Peter Smith
The dog-themed cryptocurrency Shiba Inu (SHIB) has experienced a 6% price increase over the past 24 hours, coinciding with its layer-2 blockchain Shibarium reaching the major milestone of one billion transactions.
Shibarium (SHIB) Achieves Remarkable Billion-Transaction Milestone
According to data from ShibariumScan, the Shibarium network has officially crossed one billion transactions, marking a significant achievement for the Shiba Inu ecosystem. This milestone represents growing adoption and usage of the layer-2 blockchain solution. The network has shown steady growth since its launch, with the most recent transaction count standing at 1,002,443,175.
Daily transaction volumes have been particularly impressive, with four million transactions processed in the last 24 hours alone. This recent surge in activity has accelerated Shibarium's journey toward the billion-transaction benchmark and sparked excitement within the SHIB community, demonstrating increased confidence in the network's long-term growth potential.
SHIB Growth Metrics Show Expanding Ecosystem
Beyond transaction counts, other key metrics for the Shibarium (SHIB) network are also showing positive momentum. The total number of blocks has now surpassed 10 million, with the latest count at 10,237,553. Additionally, total addresses on the network have reached an impressive 193,962,182.
These statistics collectively paint a picture of robust ecosystem expansion for Shiba Inu's layer-2 solution. The growth in multiple metrics suggests increasing utility and adoption across various aspects of the network, not just in transaction volume.
Shiba Inu (SHIB) Price Rebounds After Five-Day Decline
After experiencing five consecutive days of price declines, Shiba Inu (SHIB) reached a low of $0.00001197 on March 31. At this point, buyers stepped in and initiated a recovery. As of press time, SHIB was trading at $0.0000127, representing a 4.83% increase over the previous 24 hours.
This price action occurs within a broader context of market recovery, with the majority of digital assets trading higher in the early Tuesday session. While traders remain cautious about short-term market conditions, a positive sign is that the lower prices appear to be attracting buyers back to SHIB.
SHIB Whale Activity Surges 465% Alongside Price Increase
Coinciding with the price recovery, on-chain data shows a dramatic 465% increase in Shiba Inu whale activity over the past 24 hours. According to data from IntoTheBlock, SHIB's large transaction volume—a key indicator of whale activity—jumped 465.17% to reach $45.53 million during this period.
This surge in large transactions suggests renewed interest from major holders or whales who appear to be either accumulating additional SHIB tokens or redistributing their existing holdings. This increased whale activity often signals changing sentiment among larger investors and can be a precursor to further price movements.
The combination of Shibarium reaching the billion-transaction milestone, improving network metrics, price recovery, and increased whale activity points to a potentially positive shift in momentum for the Shiba Inu ecosystem after its recent period of decline.
Peter Smith
