Altcoins

Shiba Inu Celebrates Another Massive Shibarium Milestone

With Shibarium surpassing the 300 million transaction mark, the Shiba Inu has taken to the X platform to celebrate the jaw-dropping milestone.

The team behind the Shiba Inu ecosystem has reacted to the recent feat achieved by its Layer-2 (L2) blockchain Shibarium.

Shibarium Total Transactions Surpasses 300 Million

For context, Shibarium achieved a significant milestone recently after its transactions surpassed 300 million. The development comes five months after the Shibarium team launched the scaling solution on the mainnet.

With Shibarium total transactions surpassing 300 million, members of the Shiba Inu community have been celebrating the astounding feat. Interestingly, the official X handle of Shiba Inu also joined the community in reacting to the achievement.

Shiba Inu Celebrates Shibarium New Height

In a tweet yesterday, the Shiba Inu ecosystem team stated that the SHIBArmy, a title given to Shiba Inu supporters, has driven Shibarium transaction volume to new heights. It added that the Shibarium rollercoaster only moves in the “UP” direction.

#SHIBARMY is driving #Shibarium to new heights. This rollercoaster truly has only one direction: UP! 🚀 pic.twitter.com/c0pNpxHgf5

— Shib (@Shibtoken) January 22, 2024

The comment suggests that Shibarium will continue to record a massive spike in transaction volume and other stats.

This is not the first time the team has celebrated a major Shibarium milestone. Recall that an hour after Shibarium processed 100 million transactions on December 13, the team described the feat as a moonstone, not just a milestone.

In the meantime, the total number of transactions on Shibarium now stands at 303,923,111 (303.92 million). Additionally, the L2 network boasts a total of 1,343,571 (1.34 million) with 2,787,252 (2.78 million) blocks minted.

Shibarium Daily Transactions Plunge

Notably, Shibarium’s daily transaction count has decreased significantly in recent times. Shibarium, which attracted the crypto community’s interest by consistently processing over 7 million transactions daily for weeks, is now handling below 3 million transactions in 24 hours.

Over the past day, Shibarium has processed 2.69 million daily transactions. The massive plunge in Shibarium daily transactions represents the current mood in the crypto market. Activities across various crypto-related protocols have reduced massively due to the high volatility in the market.

On the other hand, Crypto whales, or large holders, are taking advantage of the massive plunge in the price. As reported yesterday, an Ethereum whale accumulated 606.3 billion SHIB worth around $5.9 million.

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