The Shiba Inu-based Ethereum Layer-2 scaling solution, Shibarium, has experienced an unexpected spike in transaction activity, raising questions about the veracity of the figures among the SHIB community.
Shibarium’s daily transaction record reached an astounding 7.82 million, and since the beginning of December, the total number of transactions has risen from four million to an astounding 34.6 million.
In response to the growing rumour, developer and well-known member of the Shiba Inu community Kaal Dhairya addressed any uncertainties. Dhairya explored the extraordinary transactional activity on Shibarium in a recent piece, offering insights that illuminated the platform’s potential.
Dhairya emphasised the validity of the activities and reassured the community that the spike in transactions was not the product of spam. Normal transactions cost pennies on the dollar, but sophisticated processes remained remarkably inexpensive, even with a 1,000% rise in petrol fees.
He emphasised that the increase in petrol prices led to an exponential increase in the burn, which in turn decreased the amount of SHIB in circulation.
“Shibarium can and will scale”
Additionally, the primary developer disclosed that network utilisation never exceeded 60%, demonstrating Shibarium’s scalability as usage rises in the context of genuine bull market tendencies. Surprisingly, there were no firefighting situations or outages, even though the team was always on high alert during the rush.
“Absolute pleasure to keep watching the transaction counter keep going up – still watching,” Dhairya said, expressing his satisfaction.
In closing, he extended an invitation to the community to reflect on their work on Shibarium, highlighting its significance in constructing Shiba’s decentralised operating system for the network state.
