After a month of quiet paws, Shibarium, the Layer-2 solution for the popular meme coin Shiba Inu, has roared back to life with a staggering 200% increase in daily transactions over the past two days.
This surge marks a dramatic turnaround from its recent lull, reigniting optimism among the SHIB army and sending the platform’s gas token, BONE, leaping 6%.
Strong Showing: Shibarium Soars
Data from Shibariumscan reveals a notable ascent: On Saturday, transactions had slumped to a dismal 1.16 million, the lowest point in recent memory.
Awakened by increased activity, today recorded a remarkable 2 million transactions, surpassing the platform’s previous peak of 7.84 million in November.
So, what unleashed this furry fury? Gate.io, a major cryptocurrency exchange, appears to be the culprit in all the best ways.
Their recent integration of Shibarium allows users to finally break free from the shackles of centralized exchanges and withdraw BONE tokens directly onto the Shibarium network.
This marks a monumental milestone, signifying the first major partnership between Shiba Inu’s Layer-2 solution and a traditional exchange.
Now, easily purchase and send Bone to #Shibarium through Gateio. Appreciate this 👏
Thank you pic.twitter.com/TOjYOXe42k
— 𝐋𝐔𝐂𝐈𝐄 | Shibarium ⛓️ (@LucieSHIB) January 15, 2024
Gate.io’s decision is a significant step forward for Shibarium’s accessibility and opens up exciting possibilities for the platform, according to some analysts.
With over 285 million transactions under its belt, 1.3 million active wallets, and 2.6 million blocks stacked high, Shibarium’s network metrics tell a story of continuous growth.
SHIB market cap currently at $5.616 billion. Chart: TradingView.com
BONE Surge Fuels Shibarium’s Promising Future
And while the price of SHIB itself experienced a slight dip today, BONE, the fuel that powers Shibarium, surged an impressive 7%, suggesting investors are placing their bets on the Layer-2 solution’s future.
The question now: Is this just a fleeting blip on the radar, or the dawn of a new era for Shibarium? The SHIB community, ever hopeful, chooses to see it as the latter.
Some analysts say this could be a turning point for Shibarium. With more integrations and partnerships on the horizon, the platform has the potential to revolutionize how users interact with the Shiba Inu ecosystem.
Only time will tell if Shibarium can sustain this momentum. But for now, the Shiba Inu’s Layer-2 solution is back in the spotlight, its paws firmly planted on the gas pedal, and its sights set on a decentralized future for the meme coin revolution.
Featured image from Shutterstock
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