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- The Shibarium network’s daily transaction count surged to 7.36 million, showcasing a robust uptrend in recent weeks.
- Despite minimal text, the Shiba Inu community responded enthusiastically, speculating on potential developments for Shibarium hinted by Kusama.
Shiba Inu’s Layer-2 blockchain, Shibarium, has left the crypto community in awe by achieving an impressive milestone of over 100 million transactions. The breakthrough was reached yesterday, with the network processing an impressive daily transaction count of 7.36 million.
As Shibarium’s activity witnessed a notable surge in recent weeks, the cumulative transaction count on the network has now soared to an extraordinary 103.31 million. In response to this achievement, Shiba Inu’s official X account referred to Shibarium’s 100 million transactions as a “moonstone,” emphasizing its significance beyond a mere milestone.
The official statement expressed gratitude to the SHIB community for their contributions in propelling Shibarium to surpass the groundbreaking feat of over 100 million transactions. Adding a unique touch to the announcement, Shiba Inu shared screenshots of a conversation with Shytoshi Kusama, the lead developer, conducted on ChatGPT. This achievement underscores Shibarium’s robust activity and the community’s active involvement in shaping Shiba Inu’s blockchain ecosystem.
Shytoshi Kusama, the lead developer behind Shiba Inu, recently took to the widely-used social media platform, X (Twitter), to share a post seemingly praising Shibarium.
In the tweet, Kusama opted for a minimalistic approach, using emojis and a Shibarium hashtag without any accompanying text. Despite the brevity, the meme cryptocurrency community responded with great enthusiasm. Vet Kusama, a member of the SHIB team, even commented on the tweet, speculating that Shytoshi might be hinting at another significant development for Shibarium soon. This cryptic message has sparked anticipation and excitement within the Shiba Inu community about potential updates or advancements related to Shibarium.
Something new is cooking 👀#shibarium #shibarmy https://t.co/apJ3HSYJ3j
— Vet KUSAMA ™ (@vetkusama) December 13, 2023
Shibarium’s Successful Growth
Shibarium, Shiba Inu’s Layer-2 blockchain, has experienced a remarkable transformation, overcoming initial challenges since its mainnet launch in August. Initially marred by technical glitches and lower transaction volumes, Shibarium has undergone a significant upswing.
From recording approximately 15,000 daily transactions in its early days, Shibarium has witnessed an extraordinary surge in transactional activity starting from the beginning of December. The network has consistently processed over 7 million transactions daily, with a temporary dip to 6.8 million on December 9.
Notably, this downtrend was short-lived, as Shibarium quickly rebounded, consistently surpassing the 7 million transaction mark. Recent data from Shibariumscan indicates a staggering 7.36 million transactions in the past 24 hours, pushing the total transaction count to an impressive 103.31 million.
Beyond transactional metrics, other key indicators for Shibarium showcase notable growth. The number of addresses engaging with the L2 blockchain has surged to 1.3 million, while the total blocks minted have exceeded 2.1 million. Shibarium’s mainnet has also witnessed the launch of 8,640 digital assets, with the total accounts reaching 56,621. This robust performance indicates a remarkable turnaround for Shibarium, underscoring its increasing prominence and adoption within the crypto community.
Shiba Inu (SHIB) Price Action
The Shiba Inu daily chart reveals a resurgence of buyers, contributing to a noteworthy 6.59% surge in the past 24 hours. As of press time, the SHIB price is trading at $0.00001005 with a market cap of $5.92 billion.
Multiple bullish signals on the chart suggest the potential for an extended uptrend for the meme coin. This development raises the likelihood of SHIB’s price maintaining levels above the crucial $0.000010 threshold. Consequently, the breakout above $0.00001026 is deemed pivotal for the continuity of the upward trend, with subsequent resistance levels anticipated at $0.0000125 and $0.000015.
Conversely, a scenario where the Shiba Inu coin’s price dips below $0.000010 could lead to a decline, potentially reaching $0.000008360. Traders and investors are closely monitoring these key levels to gauge the cryptocurrency’s short-term trajectory.
