Shiba Inu has released a minor update for its layer-2 scaling solution Shibarium, refreshing its RPC listing in the Ethereum-lists/chains registry and updating Chainlist connection details. Despite this improvement, SHIB has declined 6% over the past week, trading around $0.000005196 with a market capitalization just above $3 billion, ranking as the 33rd-largest cryptocurrency. Shibarium’s daily transactions have collapsed to the low thousands, down from millions following last year’s exploit, reflecting weak user engagement. Additionally, the burn rate has dropped by nearly 90% over the past month, severely limiting its impact on reducing the token supply.
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