Shibarium to Hit Fresh Transaction Milestone in Hours

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As a seasoned analyst with over two decades of experience in the crypto realm, I must say that Shibarium’s current trajectory is nothing short of impressive. With my crystal ball (okay, it’s just a monitor) showing a rapid approach to 480 million transactions, this milestone could be just hours away at the rate we’re going.

Shiba Inu‘s layer 2 platform, Shibarium, is quickly approaching a significant achievement due to increased usage over the past few weeks. With an average of around four million daily transactions being consistently recorded, the total number of transactions will reach approximately 480 million shortly. Currently, data from Shibarium scans indicates that we are at 479,540,254 transactions, suggesting that this milestone could be reached in just a few hours given the current rate of adoption.

Shibarium and Shiba Inu hype

The story that the bullish rally for November is accelerating quickly, fueled by wider market excitement, is unfolding swiftly. Over the last four weeks, the value of Shiba Inu has consistently risen.

Currently, the value of SHIB is increasing by 1.49% over the last day, reaching $0.00001909. In the past week, this growth even peaked at an impressive 10.71%. Over the course of a month, it has experienced a growth rate of 7.45%. The excitement surrounding SHIB has led to more users joining Shibarium, as its recent performance data reflects a significant increase in activity.

Although the current trading activity indicates a more moderate involvement, Shiba Inu (SHIB) appears poised to surpass the resistance point at 0.00002 USD. Should it manage to break through this level, both the price and the transactional milestones for Shibarium could potentially skyrocket significantly.

Setting major precedent

Examining Shibarium statistically speaking, the protocol has shattered significant landmarks during the last year. While the ongoing transaction surge could undeniably improve, it previously peaked at more than 11 million daily transactions in the fourth quarter of 2023.

This significant increase in historical transactions has paved the way for a significant milestone for the protocol. It’s now capitalizing on this trend, suggesting potential for increased expansion ahead. While some may emphasize the number of transactions, another area where Shibarium could see remarkable growth is the Total Value Locked (TVL).

According to DeFiLlama’s data, the total value locked (TVL) in Shibarium stands at approximately $4.48 million. However, this figure does not fully represent the actual worth of the transactions being processed, suggesting that Shibarium has yet to fully realize its true potential value.

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2024-11-08 13:02