Shibarium, the layer-2 blockchain solution for Shiba Inu (SHIB), has reached a significant milestone, surpassing 700 million transactions. The protocol, which launched in August 2023, has seen strong user engagement and growth within a short period of time. It has also made improvements to its user interface to enhance compatibility with popular self-custody wallets. The main goals of Shibarium are to reduce transaction costs, improve scalability, and increase speed within the SHIB ecosystem. The milestone in transaction volume coincides with a 3.52% increase in the price of Shiba Inu. However, this price uptick came at the expense of over seven million SHIB tokens sent to dead wallets to manage supply and price value. Analysts believe that if SHIB can maintain its current momentum, a substantial rally may occur for the meme coin.



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