Shibarium Processes Record 7.4 Million Transactions, SHIB Price Sees Modest Increase

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Shibarium, the Layer-2 scaling solution for Shiba Inu cryptocurrency, has experienced a remarkable resurgence in activity. In just one day, it processed a record-breaking 7.4 million transactions, indicating a significant increase from its previous state of inactivity. This surge in activity is part of a long-term trend, as Shibarium has processed over 12.5 million transactions in just two days. Compared to its average of 10,000 daily transactions, this represents a 500-fold increase. The token burn rate of Shiba Inus has also seen a significant increase, with a 961.53% rise in the weekly burn rate. Despite Shibarium’s impressive performance, the price of the SHIB token has only seen a modest increase of 2.5%. The Shiba Inu community has also been alerted to potential scams, with fake links on CoinMarketCap posing a risk of unauthorized access to wallets. It is advised for community members to exercise caution and verify URLs before clicking on any links.

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