Shibarium, built for the Shiba Inu blockchain, reaches 1 billion in transactions in 18 months after its launch

Shibarium, a Layer-2 blockchain for the Shiba Inu ecosystem, has reached 1 billion transactions 18 months after its launch. This milestone reflects Shibarium’s growing adoption and robust performance, with 1 billion transactions and 10 million blocks without major outages. This achievement highlights SHIB’s ecosystem utility, supports its burn mechanism, and may drive long-term value through greater scarcity and demand.

SHIB’s Layer-2 blockchain reaches 1 billion transactions

On Tuesday, Shibarium announced on its official X account that it had reached 1 billion transactions after its launch in August 2023. These transactions were processed in 10 million blocks without major outages or failures, suggesting Shibarium’s technical robustness. 

This milestone also highlighted the increasing adoption and activity within the ecosystem, also showcasing community support from the “ShibArmy.”

Shibarium’s number of transaction chart. Source: ShibariumScan

Shibarium aims to evolve into a roll-up hub, supporting custom Layer-3 roll-ups. This development would allow developers to build more specialized applications on top of Shibarium, with the BONE (governance token of the Shiba Inu ecosystem) serving as the gas token for transactions.

Looking down on Shiba Inu, this milestone has a positive outlook. It enhances its utility within the ecosystem, supports the burn mechanism, and could drive long-term value through increased scarcity and demand. 

However, traders should not expect an immediate price impact on the SHIB token, as it is muted. Memecoins are generally driven by speculative interest. At the time of writing on Thursday, it trades around $0.000012, 50% lower than its yearly high of $0.000024 in January 2024 and 86% down from its all-time high of $0.000088 in 2023. 

Overall, the achievement is a positive signal for the ecosystem’s growth, but SHIB’s price trajectory will likely depend on broader adoption, market conditions, and continued community engagement.

SHIB/USDT weekly chart.