Shibarium, the Layer-2 Scaling Solution on Ethereum, is on the verge of reaching one billion transactions, potentially impacting SHIB’s price.
Current state of Shibarium
According to Shibariumscan, the protocol currently records 941,104,799 transactions, leaving a shortfall of 58,895,201 to reach the milestone. At a daily transaction rate of around 4.5 million, the milestone should be reached in about 14 days.
Since its launch in August 2023, Shibarium has shown steady growth. It exceeded 500 million transactions last November. Currently, the block count is 9,443,090, with 2,111,200 hosted wallets, and a five-second block time making it a point of interest among top Ethereum scaling solutions.
Shiba Inu price impact
Shibarium’s advancement is often linked to SHIB's price. Experts suggest that the growing usage may increase demand for Shiba Inu, leading to potential price growth.
However, a significant price increase has not been observed since the protocol last passed a major milestone. Currently priced at $0.00001648, up 4.68% over the past 24 hours, SHIB has fallen over 32% in the past three months.
Future prospects and development
It remains uncertain whether the push towards one billion transactions will spark community hype and increased adoption. Shibarium maintains a healthy Shiba Inu burn rate and regularly undergoes updates.
Shibarium is making significant strides and is on the brink of an important milestone. The future growth may impact SHIB's price, although outlooks remain cautious.
