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Shiba Inu team launched the Ethereum Layer-2 network Shibarium with great expectations. Since its inception in 2023, it has shown significant growth and attracted attention. Due to continuous usage, daily transaction numbers increased by 50%, indicating progress towards higher levels.
Shibarium and Transaction Numbers
According to data provided by Shibariumscan, the total number of transactions on Shibarium has approached 420 million since its launch. As of the time of writing, this number had risen to 417.54 million. Considering the network started transactions in August 2023, it achieved this success in nine months.
These figures emerged amidst a surge in transaction volume, reflecting the growing interest in the Shibarium network. Daily transactions rose to 18,554 on Monday before dropping to 10,904 on Tuesday. However, calculations today show a 50% increase from Tuesday’s low, reaching 15,414.
Looking at the network’s performance data from the past month, the average daily transaction number was around 9,000. If this average continues, it could take eight months for the network to reach the historic level of 420 million transactions.
Furthermore, as the bull market continues and crypto participation increases, Shibarium may see higher adoption. In this case, the Ethereum Layer 2 network could reach this milestone very soon.
Where is the Shiba Inu Price Heading?
Shibarium network’s performance contrasts with SHIB’s ongoing price decline. The meme coin’s price fell by 3.15% in the last 24 hours, reaching $0.0000245.
The price drop in SHIB also affected its market and transaction volumes. During this period, the market cap fell to $14.4 billion, and the 24-hour transaction volume dropped to $805 million, a decline of over 16%.
Meanwhile, PEPE’s price reached an all-time high within the same week, gaining over 100% in the last month. On the other hand, BONK’s price also seems to be moving towards its all-time high.
