Since launching, Shibarium has enjoyed a substantial rise in adoption and advancement. The layer-2 solution has consistently shown noteworthy growth across various metrics, demonstrating remarkable momentum. Currently, Shibarium stands on the precipice of reaching the 4 million mark in total completed transactions. Concurrently, there has been a surge in the activities of ‘whales’, with a steep increase in large transactions recorded over the past week.
The growth velocity propelling Shiba Inu’s native scaling solution, Shibarium, is staggering. It has been rapidly adopted as the favoured means for both SHIB whales and everyday investors to trade SHIB tokens. NOWNodes, a blockchain node provider, has reported that Shibarium was among the highest-performing networks recently, having processed a whopping 66 million requests to Shibarium in a matter of months.
The network now stands on the verge of realizing four million total transactions, showing no signs of banner progress slowing down. Current data indicates that transaction count stands at 3.81 million, with an impressive 1.51 million blocks mined. The daily transaction count stands at 13,700 over the most recent 24-hour period. In the same vein, the number of wallet addresses has recently surpassed the 1.26 million mark.
Alongside this, Shiba Inu whales, the industry term for wealthy investors, have increased their transactions. Data suggests the Shiba Inu ecosystem has registered a 45% increase in the volume of large transactions, amounting to $46.12 million as the month of October concluded.
In the past, Shibarium’s advancements have consistently fostered positive impacts on the price of SHIB. Every new accomplishment and marker attained in Shibarium’s development has inspired interest, translating into an increased value of SHIB. At present, SHIB is being traded at $0.000008154, with approximately 22.14% of holders currently turning a profit.
The crossing of the four-million milestone could generate yet another wave of excitement in the Shiba Inu ecosystem, possibly a temporary one. This could lead to Shiba Inu breaking free from the current resistance of $0.0000082, pushing closer to its previous August high of $0.00001072.
The merits of Shibarium, including reduced fees and swift transaction speeds, are finding favour amongst more and more SHIB holders. The accelerated rate of adoption is projected to continue. Concurrently, various trends indicate a sustained price growth trajectory for SHIB.
Shytoshi Kusama, SHIB’s chief developer, has recently launched a naming service on Shibarium that allows the conversion of complex Shibarium addresses into easily readable names. Though a $0.1 price point currently appears unattainable, such updates signify a starting block towards sustained price growth.
