Shiba Inu (SHIB) Blasts Through Another Big Milestone

TL;DR

• Shibarium sees a surge in transactions and wallet addresses.
• SHIB’s price drops, aligning with a general downturn in the cryptocurrency market.

The Latest Achievement

Shiba Inu’s layer-2 blockchain solution – Shibarium – made waves again, with total transactions surpassing 300 million. The achievement follows a successful month, during which the network witnessed daily transactions in the range of 1.2 – 7.8 million.

In addition, the number of wallet addresses surged above 1.3 million, whereas total blocks near the 2.8 million mark.

The newly reached milestone comes approximately a week after the crypto exchange Gate.io enabled users to purchase and send BONE tokens to Shibarium through the platform. Prior to that, the Australian GroveX became the first to announce the network’s integration.

SHIB in the Red

Shibarium, officially launched in August last year, is designed to foster the growth of the meme coin’s ecosystem and elevate it above its rivals by lowering transaction fees and improving speed. Those willing to learn more about it, feel free to check our video below:

Some experts have claimed that Shibarium’s further advancement could positively impact Shiba Inu’s price. Despite its recent progress, SHIB has plunged 4% on a 24-hour scale and 6% in the past week (per CoinGecko’s data). 

Its slump coincides with the broader market correction, with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and many other cryptocurrencies trading in the red today (January 22).