The price of Shiba Inu token fell by nearly 5% over the past day. Meanwhile, the Shibarium network reached a total transaction volume of 1 billion for the first time in history.
Shiba Inu Price Decline
According to data from crypto.news, SHIB's price dropped by 4.8% in the last 24 hours, now trading at $0.0000122. Over the past week, Shiba Inu token declined by nearly 18%, and in the last month, it decreased by another 13%.
Shibarium's Historic Milestone
Despite the price downturn, Shibarium, a layer 2 solution, has hit a significant milestone. Built on Ethereum, the Shibarium ecosystem processed 1.005 billion transactions for the first time since its launch in August 2023. For comparison, the Bitcoin ecosystem took 15 years to reach the same transaction volume.
Analysis of Current Shibarium Metrics
After reaching the 1 billion transaction milestone, Shiba Inu trading activity surged, with trading volume up by nearly 20% to $229 million over the past 24 hours. As of April 2, Shibarium's daily transaction volume stands at 4.05 million with an average block time of 5 seconds per transaction. Over 194 million addresses engage with the system, and there exist more than 10.25 million blocks.
Reaching the 1 billion transaction milestone is significant for the Shibarium ecosystem, even amid Shiba Inu's price decline. These metrics highlight the high level of engagement within the ecosystem.
