Shibarium, the Shiba Inu protocol’s Ethereum-based layer 2 scaling solution, is on the verge of a major all-time high. Since its inception, the protocol has recorded a total transaction count of 669,053,714, and it looks set to surpass another major milestone. The protocol could achieve this in days, with just 946286 transactions to surpass the record of 670,000,000.
Shibarian optimism
Currently, Shibarium averages 4.5 million transactions per day, a trend that has lasted more than eight weeks. At this rate, it has been quite easy for the protocol to surpass the 600,000,000 milestone this quarter, as U.Today previously reported.
Meanwhile, the broader Shiba Inu ecosystem has continued to face a stress test in terms of price action. Shibarium’s transaction outlook and other metrics are a reasonable source of hope for SHIB advocates in general.
At the current rate, Shibarium will need to make an additional 30,946,286 transactions to reach the maximum of 700 million. If the outlook does not change, the scaling solution could reach this milestone before the end of December.
Beyond total transactions, Shibarium also has more than two million registered wallet addresses and a production of 8.46 million blocks. So far this year, Shibarium has seen widespread adoption to record the milestones it has recorded so far.
Shiba Inu Price Outlook
At the time of writing, the price of Shiba Inu has fallen by more than 5% in the last 24 hours to $0.00002567. This lapse comes despite progress in other ecosystem performance checks, including but not limited to SHIB burn rate and trading volume.
However, these important performance milestones could help Shiba Inu get back on track in the coming days. While the broader correlation with Bitcoin exerts bearish sentiment, a major SHIB bounce and future rally is possible with the projected SHIB trading boom.
