Shibarium, the layer-2 blockchain linked to Shiba Inu, has recorded a sharp rise in daily activity. In the last 24 hours, the network processed 4.34 million transactions, representing a 115 percent increase compared to its activity on April 30.
The recent spike points to a renewed wave of adoption across the ecosystem. Total blockchain addresses have grown significantly, rising from 204.18 million over the weekend to 206.45 million as of press time. This indicates stronger user participation and broader community involvement in the Shibarium network.
Block production on the network also shows a steady increase. Current data confirms a total of 10.85 million blocks, and with activity accelerating, projections of reaching another 500,000 blocks in 30 days appear more realistic. This growth trend reinforces the expanding utility of the blockchain.
Cumulative transactions on the platform have now surpassed 1.14 billion. This level of throughput signals that the vast number of addresses on Shibarium are not dormant but are actively contributing to the network’s operations.
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Massive Transaction Spike Reflects on SHIB Token Performance
The surge in on-chain activity has had an immediate effect on the value of Shiba Inu’s native token, SHIB. The token saw a 3.30 percent increase in the last 24 hours and is now trading at $0.00001288.
Trading volume also climbed during this period, rising to $143.86 million, marking a 2.93 percent boost. This suggests rising investor interest, likely fueled by the growing use case within the expanding Shibarium ecosystem.
A significant portion of SHIB holders, roughly 78 percent, are known to be long-term investors. Their continued support and lack of panic selling during downturns have helped stabilize and now uplift the token’s value.
With daily transactions on Shibarium rising rapidly and user adoption on the rise, the network’s performance is translating into renewed confidence in SHIB. This heightened activity may serve as a foundation for further growth across the ecosystem.
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