According to CryptoPotato, Shibarium, associated with Shiba Inu, intends to collaborate with numerous projects and maintain current partnerships. Despite technological advancements and increased transactions on the network, SHIB's price has declined by 13% in the past month. Shibarium's Marketing Strategist, LUCIE, revealed that the layer-2 blockchain solution plans to onboard 1,000 projects with numerous partnerships. The executive added that the upcoming collaborations will not result in canceling existing ones.
The team behind Shiba Inu and Shibarium has inked multiple deals in the past several months, including one with Filipino boxing legend Manny Pacquiao. Launched in August last year, the L2 scaling solution aims to foster the growth of the meme coin by providing faster transaction times and lower fees. Shibarium has blasted through countless milestones and introduced important developments as of late. Total transactions on the network surpassed 300 million, while wallet addresses exceeded the 1.3 million mark.
In addition, the team behind Shibarium released an essential update designed to minimize the burden of manual token burning and automate the entire system. The mechanism aims to reduce the tremendous SHIB supply, making the asset scarcer and potentially more valuable in the future. Despite that effort and the skyrocketing burn rate since the beginning of the year, Shiba Inu's price has been on a downfall, plunging by 13% in a month, according to CoinGecko data.
