Shibarium Surpasses 150M Transactions, Influences Shiba Inu Price

Shibarium exceeded 150 million transactions in just over four months.
Daily transactions on Shibarium remain high at 7.78 million.
SHIB developers plan to burn a significant amount of BONE tokens, converting them to Shiba Inu coins.

Shibarium, the Layer-2 network underpinning Shiba Inu’s (SHIB) ecosystem, has surpassed the 150 million transaction mark in a remarkably short span of just over four months.

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The official marketing expert of the Shiba Inu team proudly shared this groundbreaking news via social media, showcasing the staggering transaction count of 151,107,552. This remarkable figure represents a striking increase, especially considering that just a fortnight ago, the total number of transactions stood at 34 million. This displays an exponential growth of nearly five times within a brief span.

Moreover, the daily transactional volume on Shibarium remains notably high, maintaining a consistent level of 7.78 million transactions. This sustained level of activity has persisted since December 2, indicating a sustained and robust ecosystem surrounding the Shiba Inu network.

The surge in transaction count can be attributed to multiple factors, including the SHIB development team’s potential testing of new features, stress testing of the Shibarium infrastructure, amplified user activity, and an upsurge in transactional utility within the SHIB ecosystem.

Additionally, the developers have announced significant plans for burning BONE tokens, ultimately converting them into Shiba Inu coins. This strategic move aims to eliminate a substantial amount of SHIB coins from circulation.

Remarkably, this milestone in transaction count has coincided with a modest 0.65% increase in the Shiba Inu price within the last 24 hours. This upward movement in price aligns with the surge in Shibarium transactions, indicating a potential correlation between network activity and market performance.

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Bhea Lacsamana

Bhea is a fintech journalist specializing in crypto, with a unique blend of roles as a content creator, anthropologist, and qualitative researcher. Her articles dive into both financial technology and cultural traditions, reflecting her diverse interests. Catch her immersed in a book where her love for learning thrives.