The price of Shiba Inu has dropped nearly 5% over the last day of trading. In contrast, Shibarium’s total transaction volume has surpassed 1 billion for the first time ever.
Data indicates that SHIB (SHIB) has decreased by 4.8% in the past 24 hours, currently trading at $0.0000122. The token has been on a downward trend in recent days, seeing a decline of almost 18% over the past week and a reduction of 13% in the month.
Despite this price decrease, the layer 2 network Shibarium has achieved a significant milestone, having been developed to enhance the Shiba Inu ecosystem on the Ethereum blockchain. As per recent analytics, Shibarium has successfully processed 1.005 billion transactions since its launch in August 2023.
This milestone is particularly noteworthy as it took Shibarium around two years to reach over 1 billion transactions, while the Bitcoin (BTC) network took 15 years to accomplish the same feat.
Following Shibarium’s recent achievement, Shiba Inu saw a slight uptick in trading activity, with trading volume increasing by nearly 20% to $229 million in the last 24 hours.
On April 2, Shibarium recorded a daily transaction volume of 4.05 million transactions, with an average block time of just 5 seconds per transaction. The ecosystem now boasts over 194 million active addresses and has generated more than 10.25 million blocks.
At the end of March, Shibarium’s total value locked (TVL) rose by 24% to $2.5 million. Within the Shibarium ecosystem, ShibaSwap’s TVL increased by 37%, while WoofSwap and ChewySwap experienced growth of 31% and 20%, respectively. Around this time, the Shiba Inu token saw an additional decline, dropping 20% from its peak value.
Disclosure: This article is not intended as investment advice. The information and materials presented here are meant for educational purposes only.