In a recent tweet, Shiba Inu celebrates the remarkable growth of its layer-2 solution, Shibarium, sharing a chart depicting the surge in Shibarium transactions, now reaching an impressive 300 million.
“SHIBARMY is propelling Shibarium to new heights. This rollercoaster truly has only one direction: UP,” captions Shiba Inu alongside the chart.
Developed on Ethereum, Shibarium aims to alleviate transaction fees within the Shiba ecosystem. Despite Ethereum’s robust security, it faces challenges like high gas fees.
Shibarium, officially launched on the mainnet in August 2023 after extensive development and testing by the Shiba Inu team and community, has experienced substantial growth in total transactions within just five months.
As per Shibariumscan explorer, total transactions have surpassed 300 million, standing at 304,302,131. Wallet addresses now total 1,343,792, and total blocks amount to 2,789,983.
Shibarium holds expectations not only as a scaling solution for Shiba Inu but also as a hub for innovation and collaboration. Serving as the foundation for decentralized applications (dApps) like Shib: The Metaverse and Shiba Eternity, it fosters diverse projects, platforms, and services within the broader Shiba Inu community.
Lucie, a SHIB team member, shares optimistic expectations, stating, “Shibarium is just a baby. So many cool new projects are brewing in the background—not just one, but many that will surprise sooner or later,” in a tweet.
Simultaneously, Shiba Inu’s token burning initiatives continue to make strides. Lucie announces that the Shibdream NFT collection recently burned 100 million SHIB. In the last 24 hours alone, a total of 146,261,497 SHIB tokens were burned in five transactions, per Shibburn.
