- Shiba Inu’s price has dropped nearly 5%, continuing its downward trend over the past week.
- Meanwhile, Shibarium has achieved a major milestone, surpassing 1 billion in transaction volume since its launch in August 2023.
Shiba Inu (SHIB) has taken a noticeable dip in price, declining nearly 5% over the past 24 hours. As of the latest data, SHIB is trading at $0.0000122, down by 4.8% in just a single day. This slump comes on the heels of a more significant decline of 18% in the last week and a 13% decrease over the past month. Despite this downturn, the Shiba Inu ecosystem is witnessing a major achievement: Shibarium, the layer-2 blockchain solution designed to enhance SHIB’s capabilities, has surpassed 1 billion in total transaction volume for the first time in history.
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Shibarium, which launched in August 2023, has steadily been gaining traction, processing over 1.005 billion transactions since its inception. This milestone is impressive, particularly when compared to other major blockchain networks. For context, it took Bitcoin 15 years to hit the same transaction volume that Shibarium has achieved in just about two years.
The surge in Shibarium’s transaction volume is notable, reflecting growing adoption and usage within the Shiba Inu ecosystem. As of April 2, Shibarium’s daily transaction volume reached 4.05 million, with a quick average block time of just five seconds. The network currently boasts over 194 million addresses, indicating broad engagement within the ecosystem. Additionally, Shibarium’s total value locked (TVL) saw a 24% increase at the end of March, now sitting at $2.5 million.
While Shiba Inu’s price has faced headwinds, the Shiba Inu ecosystem’s broader developments are undeniably positive. ShibaSwap’s TVL rose by 37%, and other platforms within the ecosystem, such as WoofSwap and ChewySwap, saw growth as well. Despite SHIB’s price struggles, the increase in trading volume and Shibarium’s accomplishments suggest that the Shiba Inu project remains a significant player in the crypto space.
In conclusion, while Shiba Inu’s price continues to dip, Shibarium’s remarkable progress and ongoing expansion hint at a promising future for the Shiba Inu ecosystem, reinforcing its place in the rapidly evolving world of cryptocurrency.
