Since its official launch over six months ago, Shibarium has continued to evolve, offering users a robust and secure platform for conducting transactions. The network’s ability to process over 400 million transactions demonstrates its scalability and reliability, positioning it as a key player in the blockchain space.
The Shibarium team celebrated the milestone, with LUCIE, Shibarium’s Marketing Strategist, commending the community for its support and contribution to the network’s growth.
The increasing number of wallet addresses, which has now surpassed 1.3 million, reflects the growing adoption and usage of Shibarium among cryptocurrency enthusiasts.
Congratulation to everyone on #Shibarium !
400 M transactions! pic.twitter.com/zVYJmgX98A— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO
(@LucieSHIB) March 7, 2024
Market Outlook and Price Analysis
In addition to the milestone achieved by Shibarium, Shiba Inu’s native token, SHIB, has experienced a significant price surge in recent weeks. Trading at $0.000032, SHIB has witnessed a 230% increase in price over the past 14 days as the SHIBArmy continues to envision the $0.001 price point.
This surge in price has been accompanied by a surge in trading volume, which has exceeded $5 billion in the past 24 hours, outperforming other popular altcoins such as Dogecoin (DOGE), Cardano (ADA), and Ripple’s (XRP).
Shiba Inu Burn Rate Skyrockets to Maintain Top 10 Position
Recent data from blockchain tracking platform Shibburn reveals that Shiba Inu (SHIB) has burned about 410,723,783,567,187 tokens in its quest to remain one of the top 10 cryptocurrencies by market capitalization.
This substantial reduction in token supply marks a strategic move by the SHIB community to enhance the scarcity of the meme coin and increase its value.
Currently occupying 10th place, SHIB has displaced Avalanche (AVAX) and boasts a market capitalization of $18.9 billion. This achievement marks a key milestone for the dog-themed token, especially considering its recent struggle to break through the $0.00001 resistance level.
The growing success of Shibarium and the increasing adoption of SHIB highlight the potential for significant profits and losses due to the volatile nature of the cryptocurrency market. While SHIB’s price rally has offered holders the opportunity to profit, it has also underscored the need for caution and risk management when infusing in meme coins.
