Shiba Inu (SHIB) has stood out as one of the rising stars in the cryptocurrency market, driven by growing optimism surrounding the shibarium, a powerful layer 2 network in the SHIB ecosystem, as well as, the evolution in its ecosystem. Recently, the Shibarium network reached yet another impressive milestone in the ecosystem.
Shiba Inu's layer 2 solution has seen an impressive rise in its transactions, reaching a record high as it approached the one million transaction mark recently. This represents a very significant milestone for the network, highlighting the growing adoption and use, as well as the growth of blockchain.
Data contained in a survey by the Shibariumscan platform showed an impressive 228,5% growth in transaction volume in the last 24 hours. The increase recorded a total of 958.440 transactions.
The last record that was set by the SHIB layer 2 network was recorded on March 16, when Shibarium processed a total of 1,04 million transactions.
It is worth remembering that, at the beginning of April, Shibarium, had reached a milestone cwith the total number of blocks on the network surpassing the 4 million mark. Furthermore, wallet addresses reached the 1,4 million mark.
At the time of publication, the Shiba Inu price it was quoted at US$ 0,00002251 with a drop of 4.2% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$1.125.315.742. In its weekly development, memecoin has seen a significant drop in its price, dropping more than 21% in the last seven days.
It is worth noting that the SHIB cryptocurrency has been experiencing a significant retraction in recent days, reflecting the general slowdown presented in the cryptocurrency market. The cryptocurrency market began a sharp decline recently amid geopolitical tensions in the Middle East over the weekend. Although the sector managed a notable recovery yesterday, most cryptocurrencies have entered retracement mode again in the last 24 hours with significant drops.
