Shiba Inu: Shibarium 5 Million Daily Transactions Generate Enthusiasm

Shiba Inu Layer-2 solution Shibarium saw a more than six-fold increase in daily transactions, which jumped from 748,230 on Nov. 30 to hit 5.1 million in the past day.

Shibarium saw a massive 583% spike in daily transactions, which set a new high on Dec. 1. The surge triggered enthusiasm across the board, given that all the while Shibarium daily transactions had flatlined between the 10,000 and 20,000 range.

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Thu, 11/23/2023 - 17:15

Shiba Inu: Shibarium Sets Impressive Milestone of Over 4 Million Transactions

Tomiwabold Olajide

Occasionally, the Shiba Inu Layer 2 witnessed a drop below the lower end of the range, falling below 10,000, and a few times exceeded the 20,000 range, surpassing 43,000 at one instance.

Reacting to the recent massive spike in Shibarium transactions, Shiba Inu developer Kaal Dhairya tweeted excitedly: "Shibarium, you trooper, continues to do what it's built to do."

Shiba Inu team member Lucie draws attention to the positivity on X: "Shibarium transactions hitting new highs at 5.1 million daily transactions."

Lucie highlights "increased traffic, soaring gas prices and more burn" on Shibarium while predicting that "the momentum is coming slowly but surely."

BONE jumps 20%

Bone ShibaSwap (BONE), the Shibarium gas token, appears to be a major beneficiary of the recent enthusiasm surrounding Shibarium. The price of BONE has jumped since Dec. 1, when transactions on Shibarium began to soar.

At the time of writing, Shibarium has hit 12,731,763 in total transactions after gaining 5.1 million transactions in the past day.

The total blocks created by Shiba Inu Layer 2 Shibarium are now 1,902,645 at an average block time of 5.0 seconds. Wallet addresses have grown to a current figure of 1,277,477, per Shibariumscan data.

The BONE price is replicating Shibarium's growth, climbing nearly 20% in the last 24 hours. At the time of writing, BONE was up 15.39% in the last 24 hours to $0.724.