Shiba

Rally

Verge

Shiba Inu

<figure>
 <figcaption>
  Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
<p dir="ltr">Despite the slow growth, Shibarium, the Shiba Inu (SHIB) layer-2 scaling solution, is advancing in key metrics. Although Shibarium has&nbsp;<a href="https://www.shibariumscan.io/" rel="noopener noreferrer nofollow">scored</a> a steady slump in active transaction count over the past month, block production has remained steady.</p>
<h2 id="making-history-shibarium-adoption-test">Making history, Shibarium adoption test</h2>
<p dir="ltr">According to data from Shibariumscam, the L2 protocol is nearing two million registered addresses overall. Currently, it boasts a total of 1,814,475, a figure recorded in just about 13 months since its launch.</p>
<p dir="ltr">In addition to this crucial adoption record, total transactions will soon surpass the 420 million milestone. For now, the Shibariumscam record shows that total transactions come in at 418,168,377.&nbsp;</p>
<p dir="ltr">If&nbsp;<a href="https://u.today/shibarium-transactions-slip-as-shiba-inu-loses-crucial-edge" rel="noopener noreferrer nofollow">negative trends</a> are not reversed, total transactions might have a bumpy road ahead of this milestone. The explorer data shows that the daily transaction on Shibarium dropped from a monthly high of 28,680 on Aug. 20 to as low as 1,890 as of press time.</p>
<p dir="ltr">The trend of intensive adoption of Shibarium is generally seasonal, with Q4 last year characterized by millions in daily transactions. However, this level has proven to be understandably unsustainable.</p>
<p dir="ltr">While the daily transaction is seeing a steady drop, other metrics like contracts and gas use are growing remarkably.</p>
<h2 id="boost-for-shiba-inu-price">Boost for Shiba Inu price</h2>
<p dir="ltr">Positive impressions of Shibarium have a way of trickling down to Shiba Inu and SHIB prices. Growing transactions might involve Shiba Inu, and more users, as marked by wallet addresses, may imply more people placing demand on SHIB.</p>
<p dir="ltr">The resultant effect would help SHIB build on its&nbsp;<a href="https://u.today/shiba-inu-inflows-skyrocket-164-as-shib-preps-for-major-rally" rel="noopener noreferrer nofollow">growth momentum</a>. As of press time, the token is up 2.77% in 24 hours to trade at $0.00001347. With the token still down by over 87% from its all-time high of $0.00008845, the projected milestones might help it bridge this gap.</p>
<p dir="ltr">Achieving its goal will require a consolidated effort from the community and developers exploring various&nbsp;<a href="https://u.today/shiba-inu-exec-issues-crucial-shibarium-game-update" rel="noopener noreferrer nofollow">use cases</a> on the Shibarium network.</p>

Shibarium on Verge of Two Major Milestones: SHIB Rally Ahead?

Table of Contents

U_Today

Other articles published on Sep 10, 2024

PancakeSwap Launches "v4 Hookathon" to Enhance v4 Functionality

Crypto Analysts Share Bold Predictions for 2025 Bitcoin, Ethereum, and Solana Prices

Crypto Whale Avoids $26.47 Million Liquidation by a Hair’s Breadth

Binance’s Tokocrypto Secures PFAK License in Indonesia

Tim Cook Deepfake Crypto Scam at iPhone 16 Launch

Lufthansa, Deutsche Telekom launch DePIN blockchain nodes

Join our free newsletter for daily crypto updates!