This Christmas, Shibarium of Shiba Inu Has Just Passed Another Big Milestone

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Last Updated on December 26, 2023 by Bitfinsider

Shiba Inu is celebrating a fantastic feat made by the Shibarium network in the joyous spirit of Christmas. The layer 2 network has reached a key milestone as network transactions recently reached previously unheard-of levels.

Shibarium, the Shiba Inu ecosystem’s Layer-2 blockchain network, has logged a whopping 180 million network transactions. The Shiba Inu blockchain network peaked at 7.82 million transactions on December 24, marking the largest day transaction volume since December 18, 2023.

The Shibarium network, according to sources, has successfully completed about 184,861,076 total transactions with an average block time of 5.0. This substantial sum was generated by around 1,319,240 active network addresses.

The significant increase in activities and transactions demonstrates the Shibarium network’s stability and growing appeal among Shiba Inu’s large user base. With the achievement of this huge milestone, interest in Shibarium’s future potential grows as the cryptocurrency’s large community awaits additional innovations and more record-breaking announcements.

The Shibarium network has seen huge transaction volumes over the last few months. Earlier in December, the layer 2 network had a significant increase in network transactions, topping the 100 million mark. The network went from tracking thousands to millions of transactions every day, effectively thrusting the Shiba Inu network into the spotlight.

Shibarium has made significant achievements this month, in addition to the increase in network transaction volume. In December, the Layer 2 blockchain completed its first hard fork. It also documented the successful migration of the Shibarium testnet to Sepolia, a new network designed to increase scalability and lower transaction costs.

Shiba Inu Burn Rate Continues to Increase

To add to their extensive list of accomplishments in the Shiba Inu ecosystem, the Shibarium team just completed its fourth SHIB burn, which resulted in the destruction of roughly 8,471,583,707 SHIB tokens worth $90,307.

Shibburn, a SHIB burn tracker on X (previously Twitter), reported the SHIB burn warning. The Shiba Inu crew had already completed a third burn, which cremated around 8.53 billion SHIB. In total, the SHIB team destroyed 17,005,148,400 SHIB tokens in less than 24 hours.

Furthermore, the Shiba Inu team burned approximately 33.8 billion SHIB tokens in just 18 days. This rising number of SHIB burns is yet another testament to Shibarium’s continued success, and the achievements are part of the Shiba Inu team’s dedication to improving the token’s utility and sustainability.

How to buy or trade SHIB on ProEX

You can buy or trade SHIB on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.

On ProEX, you can trade SHIB as a spot pair (SHIB/USDT) in 3 simple steps:

  1. Sign up and register an account on ProEX 
  2. Buy USDT via ProEX One-click Buy 
  3. Trade SHIB/USDT at ProEX Spot

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.