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In an exciting turn of events, Shibarium, the Ethereum-based layer 2 blockchain of Shiba Inu, has witnessed yet another crucial milestone in its overall number of transactions carried out on the platform.

Shiba Inu Blockchain Latest Milestone

The total number of transactions on the layer 2 blockchain has skyrocketed since Shibarium was launched, surpassing several crucial milestones. In addition, the blockchain is gaining enormous traction and has seen widespread utilization from its community members.

The Shiba Inu blockchain recently reached another important benchmark after surpassing the 300 million transactions threshold. This achievement comes just five months after Shibarium was introduced by the Shiba Inu team.

Data from Shibariumscan.io reveals that the total number of transactions carried out within the platform is sitting at 304,137,502. These transactions were carried out by approximately 1.3 million wallet addresses.

Shibarium’s performance goes beyond the total number of transactions on the network. The platform shows that over 2.7 million blocks have been processed, totaling 2,788,561.

Despite the development, the network’s activity appears to be slowing down. The data from the network’s tracker shows that the average daily count is sitting at 2.69 million. This is a drop from the average 7 million transaction count it recorded throughout last month.

Shibarium’s latest milestone comes amidst a massive whale transaction that saw over 400 billion Shiba Inu tokens being moved between unknown wallets. According to data from Etherscan, the transaction totalled 419,872,915,864 SHIB, valued at a whopping $3.87 million.

The reports show that the unknown wallet, identified as 0xecfB3971, moved the aforementioned funds to another unknown wallet address, 0xd373B9. The move has since raised speculations around the community because both addresses are still unrecognized.

SHIB Community Celebrates The Latest Heights

Members of the Shiba Inu community have been celebrating the latest achievement as Shibarium transactions have topped 300 million. The team has also shared the accomplishment on the social media platform X (formerly Twitter).

In the X post, the team highlighted that the ShibArmy had taken Shibarium transaction volume to unprecedented heights. The Shiba Inu team has always attributed such heights to its stellar community.

Furthermore, it stated that the Shibarium rollercoaster only goes in the “UP” trajectory. According to the comment, Shibarium’s transaction volume and other statistics are likely to rise continuously.

The post read:

SHIBARMY is driving Shibarium to new heights. This rollercoaster truly has only one direction: UP.

Currently, the price of Shiba Inu is still down despite the project’s milestone. SHIB is trading at $0.00000872, indicating a decline of over 4.50% in the last 24 hours.

Data from CoinMarketCap shows that Shiba Inu’s market cap is also down by the same percentage as its price. Meanwhile, although the price of SHIB is down, its trading volume is indicating an over 24% daily increase.

Shiba Inu

Shiba Inu Sees Substantial Whale Activity

A recent report revealed that a Shiba Inu whale has moved about 4 trillion SHIB tokens to an unidentified wallet. The whale activity came amidst the crypto asset’s price decline in tandem with the decline in the SHIB burn rate.

Data from the on-chain tracker, Whale Alert, shows the unknown wallet 0x9c570088…a22fd8b51b move 4,239,147,213,294 SHIB to the unknown wallet address 0x72c3f4fc…fa8d75d719.

The on-chain tracker reported that the whale transaction was valued at $45.12 Million as of the time the transfer was made. Despite the magnitude of this transaction, the gas fee used to initiate the transfer was significantly low.

Shiba Inu appears to be experiencing substantial whale activity of this size lately. This marks the second time that such transactions have been carried out in the past few days.

On Sunday, December 24, Whale Alert also reported another whale transaction carried out by an unknown wallet. The whale transaction saw a staggering 4.25 trillion SHIB being transferred to an unidentified wallet, according to the on-chain tracker.

The data shows that the aforestated SHIB was sent to the unknown wallet address 0x9c570088…a22fd8b51b by the wallet address 0x3ce6bed2…87d896c59f. As of the time of the transaction, the 4.25 trillion SHIB was valued at a whopping $46 million.

In just two days, over 8.4 trillion SHIB tokens have been moved between unknown wallet addresses. This has since sparked speculations within the Shiba Inu community about whether these transactions signify a bearish or a bullish move.

Nonetheless, the transfer of SHIB between unidentified wallets during a price decline might suggest that traders are feeling more confident.

Shibarium Reaches Another Transaction Milestone

Shiba Inu Layer 2 blockchain network Shibarium, has recently crossed a whopping 190 million in network transactions. This marks another major milestone for the project, indicating robust strength and activity within the ecosystem.

According to data from Shibariumscan.io, the total number of completed transactions within the network is approximately 192,000,000. In addition, approximately 1,320,000 active addresses on the network contributed to this significant number of transactions.

Furthermore, the Shibarium network’s daily transactions are currently sitting at about 7.53 million. Shibarium’s transaction volume has since increased from an average of 20,000 daily to over 7 million daily, putting the network in the limelight.

Since it initially went past 7 million transactions daily over the past weeks, the blockchain has continued to maintain within that range. The rise in daily transactions demonstrates the meme coin’s quick growth and widespread adoption in the past few months.

Currently, the price of Shiba Inu is down by 1% in the past 24 hours, trading at $0.00001067 as of the time of writing. Data from CoinMarketCap shows thatiIts trading volume is also down by 5%, currently sitting at $185.31 million.