Shibarium Back to Peak Level as SHIB Price Rebounds
2024-11-05

The Shiba Inu SHIBUSD ecosystem is seeing a positive change as Shibarium, its layer-2 scaling solution, is operating at near-full capacity again. This comeback comes after network struggles and SHIB price rebounds, showing that investors and the wider crypto community are regaining confidence. At the time of writing, SHIB was trading for $0.00001724, up 5% in 24 hours
Shibarium adoption soars gradually
At its peak, Shibarium saw its transaction count jump as high as 4.75 million, another seven-day high for the protocol. According to Shibarium scan data, the transaction count increased from a low of 4.21 million on Nov. 1 to 4.74 million. The total number of transactions is about 466,168,458, with 7,722,563 blocks produced at an average block time of five seconds. 
With such values, Shibarium is one of the most utilized L2 blockchains. This record could drive more users to the network, bringing increased use cases to SHIB. Undoubtedly, the rebound in SHIB’s price is closely tied to Shibarium’s recovery. 
Investors view Shibarium stability as a critical yardstick for the ecosystem's health. The protocol sets SHIB apart from other meme coins by giving it a real-world utility. After recording 324,590 transactions on Oct. 19, Shibarium’s daily transactions fell back to 128,050 two days later. After this, it grew gradually, recording 1.77 million on Oct. 22 for the first time in about a year. This metric has since been soaring in the millions, with a mix of significant drops.
It finally hit a new 52-week high of 4.77 million on Oct. 25.
Shiba Inu’s growth is no longer just based on speculation. The ecosystem is growing, with new projects like ShibaSwap, a decentralized exchange, and Bone ShibaSwap BONEUSDT, the governance token for Shibarium. As Shibarium remains stable, the demand for SHIB, BONE and other tokens in the ecosystem increases.
SHIB community anticipates good news
Meanwhile, the SHIB ecosystem is currently in hyper-bullish mode. This began after LUCIE, the network’s marketing lead, released a four-word post on X. "Step by Step. Patience," she wrote. While this statement does not mention Shiba Inu, Shibarium or even the much-anticipated SHI stablecoin, it sounds like encouragement to the SHIB Army.
The post urges them to remain patient and believe that the best times for the Shiba Inu ecosystem are ahead.