Shiba Inu's Layer-2 blockchain, Shibarium, has crossed the 1 billion transaction mark, marking a significant milestone in its development. Achieved in just 593 days since its launch in August 2023, this success solidifies its position among the fastest-growing blockchain technologies.
Shibarium Among Fastest-Growing Blockchains
Shibarium's rapid growth places it among the fastest-expanding Layer-2 solutions. While Bitcoin took 15 years to hit 1 billion transactions, Shibarium achieved this in just 593 days. Key metrics include up to 4 million transactions daily, 10.23 million blocks with a stable 5-second block time, and nearly 194 million unique wallets interacting with the network. Despite a network outage in 2024, Shibarium maintains strong adoption, reinforcing its significance within the Ethereum ecosystem.
Can This Fuel a SHIB Price Rally?
Following the milestone, Shiba Inu (SHIB) price saw a 5.92% increase, trading at $0.00001290 with a market cap of $7.6 billion. Historically, blockchain adoption drives token value, sparking speculation about a SHIB breakout. If Shibarium's growth continues, SHIB demand could rise. However, a decline in active users could slow its momentum.
What’s Next for SHIB?
Currently, there are 248,608 accounts on Shibarium, but only 917 active users in the past day. User engagement is fluctuating, drawing attention from investors observing whether high transaction volumes will translate into sustained demand for SHIB. If network usage picks up, SHIB could see further gains. But if active users keep dropping, the token's rally may lose steam.
Reaching the 1 billion transaction mark is a significant achievement for Shibarium, opening up new opportunities for Shiba Inu. Whether this will translate into a sustained SHIB rally remains to be seen, depending on Shibarium's continued development and user interest in its network capabilities.
