Shiba Inu’s layer-2 blockchain, Shibarium, has now crossed a significant milestone with over 1.2 billion transactions recorded on the platform. According to data from Shibariumscan, the blockchain has logged exactly 1,200,232,125 transactions. This remarkable number reflects increasing user activity and growing trust in the network.
User Base and Blocks Continue Expanding
These transactions originated from a total of 261,578,109 addresses, further showcasing the platform’s steady expansion. The number of blocks produced on Shibarium has reached 11,334,243, and the network maintains a stable average block time of 5.0 seconds. This level of consistency and scalability has allowed Shibarium to sustain its performance while accommodating new users.
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Notably, just two months ago, Shibarium hit the 10 million block milestone, and developers set a short-term goal of reaching 10.5 million blocks. Today’s progress far exceeds that target, demonstrating the ecosystem’s capacity for rapid growth.
Price Movement and Token Impact
Despite this technical achievement, SHIB’s price has declined slightly. At the time of writing, SHIB trades at $0.00001310, marking a 0.48% drop over the past 24 hours. The token continues to show high volatility, especially after falling below the $0.00001317 level.
Source: CoinMarketCap
Increased transaction activity on Shibarium often correlates with rising token demand. Therefore, this network usage could eventually have a positive impact on ecosystem tokens like SHIB and BONE, although short-term fluctuations remain likely.
Drop in Daily Transactions Raises Questions
While cumulative transactions have soared, daily activity has dropped significantly. On May 21, Shibarium logged 1.51 million daily transactions, but since then, the numbers have steadily declined. As of June 2, only 64,390 transactions were recorded. This marks the tenth consecutive day where the count remained below 100,000.
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Shibarium displayed similar behavior earlier in May, when daily volumes dipped before rebounding to 4.3 million transactions. If this trend repeats, another spike in activity could be on the horizon. Meanwhile, DavinciShib, a core Shiba Inu team member, addressed ongoing community concerns about rug pulls and fake tokens. He confirmed that the team is actively working to identify and stop bad actors from exploiting the Shibarium ecosystem for illegitimate gains. These efforts aim to enhance community trust and preserve the platform’s integrity.
Shibarium’s record-breaking transaction count signals long-term potential and growing adoption, despite recent dips in daily volume. With the development team focused on security and ecosystem stability, users may soon witness renewed engagement and network activity.
