Shiba Inu’s Shibarium Up 54% in Transaction Spike Amid Adoption Milestone

The Shiba Inu ecosystem is gaining momentum once again, as Layer-2 blockchain Shibarium has seen a 54% spike in transactions over the past 24 hours. Daily transactions increased from 2.01 million to 3.1 million, indicating increasing interest and engagement on the Shibarium network.

In tandem with the transaction jump, Shibarium’s total addresses have achieved a new high of 204,182,966, indicating growing user interest and participation.

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Other Shibarium measures are also showing an increase. As of the most recent count, the Shibarium network had completed 1,133,559,932 transactions in total. The recent increase in daily transactions has contributed to this increase. Total blocks have surpassed 10 million, with the most recent figure at 10,791,495.

Shiba Inu burn rate jumps 22,598%

Not only have Shibarium transactions increased, but the SHIB burn rate has risen by a staggering 22,598%, with millions of tokens removed from circulation. According to Shibburn, 25,770,312 SHIB were burned in the last 24 hours, marking a 22,598.92% increase in daily burn rate.

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The surge in token burn rate coincides with a 54% increase in transactions on Shibarium, SHIB’s Layer-2 blockchain, highlighting increased activity in the Shiba Inu ecosystem. In the last seven days, a total of 337,663,581 SHIB had been burned, signifying a 297% rise in weekly burn rate.

Meanwhile, Shiba Inu’s price is yet to match the increased activity in its ecosystem, with its price stuck in a range. After reaching a high of $0.00001525 on April 26, Shiba Inu declined to trade in a range.

At the time of writing, SHIB was down 2.5% in the last 24 hours to $0.00001231 and down 6.8% weekly, reflecting the current profit-taking in the crypto market.