Shibarium Achieves 100 Million Transactions, Fueling SHIB's Rise - Exciting Developments Ahead!
Claude Pascal
Shiba Inu's Shibarium blockchain hits 100 million transactions, leading to an 8% price increase for SHIB token, with further growth expected as it transitions to Sepolia Network.
Shiba Inu's Shibarium blockchain has hit a major milestone, processing over 100 million transactions. This has led to increased exposure for the SHIB token, resulting in a significant price increase of nearly 8% in the past week, with a 23% increase in the past two weeks. Additionally, the broader market is ending the year on a positive note, and SHIB aims to follow suit.
Shibariumscan reports that the L2 chain has experienced exponential growth since its launch in August. Daily transactions have reached 7.36 million, with a total of 105.2 million transactions processed. The dev team's recent activities have contributed to this growth.
Shibarium is set to transition to the Sepolia Network as its layer 1 chain, providing developers with a reliable platform for testing dApps and smart contracts. The team has also announced two phases of SHIB burns, which will decrease the token's supply and increase its price.
SHIB's price is also influenced by the broader market rally, with a 6% increase in the daily timeframe. The bulls are aiming to stabilize the token at $0.00000997, which could lead to further gains. However, SHIB's reliance on major coins like ETH and BTC may be a long-term problem. If the market's trajectory changes, SHIB could face a difficult week.