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Shibarium is on a major parabolic run in terms of its total transactions after recording a never-before-seen spike in its daily transactions. Data from Shibariumscan shows that total daily transactions as of Dec. 1 jumped to 5.11 million. This figure pushed the total transactions recorded on Shibarium to date to 12,098,567.
While this transaction count is not an alien figure in the Ethereum Layer-2 world, it is highly strange for Shibarium and the broader Shiba Inu ecosystem. The biggest spike recorded since its inception in August to date was&nbsp;<a href="https://u.today/shiba-inus-shibarium-clears-5m-transactions-after-massive-spike" rel="noopener noreferrer nofollow">recorded</a> earlier this week, when the daily transactions breached the 700,000 resistance point.
However, the current figures have flattened out all ticks before now, sending a signal that a new era might have kicked in for Shibarium. The reasons for these spikes currently seem elusive, however, it showcases the start of a new major rediscovery for Shibarium, with the community now fully publicizing the growing transaction spike and its accompanying volume.
The milestone in transaction counts has positioned Shibarium as a serious contender in the L2 race, especially with its chain staying unbroken with the enormous load it just started handling.
<h2 id="implications-for-shib-and-bone">Implications for SHIB and BONE</h2>
The ongoing surge in Shibarium transactions has spurred a recovery in the price of SHIB, which is&nbsp;<a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="noopener noreferrer nofollow">changing hands at $0.000008398</a> at the time of writing atop a 3% gain overnight. Notably, Bone ShibaSwap (BONE), the native token of the Shibarium protocol, has also seen a 15.64% jump in its price to $0.7236.
As expected, the BONE trading volume has spiked 85% to $11,627,929 as more traders are now choosing to align with the asset for its potential to soar. Shiba Inu’s consistent&nbsp;<a href="https://u.today/shiba-inu-shib-sees-over-13-billion-tokens-burnt-in-november-what-does-it-mean-for-price" rel="noopener noreferrer nofollow">burn rates</a> and community hype with the core team at the forefront have positioned Shibarium in a good light, and the&nbsp;<a href="https://u.today/important-shibarium-announcement-issued-by-shib-team" rel="noopener noreferrer nofollow">publicity</a> currently appears to be paying off.

Shibarium Transactions at All-Time High, What's Really Happening?

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