In an unexpected turn of events, an extraordinary rise in significant on-chain transactions has taken centre stage, upending the Shiba Inu token (SHIB) ecosystem. A respected blockchain analytics company called IntoTheBlock revealed the startling news of a staggering 335% increase in major transactions of $100,000 or more.
With a confirmed increase of $29.24 million in major SHIB transactions, the evidence speaks for itself. This increase, which is almost 3.75 trillion SHIB tokens in value, has led to an average daily transaction volume of 5.32 trillion, giving a clear idea of the magnitude of this momentous event.
This historic occurrence has its origins in the much awaited resurrection of Shibarium, a Layer-2 solution cleverly created by the Shiba Inu team. The number of addresses in the Shibarium ecosystem have seen an amazing increase over the last week, surpassing the crucial milestone of 1 million addresses.
Shibarium count gone into millions
Although there were some early difficulties with the protocol’s restart, persistent teamwork between project participants and Polygon developers overcame these difficulties, leading to Shibarium’s triumphant rebirth.
In addition to showing investors’ and the SHIB community’s increased enthusiasm and confidence, the increase in major transactions also represents a very optimistic stance on the project’s future. This feeling is also reflected in the SHIB network’s rapid expansion.
