After witnessing an unprecedented surge in daily transactions, shibarium is currently experiencing a significant parabolic run in terms of total transactions. As of December 1, there were 5.11 million daily transactions overall, according to data from Shibariumscan. With the addition of this amount, the total number of transactions on Shibarium to date is 12,098,567.
This transaction count is quite unusual for Shibarium and the larger Shiba Inu ecosystem, even if it is not out of the ordinary in the Ethereum Layer-2 realm. This week, the daily transactions broke above the 700,000 resistance threshold, resulting in the largest surge since the platform’s launch in August.
But the latest numbers have smoothed out all ticks before to today, suggesting that Shibarium may have entered a new age. Although the causes of these surges are yet unknown, they mark the beginning of a significant new discovery for Shibarium, as the community is now fully aware of the increasing transaction spike and volume that goes along with it.
Shibarium has established itself as a strong competitor in the L2 race with the transaction count milestone, especially considering that its chain has remained intact despite the massive load it has only begun to handle.
Implications for SHIB and BONE
Shibarium’s price has recovered due to the continuous increase in transactions; at the time of writing, it is trading at $0.000008398, up 3% from the previous day. Remarkably, the price of Bone ShibaSwap (BONE), the native token of the Shibarium system, has increased by 15.64% to $0.7236.
As anticipated, more traders are now aligning themselves with the asset in anticipation of its ability to skyrocket, as seen by the 85% surge in trading volume to $11,627,929 in BONE. Shibarium has been well positioned by Shiba Inu’s steady burn rates and community buzz, with the core team at the forefront, and the exposure now seems to be paying off.
