Increasing Daily Transactions on the Shibarium Network: Will SHIB Price Rise?

• The number of wallets on the Shibarium network exceeded 1.3 million.
• Daily transactions on Shiba Inu’s Shibarium network surpassed 4 million.
• Despite the increase in transactions on the Shibarium, SHIB dropped by 3%.

The Layer-2 network Shibarium, developed by the Shiba Inu team and launched in August 2023, experienced a 40% increase in daily transactions on February 20, with daily transactions calculated at 4.21 million.

The rise in daily transactions on the Shibarium network reflects increased activity on the network. Simultaneously, the increasing number of transactions on the network indicates higher demand and more transactions taking place. So far, there have been more than 364 million transfers on the Shibarium network.

Source: Shibariumscan

Additionally, the number of wallet addresses on the network has surpassed 1 million, with the current count being 1,361,506. According to Shibarium data , the total number of blocks created is 3,289,272. Despite the increase in daily transactions on the Shibarium network, the SHIB price experienced a decrease of over 3% in the last 24 hours.

In addition, according to Shibburn data , only 2 million SHIB tokens were burned in Shiba Inu’s SHIB token burning mechanism in the last 24 hours.

Alongside the developments on the Shibarium network, according to CoinCodex predictions, the SHIB price may trade at $0.00001055 on March 22. If this prediction comes true, it represents an 11% increase from the current price.

Source: CoinCodex

At the time of writing, SHIB ’s price stands at $0.000009405, with the trading volume showing a 7% increase in the last 24 hours, reaching $230 million.