The Shibarium transaction has reportedly reached a staggering total of 250 million after experiencing a surge in daily transactions. This surge follows the announcement of support for the Shiba Inu layer 2 network by an exchange.
Recent data shows that transaction counts on Shibarium quickly turned around and experienced a surge after a period of decline. In late December, daily transactions on Shibarium steadily grew, reaching 7.5 million. In the first week of 2024, there was a significant surge, with total transactions hitting 250 million. Interestingly, the past week saw a slower pace of growth in total transactions, as daily transactions dropped massively from 7.8 million to 1.16 million on January 13.
Over the past 24 hours, network activities seem to be increasing, as daily transactions have marginally surged to 1.97 million.
It is worth noting that Shibarium’s network metrics have been positive since its launch in August 2023, with a total transaction count of 285,079,328 as of press time. The total number of wallet addresses is 1,333,045, and the total number of blocks is currently at 2,657,777.
The recent surge in transactions has been attributed to the announcement that crypto exchange Gate.io would support the Shiba Inu’s layer 2 network. This announcement was shared by a member of the Shiba Inu team named Lucie.
Other exchanges have also announced their support for Shibarium. Last month, Australian-based crypto exchange GroveX expressed interest in integrating with the network. Prior to that, the exchange had declared its intention to establish a connection with a member of the Shiba team.
Turkey-based Bitcointr is one of the first exchanges in the crypto space and the first in the country to support Shibarium. This integration allows the exchange to provide support for various tokens in the Shiba Inu ecosystem.
As for the market sentiment, Shiba Inu is currently experiencing a bearish sentiment, trading at $0.00001 after a 0.5% decrease in the last 24 hours. However, investors have gained 3% on their investment in the past seven days. Analysts predict that Shiba Inu could reach $0.000027 this year.
On the other hand, Bone is trading at $0.655789 after a 4% surge in the last 24 hours. In the past seven days, the asset has experienced a 6% surge. It currently has a neutral market sentiment, and analysts expect it to reach $1.84 this year, with a worst-case scenario of $1.44.