In a surprising turn of events, Shibarium, the layer-2 protocol developed by the Shibarium development team under the leadership of lead developer Shytoshi Kusama, has witnessed an unprecedented surge in daily transactions, marking a new era for the Shiba Inu community.
August Mainnet Launch Overcomes Initial Hiccups
Shibarium made its debut on the mainnet back in August under the guidance of lead developer Shytoshi Kusama. Despite initial challenges and persistent FUD (Fear, Uncertainty, Doubt), the protocol overcame obstacles, demonstrating resilience and stability.
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Underwhelming Adoption Gives Way to Explosive Growth
Since its launch, Shibarium has been experiencing a relatively modest average of 13,000 daily transactions, with occasional fluctuations. However, a recent bullish phase has propelled the protocol into the spotlight. On November 29, daily transactions saw a significant spike from 16.63K to a staggering 748.23K, representing an explosive 4,399% surge and setting a new all-time high.
Record-Breaking Transaction Volume Continues
The momentum did not stop there. Shibarium experienced another remarkable surge from November 30 to December 1, recording a jaw-dropping 582% increase in transactions, reaching an astounding 5.11 million daily transactions. This figure not only shattered previous records but also underscored a growing trend in the network’s popularity.
Lucie, the Shiba Inu Marketing Specialist, Highlights Milestone
Lucie, a marketing specialist within the Shiba Inu community, quickly brought attention to this groundbreaking achievement.
#Shibarium transactions hitting new highs at 5.1M DT🚀
Increased traffic, soaring gas prices, and more burn – the momentum is coming slowly but surely 🔥 $BONE X $SHIB pic.twitter.com/dNjc9ObO1j
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) December 2, 2023
In a post, she celebrated the surge in daily transactions, pointing out that the network was now witnessing increased traffic and a notable rise in gas prices. The surge in gas prices is reportedly accelerating the amount of SHIB (Shiba Inu token) set to be burned, adding an extra layer of significance to the milestone.
Total Transactions Soar, Defying Expectations
As of Lucie’s initial disclosure at 00:14 UTC, Shibarium had 10,169,400 transactions. Remarkably, this metric has surged to 12,731,763 transactions as of the latest press time. This indicates a substantial increase of 2,562,336 transactions in just 12 hours, a staggering 19,610% larger than the daily average of 13K. Moreover, this figure is 242% more than the 748.23K transactions recorded throughout November 23.
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Growing Metrics Indicate Rising Adoption and Interest
Beyond the impressive transaction count, Shibarium has showcased other notable metrics, reinforcing the notion of increasing adoption. The network’s ability to maintain such high transaction volumes indicates a growing interest and demand, positioning Shibarium as a notable player in the blockchain space.
Investors and enthusiasts are now keenly observing Shibarium’s continued success, anticipating further developments and milestones as the protocol cements its position in the decentralized finance (DeFi) landscape. The Shiba Inu community remains optimistic, celebrating these achievements as they eagerly look forward to what the future holds for Shibarium.