Shiba Inu Shatters Records, What Does This Breakthrough Mean For Crypto SHIB?

No, Shiba Inu is not yet on its way to the moon. The road remains strewn with disappointments for SHIB enthusiasts, but the team of Shytoshi Kusama has not said its last word. As always, a trump card is up its sleeve: Shibarium. This layer 2, intended to revolutionize the Shiba Inu ecosystem, continues to progress, recently reaching an impressive milestone with over 430 million transactions processed. Decoding.

Shibarium continues to surprise SHIB traders

Despite a desertion of investors, Shibarium, the scalability solution for Shiba Inu launched last year, has experienced rapid ascent with millions of daily transactions and a continually growing user base. However, after a lull in the last two quarters, the network has regained its strength in recent days. Just on October 22, 23, and 24, nearly 10 million transactions were recorded.

This surge in activity has allowed surpassing a new milestone with a total of transactions exceeding 430 million.

To summarize this dynamics, the numbers speak for themselves:

• Over 430 million total transactions;
• Nearly 2 million active crypto wallets;
• Over 7.5 million blocks processed.

These statistics demonstrate the ongoing enthusiasm for this L2 scaling solution, despite the turbulence in the altcoin market. The adoption of Shibarium comes with constant improvements, with updates aimed at making the user experience even smoother.

Shiba Inu: traders waiting for a revival of the memecoin

While Shibarium has reached a new milestone, SHIB investors are not yet celebrating. The meme-crypto remains down 6% over the past week, despite positive developments in the infrastructure.

Moreover, the general sentiment in the market remains pessimistic: according to Santiment, SHIB was among the 10 cryptocurrencies most affected by bearish narratives on October 23, the day the overall market experienced a notable correction.

Nevertheless, some analysts see this ambient pessimism as an opportunity: “Markets often move contrary to majority expectations, which could pave the way for an unexpected rise for those who choose to counter the trend.”

Traders are therefore hoping for a rebound in the Shiba Inu price, fueled by Shibarium’s advancements and efforts to invigorate the ecosystem.

In conclusion, this is not the first time that Shiba Inu’s layer 2 stands out. At the end of September, Shibarium had already shattered records with over 7 million blocks processed and a sharply rising burn rate.