Shiba Inu’s Shibarium, a layer 2 solution designed to improve the functionality of the meme-inspired cryptocurrency, has seen a surprising surge in activity, recording a monumental 1,733% increase in new accounts in a single day.
Shiba Inu’s Shibarium, a layer 2 solution designed to improve the functionality of the meme-inspired cryptocurrency, has seen a surprising surge in activity, recording a monumental 1,733% increase in new accounts in a single day.
The data, coming from Shibariumscanreveals an unprecedented increase as the network welcomed 780 new accounts, a stark contrast to the 45 registered just the previous day.
This increase in activity has also led to a significant increase in active accounts, which skyrocketed by an impressive 148%, from 977 to 1,453 in the same 24-hour period. The cause behind this sudden increase may fuel speculation, but it undoubtedly underlines an extraordinary phenomenon unique to the Shiba Inu network.
Despite the exponential growth in new accounts, transactional activity within Shibarium has yet to return to its previous levels. Only 5,900 transactions were recorded within the Shiba Inu network during the previous day, a notable decrease compared to its peak of seven million transactions per day at the beginning of the year.
Now the question arises: can the influx of new users eventually drive transactional activity on Shibarium to its all-time high levels?
While attention remains focused on Shibarium’s on-chain resurgence, speculation is rife about the potential impact of this growing online activity on the Shiba Inu ecosystem, particularly on the dynamics of the token market. Market participants should closely examine the performance charts of Shiba Inu (SHIB) and BONE, anticipating the ripple effects of this development.
