The Shiba Inu community continues its efforts to reduce the circulating supply of the popular meme coin through token burns. However, recent data from the dedicated SHIB burn tracker portal indicates a significant downturn in this activity.

Drastic Drop in Daily SHIB Token Burns

The daily rate of SHIB tokens being eliminated from circulation collapsed by approximately 100% compared to the highest points recorded earlier in March. This sharp decline culminated in the token burn rate hitting one of its lowest figures for the month on March 31.

March Burn Peaks and Troughs

Analysis of the monthly chart reveals only two notable peaks in burning activity throughout March. These peaks occurred on February 28, with 84,094,174 SHIB burned, and again on March 15, when 54,693,900 SHIB were taken out of circulation.

In contrast to those high points, the burn volume recorded on March 25 totaled 15,911,451 SHIB. The most recent data for March 31 showed a bottoming out, with only 906.4 SHIB having been burned throughout that day.

Shibarium Infrastructure Update and Stabilization

The team associated with Shibarium, the layer-2 solution for Shiba Inu, provided an update via the X account @Shibizens. This update coincided with the launch of a newly redesigned web portal used for tracking SHIB burns, although the new portal does not currently display percentage changes in daily burn volumes.

Network Recovery Following Upgrade

The post from the Shibarium team announced that the network is entering a “clean stabilization phase.” This follows the implementation of a major infrastructure upgrade and a complete backend reindexing process.

Activity metrics on the Shibarium mainnet over the preceding 48 hours showed 1,230 transactions daily. This figure represents a notable reduction from the recent peak of 10,940 transactions recorded on March 26.

The report confirmed that the explorer synchronization process is progressing steadily at 84%. Furthermore, the team assured the community that while the system is recovering post-upgrade, the mainnet remains fully operational, and the testnet is running smoothly.