Shiba Inu: Shibarium Achieves 2M Transactions in Just 15 Days; Records 200k Daily Transactions

Shiba Inu's Remarkable Growth: A Six-Month Analysis

Shiba Inu’s Shibarium, a Layer-2 blockchain, has reached a significant achievement by exceeding 2 million transactions. According to Shibariumscan data, the total number of transactions on this blockchain currently stands at 2,096,508 (2.09 million).

This milestone was accomplished within a span of just 15 days after the Shiba Inu team made the blockchain available for public use again. Additionally, this accomplishment follows the blockchain’s achievement of 1 million total transactions just one week prior.

Shibarium Records Over 200,000 Daily Transactions

Shibarium experienced a significant increase in daily transaction activities, leading to the surpassing of 2 million transactions on the network. According to data from Shibariumscan, the network witnessed a daily transaction volume of 202.9K.

The increasing daily transaction volume on Shiba Inu’s blockchain indicates a growing adoption and usefulness of the platform.

Related article: Shiba Inu’s Hypothetical Scenario Without Vitalik Buterin’s Burn

Other Stats

In addition to the transaction count, Shibarium has also achieved noteworthy statistics. Currently, 1,125,968 (1.12 million) wallet addresses have engaged with the network. 

Furthermore, the number of blocks on Shibarium is approaching 600K, with 588,356 blocks recorded so far. These blocks have an average block time of 5.0 seconds.

Shibarium Posts Impressive Figures Despite Facing Technical Challenges

Despite facing technical challenges during its mainnet launch, Shibarium has managed to achieve impressive statistics and milestones.

Following its initial launch on August 16, Shibarium encountered technical difficulties and entered a fail-safe mode due to a surge in user traffic. In response, Shiba Inu’s developers collaborated with the Polygon team to scale Shibarium.

After successfully addressing the scalability issues, Shibarium was relaunched for public use on August 28, 2023. At that time, the blockchain had recorded 368,532 transactions and 66,958 addresses.

The latest data indicates a remarkable growth in Shibarium activity within a span of 15 days, with an addition of 1,727,976 (1.72 million) transactions and 1,059,010 (1.05 million) addresses.

Related also: Shibarium’s Growth Spurs Shiba Inu’s Surge – Is $0.00001 on the Horizon?

SHIB and BONE Experience Declines Despite Shibarium’s Achievements

Despite the increased activity on Shibarium, the prices of Shiba Inu ecosystem tokens, such as SHIB and BONE, have experienced significant declines.

As of the time of writing, SHIB is being traded at $0.000007200, reflecting a 12.01% decrease over the past two weeks. Likewise, CoinMarketCap data indicates that BONE has seen a 36.2% slump in value over the same period, now priced at $0.813.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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