Shibarium, the layer-2 blockchain solution for Shiba Inu (SHIB), has reached a significant milestone on Christmas Day by surpassing 700 million transactions. This milestone indicates the total number of transactions carried out using the protocol, with an average daily transaction of 4.51 million from 2,021,932 wallet addresses on the blockchain. The rapid growth in transactions within less than 18 months of the ecosystem’s official launch highlights strong user engagement and adoption from the community.
One of the recent developments on Shibarium includes the launch of a new user interface to enhance compatibility with popular self-custody wallets like Coinbase Wallet, Trust Wallet, and MetaMask. The protocol’s primary focus is on fostering the development of the SHIB ecosystem by reducing transaction costs, improving scalability, and enhancing speed, which may have contributed to the increased transaction volume. Additionally, an upgrade on Shibarium allows developers in the community to achieve faster block processing time, further enhancing the protocol’s efficiency.
The more than 700 million transaction milestone on Shibarium coincides with a recent price uptick for Shiba Inu. As of the latest data, SHIB is trading at $0.00002305, up by 3.52% in the past 24 hours, with market volume increasing by 15.78% to $707.72 million. Investor confidence remains high and bullish, signaling positive momentum for the dog-themed meme coin. However, the price uptick came at a significant cost of over seven million SHIB tokens sent to dead wallets in the last 24 hours to manage supply and price value.
Analysts are optimistic about SHIB’s momentum and suggest that if the current trend continues, a substantial rally could be on the horizon for the popular cryptocurrency. With Shibarium’s focus on enhancing the SHIB ecosystem through improved transaction efficiency and scalability, the protocol’s continued growth and development could further support the long-term success of Shiba Inu. The milestone of over 700 million transactions reflects the increasing adoption and utilization of Shibarium, positioning it as a key player in the blockchain space for the SHIB community.
