Shiba Inu: Shibarium Records Historic 3 Million Daily Transactions

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

The official Shiba Inu Twitter account has highlighted its blockchain network’s remarkable growth in daily transactions on Shibarium. In a recent post, Shiba Inu announced that the network is approaching 3 million daily transactions, substantiating the claim with an image from the network’s explorer.

Shibarium Daily Transactions Hit 3M

According to a news outlet confirmation, shortly after Shiba Inu’s update, Shibarium reached the milestone of 3 million daily transactions. The count stood at 3 million at the time of reporting, bringing the total transactions to 360.09 million.

At the time of the post, Shibarium had processed 2.44 million transactions, with some hours remaining in the day.

Related article: Shiba Inu Looks to Finalize All Projects as Analyst Predicts 113,302% Surge

This surge follows a period where daily transactions on Shibarium had dropped to around 1.07 million. The increase mirrors previous instances where daily transactions peaked towards the end of 2023, reaching around 7.5 million transactions.

It’s worth noting that during the initial phase of Shibarium’s mainnet launch, the network averaged around 200,000 transactions daily. Activity picked up significantly in December, with transactions ranging between 5 and 8 million.

Since its inception, Shibarium has amassed over 1.35 million wallets and more than 3.26 million blocks, with a total of 64,305 user accounts.

Related also: Shiba Inu: K9 Finance Partnership Propels (SHIB) Toward $0.00001 Milestone

Can SHIB Replicate Its December Performance?

Community members anticipate that the recent surge in Shibarium’s network activity will positively impact the prices of Shiba Inu ecosystem tokens, particularly SHIB.

In December, when daily transactions on Shibarium averaged 7 million, the price of SHIB skyrocketed from $0.00000850 to a monthly high of around $0.00001115, representing a 31.17% increase.

Whether SHIB can replicate its December performance amid the current uptick in Shibarium’s transactional activity remains uncertain.

SHIB was trading below the coveted $0.00001 price at the time of writing. Over the past two weeks, the token has seen a 10.2% surge, rising from $0.0000088 to $0.0000098. In the last 24 hours, SHIB has experienced a 0.73% decline.

Investors are closely monitoring whether SHIB will replicate its December surge and exceed a 30% increase in the coming days.

However, the significant rise in Shibarium’s network activity will likely attract investors’ attention to the crypto project, benefiting all tokens within the Shiba Inu ecosystem, including SHIB.

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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