669,053,714 Transactions, Shibarium Set for New Milestone
2024-12-18
Category: None

Shibarium, the Ethereum-based layer-2 scaling solution of the Shiba Inu protocol, is on the verge of a major historical record. Since its inception, the protocol has recorded a total transaction count of 669,053,714 as it looks set to breach another major milestone. The protocol could achieve this in days, with only 946286 transactions to breach the 670,000,000 record.
Shibarium optimism
Currently, Shibarium averages 4.5 million transactions a day, a trend lasting more than eight weeks. At this pace, it has been quite easy for the protocol to breach the 600,000,000 milestone this quarter, as reported earlier by U.Today.
Meanwhile, the broader Shiba Inu ecosystem has continued to face a stress test in terms of price action. The Shibarium transaction outlook and other metrics are a reasonable source of hope for SHIB proponents in general.
At the current pace, Shibarium will need to make an additional 30,946,286 transactions to hit the 700 million high. If the outlook is unchanged, the scaling solution may hit this milestone before the end of December.
Beyond the total transactions, Shibarium also boasts over two million registered wallet addresses and a 8.46 million block production. Thus far this year, Shibarium has registered wide adoption to register the milestones it has recorded thus far.
Shiba Inu price outlook
At the time of writing, the price of Shiba Inu has nosedived by over 5% in the past 24 hours to $0.00002567. This slip-off comes despite advances in other ecosystem performance checks, including but not limited to the SHIB burn rate and trading volume.
However, these major performance milestones might help Shiba Inu find its way back on track in the coming days. While the broader correlation with Bitcoin is wielding a bearish sentiment, a major SHIB rebound and a future rally are possible with the projected SHIB transaction boom.