Shibarium has achieved great success by surpassing 700 million total transactions. According to current data, the total number of transactions made through Shibarium is recorded as 702,299,255. The protocol’s average daily transaction volume is around 4.51 million, and these transactions are made by 2,021,932 active wallet addresses. Officially launched in August 2023, Shibarium has achieved such a large transaction volume in just 18 months, demonstrating strong community participation and adoption.
Other notable developments for Shibarium include the release of a new user interface that increases compatibility with leading wallets like Coinbase Wallet, Trust Wallet, and MetaMask. Shibarium’s main goals are to reduce transaction costs, increase scalability, and improve transaction speeds. These goals may have played a significant role in the recent increase in transaction volume. Shibarium also received an update that allows developers to complete block processing times faster.
Shibarium’s 700 million transaction milestone coincided with a surge in the price of the Shiba Inu. Currently, SHIB is trading at $0.00002305 and is up 3.52% over the past 24 hours.
The burning of more than seven million SHIB tokens was also a major factor behind this price increase. According to Shibburn data, a total of 7,309,654 SHIB tokens were burned in the last 24 hours. Analysts predict that if SHIB maintains its current momentum, a new rally in the memecoin may occur.