Shibarium, the innovative layer-2 blockchain solution for Shiba Inu (SHIB), marks a festive moment this Christmas by celebrating an impressive achievement—surpassing 700 million transactions. As the holiday cheer fills the air, the excitement surrounding Shibarium’s growth is palpable, with total transactions now recorded at 702,299,255.
This remarkable journey began just a few months ago, when the protocol officially launched in August 2023. With an average of 4.51 million transactions daily, it’s clear that the community’s engagement is thriving, as evidenced by the 2,021,932 wallet addresses now active on this platform.
What makes this milestone even more remarkable is the strong momentum built in less than 18 months. Shibarium’s transaction growth demonstrates not only the platform’s effectiveness but also the community’s enthusiasm and support. Following a recent U.Today report highlighting progress, the excitement among users and developers seems to amplify.
Adding to the celebration, Shibarium introduced a new user interface that enhances compatibility with popular self-custody wallets, including Coinbase Wallet, Trust Wallet, and MetaMask. Such improvements focus on fostering the SHIB ecosystem by reducing transaction costs, boosting scalability, and accelerating speed. These factors likely played a significant role in reaching the recent transaction milestone.
What’s more, Shibarium’s upgrades have led to faster block processing times for developers in the community, propelling further advancements.
On the investor side of things, the excitement continues as analysts link this milestone to a recent rise in the SHIB price. Currently, Shiba Inu is trading at $0.00002305, reflecting a 3.52% increase over the past 24 hours. Market sentiments remain optimistic, with trading volume up by 15.78% to $707.72 million.
However, it’s essential to highlight that this price increase came at a cost—over seven million SHIB tokens have been sent to dead wallets as part of a supply management strategy. Data from Shibburm reveals that 7,309,654 SHIB tokens were incinerated in the last 24 hours, aimed at maintaining value.
In light of these developments, market analysts believe that if SHIB can sustain its current momentum, a significant rally could be on the horizon for this beloved dog-themed meme coin. As the community gathers and celebrates this holiday season, the future of Shibarium looks bright with this momentum, potentially leading to even greater heights in the coming year.
