SHIB Shibarium Update: Burn Rate Jumps 370% in 30-Day Rebuild

SHIB’s Layer-2 network Shibarium has been going through a major infrastructure overhaul. Over the past 30 days, the network completed a server migration and kicked off a full chain re-indexing process - currently sitting at around 45% completion. The blockchain itself kept running without interruption, but explorer data looks sparse in the meantime. Think of it as a renovation: the building is open, just not all the rooms are visible yet.

The numbers in the explorer right now are misleading. It shows roughly 2.4 million blocks and about 168 million transactions - but the actual figures are over 14 million blocks and 1.56 billion transactions Major Shibarium infrastructure upgrades like this one tend to create temporary data gaps. Similarly, the wallet count appears to be around 5 million, while the real address tally sits above 270 million. RPC connections are stable post-migration, and the Ethereum-to-Shibarium bridge is operating normally.

Meanwhile, SHIB burn rate spikes and supply pressure took a sharp turn upward - burn activity jumped 370%, with a notable event on March 21 driving a big chunk of that figure. Daily network activity has stayed steady throughout the rebuild, even if the visible transaction count looks lower than normal due to incomplete indexing. On the development side, Puppynet has shifted focus toward Layer-3 infrastructure, including Shib Alpha and ShibClaw, plus a new Layer-3 explorer launch.

This period captures a transition moment for Shibarium - heavy backend work temporarily distorts what’s visible on-chain, while actual Shibarium transaction growth during ecosystem expansion continues underneath. For anyone reading on-chain metrics right now, it’s worth accounting for the re-indexing gap before drawing conclusions about network health or momentum.