Shiba Inu’s Shibarium Skyrockets Whopping 140% in Transaction Activity

Shiba Inu’s Layer-2 solution, Shibarium, has witnessed an astounding surge in transaction activity, catapulting an impressive 140% within the last 24 hours, according to Shibariumscan data. The platform recorded an astonishing 2.75 million transactions during this period, showcasing a substantial leap from the 1.96 million transactions reported just a day ago.

This surge follows a period of heightened activity for Shibarium, marked by a peak of 7.84 million transactions per day at the end of November. However, toward the end of 2023, Shibarium experienced a noticeable decline in transaction volume, hitting a low point last week at 1.16 million transactions.

Fortunately, since Jan. 13, the platform has experienced a remarkable recovery, witnessing a solid 237% increase in transaction numbers.

The total tally of transactions on Shibarium since the full launch of Shiba Inu’s blockchain at the end of August is on the cusp of reaching an impressive 300 million, as reported by Shibariumscan. Over this period, Shibarium has successfully executed 2.76 million blocks, facilitated 1.43 million transfers of BONE, the blockchain’s key token, and engaged a network of 1.34 million addresses.

This surge in transaction activity underscores Shibarium’s resilience and popularity among Shiba Inu enthusiasts. The impressive recovery from the recent low point and the substantial increase highlights its ongoing success as a Layer-2 solution for the SHIB ecosystem.

As the platform continues to demonstrate its strength, the Shiba Inu community eagerly anticipates further developments and milestones in the near future.

About the author

Gamza Khanzadaev