Shibarium, the Shiba Inu blockchain’s layer-2 solution, is nearing a significant transaction milestone due to its steady adoption. Maintaining an average of four million daily transactions over recent weeks, Shibarium’s total transaction count has reached 480 million imminently. Currently, Shibarium’s transaction scan tool shows 480,446,786 transactions recorded, suggesting that this milestone could be achieved within hours if the current transaction rate continues.

_{Source: Shibariumscan}

November Rally Fuels SHIB Ecosystem Growth

Shibarium’s rapid transaction growth aligns with the ongoing November bullish rally, which has spurred broader industry excitement. Over the past month, Shiba Inu’s price has climbed, sustaining a steady upward trend. At the time of writing, SHIB’s price has risen 1.49% over the past 24 hours, reaching $0.00001909. This increase represents a 10.71% rise in the past week and a 7.45% monthly growth rate. The Shiba Inu ecosystem’s heightened activity is attracting more users to Shibarium, as reflected in its performance metrics.

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SHIB’s current trading volume reflects cautious trading, yet the token remains on a path to test the resistance level of $0.00002. Breaking this level could signal a more substantial rally for both the SHIB token price and Shibarium’s transaction count. Should this resistance level hold, Shibarium’s growth momentum may accelerate further, leading to higher transaction milestones and potentially greater adoption.

Shibarium’s Impressive Growth in Numbers

Since its launch, Shibarium has broken multiple transaction records, including a peak daily transaction count of over 11 million in Q4 2023. This achievement set a high benchmark for the protocol, indicating its potential for scaling further. Although transaction counts capture much of the attention, Shibarium’s growth prospects extend to its total value locked (TVL) as well. 

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According to DeFiLlama, Shibarium’s TVL stands at $4.48 million, suggesting that the protocol still has room to grow in terms of fully capturing transaction value. Shibarium’s sustained growth reflects its solid market position and its potential for future expansion. 

As both transaction milestones and the value locked in the network continue to increase, Shibarium could gain a larger role within the Shiba Inu ecosystem, helping to push SHIB’s value and adoption to new levels.