Today’s significant surge in the cryptocurrency market is the result of Bitcoin (BTC) testing its highest price level since 2023. With Bitcoin currently trading at $41,675, the prices and activity of several altcoin systems have also witnessed enormous resurgences. Shibarium has boosted its entire transaction count past 27,000,000, according to statistics from Shibarium Scan, making it one of the main benefactors of current optimistic market sentiment.
The statistics showed that the Shiba Inu-based Ethereum Layer-2 scaling solution had 7.84 million daily transactions—possibly the most in a single day. Shibarium transactions saw a parabolic change this year, with over 700,000 transactions reported in a single day, after typically being flat until late November.
From that point on, there has been no deceleration in the amount of transactions, which gradually increased to five million and ultimately to the present level of over seven million.
Consistency is one underlying theme in the evolution of Shibarium transactions; even at a moment when just a few thousand transactions were logged, neither the protocol nor the explorer showed any signs of weakness. The fact that Shibarium is currently managing a significantly higher load than it did at the time of its creation highlights the excellent engineering effort done to appropriately scale the protocol during its second reincarnation.
Shiba Inu (SHIB) price reaction
The Shiba Inu’s price has increased significantly in response to the favourable transaction milestone for Shibarium. As of this writing, trade volume has increased by triple digits to $466,454,876 and Shiba Inu is up 7.79% to $0.000009165.
The native Shibarium token, Bone ShibaSwap (BONE), has increased by 10.02% to $0.7724 as a result of this remarkable SHIB growth. The fact that there are currently millions of Shibarium transactions is an optimistic development that can direct future investment activity, regardless of whether this price level is maintained.
