Shiba Inu (SHIB) has successfully transitioned from a pure meme coin to a project with a functional ecosystem, centered around its Layer-2 blockchain, Shibarium. On February 16, 2026, on-chain data indicates a steady increase in transaction volume on Shibarium, which directly contributes to the automated burning of SHIB tokens. This deflationary mechanism is a core component of the community's bullish thesis, aiming to reduce the massive circulating supply over time. The ecosystem now includes a decentralized exchange, a metaverse project, and a collection of play-to-earn games. Despite these developments, SHIB's price remains highly volatile and driven by social sentiment. The community, known as the 'ShibArmy,' remains one of the most active in the crypto space, capable of driving significant short-term price spikes. However, for sustainable long-term growth, analysts suggest the project needs to see increased utility usage beyond speculative trading. Currently, SHIB is consolidating above a key support level, with traders watching for any announcements regarding new partnerships or exchange listings that could serve as a catalyst for the next leg up.