In a new tweet, Shiba Inu celebrates the incredible growth of its layer-2 solution, Shibarium. The official SHIB X handle shared a chart depicting Shibarium transaction growth, which has now hit 300 million.
"SHIBARMY is driving Shibarium to new heights. This rollercoaster truly has only one direction: UP," Shiba Inu captioned the chart.
Shibarium was developed on Ethereum with the primary goal of reducing transaction fees for those involved in the Shiba ecosystem. Despite being one of the most secure blockchains in existence, Ethereum faces some issues, including high gas fees.
Shibarium also features SHIB burning mechanism
Shibarium was officially launched on the mainnet in August 2023, following months of development and testing by the Shiba Inu team and community, and has witnessed tremendous growth in total transactions since then.
Now, barely five months after its launch, Shibarium has crossed the 300 million mark in its total transactions.
According to the Shibariumscan explorer, total transactions are now at 304,302,131. Wallet addresses are now at 1,343,792, while total blocks are at 2,789,983.
Expectations are in place for Shibarium, as it not only serves as a scaling solution for Shiba Inu but also as a platform for innovation and collaboration. Shibarium serves as a base for the development of decentralized applications (dApps), including Shib: The Metaverse, Shiba Eternity and various other products, projects, platforms and services within the broader Shiba Inu community.
In line with this, Lucie, a SHIB team member, shares expectations. "Shibarium is just a baby. So many cool new projects are brewing in the background—not just one, but many that will surprise sooner or later," Lucie wrote in a tweet.
Meanwhile, Shiba Inu burns continue to progress. Lucie shared the exciting news that the Shibdream NFT collection has just recently burned 100 million SHIB. In the last 24 hours, a total of 146,261,497 SHIB tokens were burned in five transactions, per Shibburn.