- Shibarium, a Layer-2 blockchain designed for the Shiba Inu ecosystem, has accomplished 1 billion transactions just 18 months following its launch.
- This achievement signifies an increase in adoption and the strong performance of Shibarium.
- This milestone demonstrates the utility of the SHIB ecosystem, supports its burn mechanism, and may contribute to long-term value enhancement.
Shibarium, a Layer-2 blockchain for the Shiba Inu ecosystem, has now achieved 1 billion transactions within 18 months of its inception. This landmark reflects the growing adoption and impressive performance of Shibarium, processing 1 billion transactions and 10 million blocks without any significant outages. This milestone underscores the utility of the SHIB ecosystem, bolsters its burn mechanism, and may foster long-term value through increased scarcity and demand.
SHIB’s Layer-2 blockchain reaches the 1 billion transaction mark
On Tuesday, Shibarium shared on its official X account that it achieved 1 billion transactions since its launch in August 2023. These transactions were completed across 10 million blocks without any major outages or failures, indicating the technical reliability of Shibarium.
This accomplishment also emphasizes the rising adoption and activity within the ecosystem, reflecting the community support from the “ShibArmy.”
Shibarium’s transaction volume chart. Source: ShibariumScan
Shibarium aspires to evolve into a roll-up hub, facilitating custom Layer-3 roll-ups. This progression would empower developers to create more tailored applications on top of Shibarium, with BONE, the governance token of the Shiba Inu ecosystem, serving as the transaction gas token.
In the context of Shiba Inu, this milestone casts a positive light. It enhances the ecosystem’s utility, supports the burn mechanism, and may promote long-term value through elevated scarcity and demand.
However, traders shouldn’t anticipate an instant price impact on the SHIB token, as movements remain subdued. Memecoins are typically driven by speculative interest. At the time of writing on Thursday, it is trading around $0.000012, which is 50% lower than its yearly high of $0.000024 in January 2024, and 86% below its all-time high of $0.000088 in 2023.
All in all, this achievement serves as a commendable indicator of the ecosystem’s growth, although the price trajectory for SHIB will likely depend on widespread adoption, market dynamics, and ongoing community involvement.
SHIB/USDT weekly chart.