- Shibarium sees significant user activities as transactions and wallets rise.
- The blockchain has registered over 216M transactions and has 1.3M wallets.
- Shiba Inu’s burn rate also jumped 22% as over 13 million SHIB tokens were sent for incineration.
Shibarium, the Layer-2 blockchain of the popular meme coin Shiba Inu, continues to experience significant user activities with rising transactions and connected wallets.
According to data from Shibariumscan explorer, the Layer-2 blockchain saw a tremendous increase in its transaction volume. Presently, the daily transaction volume count stands at a whopping 7.84 million, a metric that has risen consistently since the start of the month.
Cumulatively, the total number of transactions on Shibarium stands at 216,030,830, with 1,320,188 blockchain wallets now linked to Shibarium, an increase of approximately a hundred units.
However, while the number of accounts on the blockchain grew through December, active users fell around the same period. At present, the number of active users is still down, although there was a slight rebound on December 24.
Importantly, the strides on Shibarium highlight recent efforts by the Shiba Inu community to transition the token from a mere meme token to one with varying utilities. Launched in August, the Shibarium is expected to facilitate the transition of Shiba Inu by offering multiple utilities to community members.
Meanwhile, the Shiba Inu burn rate has also seen a slight increase in the past 24 hours. According to data from Shiba Inu burn tracker Shibburn, the daily burn rate jumped over 22% after 13 million SHIB tokens were sent for incineration.
So far this month, around 24 billion Shiba Inu meme coins have been burned, as the community and network team double down on the commitments. Importantly, the aggressive burn is expected to shrink SHIB’s supply and help stir value growth for the token. On CoinMarketCap, SHIB has shown a mostly muted price movement in recent days. While the token is marginally up on the weekly chart, it has experienced a 2.13% decrease in the past 24 hours.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
