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Big Shiba Inu (SHIB) Transactions Skyrocket by 335% With 2 Million Shibarium Wallets in Sight

Sun, 09/03/2023 - 11:22
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Gamza Khanzadaev
SHIB soars on-chain at triple-digit rate as Shibarium aims to 2 million wallets
Big Shiba Inu (SHIB) Transactions Skyrocket by 335% With 2 Million Shibarium Wallets in Sight
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In a stunning turn of events, the Shiba Inu token (SHIB) ecosystem has been shaken to its core as an unprecedented surge in substantial on-chain transactions has taken center stage. IntoTheBlock, a renowned blockchain data provider, unveiled the astonishing news of a jaw-dropping 335% surge in large transactions valued at $100,000 or more.

Shiba Inu (SHIB) Records 1,173% Large Holder Inflows in Epic Week

The data speaks for itself, with a documented surge of $29.24 million within large SHIB transactions. This surge, equivalent to approximately 3.75 trillion SHIB tokens, has contributed to an overall daily transaction volume of 5.32 trillion, painting a vivid picture of the scale of this monumental occurrence.

Source: IntoTheBlock

This monumental event finds its roots in the much-anticipated rebirth of Shibarium, a Layer-2 solution ingeniously devised by the Shiba Inu team. Over the past week, the number of addresses within the Shibarium ecosystem has witnessed an impressive surge, crossing the significant milestone of 1 million addresses.

Shibarium count gone into millions

While the protocol encountered initial hurdles during its relaunch, dedicated collaborative efforts between project members and Polygon developers successfully overcame these challenges, culminating in Shibarium's triumphant return.

Shibarium Surpasses 1 Million Wallets as Millions of SHIB Go Up in Flames

The surge in large transactions not only demonstrates the renewed enthusiasm and confidence among investors and the SHIB community, but also signifies a remarkably positive outlook on the project's future. This sentiment is further mirrored in the substantial growth of the SHIB network itself.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.