Activity on Shiba Inu’s special blockchain, called Shibarium, is really picking up speed! Every day, there are now 3 million transactions happening on it.
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The official Shiba Inu account, known as the “X handle,” recently pointed out this big growth. They posted about it yesterday, showing a picture from the network’s explorer to prove it. It’s exciting to see Shibarium becoming so popular!
Shibarium Achieves 3 Million Daily Transactions
Approaching 3 million transactions… and the day isn’t over yet! Wishing the ShibArmy an amazing week ahead. Check out the latest Shibarium activity at https://t.co/8ttFbBwkrF pic.twitter.com/Hwe9pzpg9q
— Shib (@Shibtoken) February 19, 2024
At the time of the post, Shibarium had processed an impressive 2.44 million transactions, with some hours remaining before the day’s end. However, the network later reached a significant milestone by hitting the coveted target of 3 million daily transactions, as reported at press time. This surge in activity comes after a period where daily transactions had dropped to around 1.07 million, highlighting a remarkable rebound in Shibarium’s activities.
Source: Shibarium stat
This increase in transactional volume is reminiscent of previous instances where the network experienced surges, particularly toward the end of 2023, when daily transactions peaked at around 7.5 million. Since its mainnet launch, Shibarium has come a long way from an average of 200,000 daily transactions to now consistently processing between 5 and 8 million transactions, particularly notable since December.
Since its inception, Shibarium has demonstrated substantial growth, boasting over 1.35 million wallets and more than 3.26 million blocks. Additionally, the total number of user accounts has reached 64,305, highlighting the network’s growing adoption and user base.
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Shibarium Activity Surge Sparks Hope for SHIB Price Growth
Community members are optimistic about the recent surge in activity on the Shibarium network, anticipating a positive impact on the prices of tokens within the Shiba Inu ecosystem, particularly SHIB.
In December, when Shibarium’s daily transactions averaged 7 million, the price of SHIB experienced a notable increase from $0.00000850 to a monthly high of around $0.00001115, representing a 31.17% rise.
However, it remains uncertain whether SHIB can replicate its December performance in the coming days, despite the spike in Shibarium’s transactional activity.
Currently, SHIB is trading below the coveted $0.00001 price point. Over the past two weeks, the token has seen a 10.2% increase, moving from $0.0000088 to $0.0000098. Additionally, SHIB has risen by 0.5% in the past 24 hours.
The question of whether SHIB will replicate its December performance and surge by over 30% in the near future remains unanswered.
Nevertheless, the significant surge in activity on the Shibarium network is expected to draw investors’ attention to the crypto project, potentially benefiting all tokens within the Shiba Inu ecosystem, including SHIB.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
