Shibarium Nears 300 Million Transactions
Shibarium, the layer-2 scaling platform for Shiba Inu, is approaching a significant milestone of 300 million transactions. Since its launch in August 2023, Shibarium has gained popularity among Shiba Inu whales and investors, processing over 3 million transactions in its first month alone.
The platform experienced a surge in transactions towards the end of 2023, with an average of over 7.5 million daily transactions in December. Although the daily transaction count has declined in January, the total number of transactions on Shibarium remains steady at nearly 300 million.
Incoming SHIB Price Surge?
The success of Shibarium is closely tied to the utility of SHIB, and updates regarding the platform often impact the price of the meme coin. Currently trading below $0.00001, SHIB could potentially experience a price surge with the achievement of the 300 million transaction milestone.
Increased usage on Shibarium signals investor confidence and can lead to burning more SHIB tokens, reducing their circulation and potentially driving up prices.
Hot Take: Shibarium’s Milestone Significance
While SHIB has struggled to gain momentum in recent weeks, Shibarium’s impending achievement of 300 million transactions holds promise for a temporary reversal in fortune. The platform’s success and growing user base indicate strong market fit and investor interest. With higher transaction volumes and potential token burning, both SHIB and its gas token BONE could experience price growth as Shibarium continues to make strides in transaction counts.
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