Shibarium, a Layer-2 scaling solution based on Ethereum 
$3,119, has reached significant success with the support of the Shiba Inu (SHIB) ecosystem. According to Shibarium Scan data, the total number of transactions processed on the network has surpassed 500 million, reaching 500,623,178.
The Growth Story of Shibarium
Launched in August 2023, Shibarium faced some challenges initially, but this milestone has drawn increased attention. The NFT update related to Shiboshi has contributed to the ecosystem’s adoption, boosting Shibarium’s growth. Furthermore, the addition of the NFT bridge feature to the mainnet has increased daily transaction numbers from thousands to millions. Current data indicates that Shibarium sees around 4.69 million transactions daily, with a minimum of 2,227 transactions occurring hourly.
Developer Kaal Dhairya celebrated this achievement, delivering an encouraging message to the community, stating, “The momentum is unstoppable.”
Shiba Inu and Price Movements
Developments within the Shiba Inu (SHIB) ecosystem support overall growth expectations. Currently, SHIB is trading at $0.0000264, reflecting a decrease of 3.39% in the last 24 hours. In recent days, the token price has fluctuated between $0.00002457 and $0.0000303.
Over the past week, SHIB has shown an increase of over 48%. The price of SHIB could demonstrate a quicker recovery based on market trends.
Meanwhile, lead developer Shytoshi Kusama plans to establish Shiba Inu as a crypto hub with the “SH.I.B” project, aiming for broader evaluation by presenting this proposal to Elon Musk.
Shibarium surpassing the 500 million transaction mark indicates the ecosystem is experiencing robust growth and holds promise for future projects. Developments and price movements in the Shiba Inu ecosystem present a positive outlook for enhancing the platform’s sustainability.
