- Shibarium, Shiba Inu’s layer-2 scaling solution, saw its daily transactions spike 130% to a new record high of 35,000 on November 21st.
- Shibarium has hit key milestones including surpassing 4 million total transactions, 125 million wallet addresses, and nearly 18 million total blocks.
- The growth of Shibarium is seen as positive for Shiba Inu long-term, but has not directly increased SHIB’s price yet. If adoption continues rising, it could improve fundamentals and demand.
Shibarium is Shiba Inu’s layer-2 scaling solution that was officially introduced in August 2022. It is designed to improve Shiba Inu‘s capabilities by enhancing transaction speed and reducing costs.
Shibarium’s Transactions Surge 130% in a Day
According to recent data, the number of daily transactions on Shibarium spiked to almost 35,000 on November 21st. This is a 130% increase from the previous day’s figure of 15,000 transactions.
This spike represents a new record high for Shibarium’s daily transaction count in November. Throughout the month, the number of transactions per day has ranged between 8,000 and 18,000.
Shibarium Hits Key Milestones
Along with this transaction spike, Shibarium has recently surpassed several key milestones:
- Total transactions have exceeded 4 million
- Wallet addresses total over 125 million
- Nearly 18 million total blocks
The rapid advancement of Shibarium has been cited as a potential catalyst for boosting Shiba Inu‘s valuation. However, SHIB has dropped 4% over the past 24 hours.
What This Could Mean for SHIB
While the growth of Shibarium is seen as positive for Shiba Inu, it has not directly correlated with an increase in SHIB‘s price yet.
Nonetheless, if Shibarium continues to gain adoption and see its transaction counts rise, it could provide fundamental improvements that support and increase demand for SHIB over the long term.
