Shibarium Smashes Major New Milestone: Details

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Written By Maya Cantina
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Sat, 16/03/2024 – 11:21

Cover image via www.freepik.com

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Shibarium continues to attract new users and dApp builders to accelerate its utility. By now, this Layer-2 blockchain built by the SHIB developers on top of the Ethereum chain has reaches a significant new milestone to do with its transaction throughput.

This has been happening while SHIB has taken another painful price hit over the past 24 hours.

Shibarium reaches new milestone

According to Shibariumscan, Shibarium boasts a massive new achievement as it has stepped over the 411 million level of transactions. This metric currently demonstrates 411,019,727 transactions in total. More than 3 million transfers have been added over the past few days.

Shibarium scores a new milestone
Image via Shibariumscan

This new groundbreaking milestone has been achieved despite the daily transaction throughput remaining at the low level of 1.03 million after falling 4x since Feb. 20, when it showed 4.2 million transfers per day.

Recently, Shibarium scored a strategic partnership with K9 Finance. The SHIB lead Shytoshi Kusama and SHIB lead developer Kaal Dhairya have been appointed as K9 official advisors as K9 launched its native coin KNINE on Shibarium.

SHIB price takes big hit

The second largest meme cryptocurrency in terms of market capitalization value Shiba Inu mainly follows the leading crypto Bitcoin, scoring new price highs when BTC does so. Therefore, when the Bitcoin price shows a reversal, so does SHIB along with the majority of the altcoin market.

None of the SHIB team’s technical developments and frequent and ambitious upgrades introduced on Shibarium and within the SHIB ecosystem overall have led to any significant price surges unlike the recent series of Bitcoin all-time highs has.

Since Bitcoin has been correcting after hitting a historic peak at $73,750 two days ago, the Shiba Inu price has been plunging as well. Over the past two days, SHIB has gone down by more than 18%, falling from $0.00003485 to the $0.00002866 level.

SHIB gets mention on popular U.S. TV show

As reported by U.Today, this week, Bitcoin and Shiba Inu were mentioned by an anchor on the popular finance-themed program “Eye on Your Money” ran in Utah by KUTV. As one of the most popular TV networks in the country, it has provided BTC and SHIB with massive exposure to the U.S. television audience.

However, this remarkable event did not influence either Bitcoin or Shiba Inu prices positively.

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