Shibarium Witnesses Extraordinary Surge in Transactions, Adding a New Dimension to Shiba Inu Ecosystem

In a remarkable turn of events, Shibarium, the Layer-2 blockchain solution affiliated with the Shiba Inu cryptocurrency, has experienced an unprecedented surge in transaction activity, marking a significant milestone for the SHIB ecosystem.

Yesterday, Shibarium witnessed a staggering 231% increase in transactions, soaring from 14,980 to an astonishing 34,670. This surge in transaction activity brings Shibarium’s cumulative transaction count since its full launch in August to an impressive 4.04 million.

The intriguing correlation between the surge in Shibarium transactions and the significant price movements of SHIB and BONE has sparked speculation within the cryptocurrency community.

Manny Pacquiao Foundation Chooses Shibarium for Fundraising and Operations in Shiba Inu Ecosystem

The Shiba Inu (SHIB) ecosystem’s cutting-edge blockchain solution, Shibarium, is set to play a pivotal role in the charitable efforts and operational activities of the Manny Pacquiao Foundation (MPF).

Shibarium, a Layer-2 blockchain built on the ethereum network, offers a cost-effective and efficient way for users to conduct transactions. Layer-2 blockchains, often referred to as off-chain applications, are constructed on top of a base blockchain. They are known for their speed and ability to reduce bottlenecks, making them a popular choice for projects seeking to enhance their scalability and user experience.

It’s worth noting that Shibarium faced some challenges during its initial launch in August, which left some in the community uncertain about its future. However, the blockchain has since demonstrated remarkable resilience and has been processing thousands of transactions each day, showcasing its potential to provide a reliable and efficient infrastructure for various applications within the Shiba Inu ecosystem.

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Price Overview

Daily chart for SHIB/USDT (Source: TradingView) SHIB rebounded off of the $0.00000775 support level over the past 48 hours, and was trading at $0.00000815 at press time. Should the meme coin stay on this upward trajectory, it may attempt to flip the $0.00000847 resistance level into support. Thereafter, continued buy pressure could boost the altcoin’s value to as high as $0.00000925 in the short term.

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By Team