Shiba Inu’s layer-2 blockchain solution, Shibarium, has experienced a significant increase in daily transactions, reaching between 5 and 7.9 million. This surge has resulted in a total of over 80 million transactions. Additionally, Shibarium has surpassed the milestone of 2 million total blocks.

Despite the growth of Shibarium, the price of Shiba Inu has recently dropped by 3%, following the broader downturn in the cryptocurrency market. This decline has affected many SHIB investors, with only 23% currently holding paper profits.

However, Shiba Inu has shown positive growth potential, with a 15% increase over the past two weeks. Analysts, such as Twitter user Ali, have noted this performance and believe that there is further room for growth for the memecoin.