According to Shibariumscan, Shiba Inu’s Layer-2 blockchain invention, Shibarium, has seen an unheard-of spike in activity. The number of daily transactions on the site has increased dramatically in only the last 24 hours, rising from 288,690 to an astounding 347,460.
This spike, which peaked on March 25, is a noteworthy 6,171% increase from just four days before, indicating a significant change in the dynamics of the Shiba Inu network.
The current spike is a breath of fresh air for Shibarium fans after a protracted period of muted transactional activity. In the last three days, there has been a consistent increase in network activity, which has given the community hope.
The total amount of transactions executed by Shibarium has now surpassed 412.61 million, demonstrating the platform’s increasing prominence in the cryptocurrency world and serving as a testament to this newfound momentum.
Interestingly, there has been a significant increase in the number of accounts interacting with the network in tandem with the spike in transaction activity. The number of active accounts increased to 14,321 in only one day, a whopping 218.33% rise from the day before. In a similar vein, the number of new accounts opened skyrocketed by 173% to 9,439.
All eyes are naturally focused on the price fluctuations of tokens associated with Shiba Inu, particularly SHIB and BONE, as conjecture about the possible ramifications of this spike intensifies. But the question of sustainability is just as compelling: how long will this era of strong growth last, and will Shiba Inu’s blockchain maintain its newly found momentum?
