Shibarium, Shiba Inu’s blockchain platform, has experienced a remarkable surge in activity, with new accounts soaring by an unprecedented 3,336% within a 24-hour period.
Shibarium’s Staggering Account Additions
As per data from Shibariumscan, user engagement spiked from 30 to 1,031. This has generated interest as to the factors driving the growth.
Notably, the staggering addition of over a thousand new accounts comes on the heels of worries regarding declining activity and interest in Shibarium. Additionally, there was substantial growth in the transaction volume which rose from 4,751 to 8,527 transactions – an 80% increase in transaction activity during the same timeframe.
The last significant growth in transaction volume occurred in the last week of May when it surged from 5,150 to 7,930. This represented a substantial growth of 53.9% at the time. Based on the data, the number of active accounts grew by 1,243 per day. This suggests that all transaction activity on Shibarium was driven by new users.
Notably, the reasons behind the unprecedented surge in blockchain activity for Shiba Inu remain uncertain. It is likely linked to the rising momentum of SHIB. The popular meme-inspired cryptocurrency, has seen over a 6% increase today and is changing hands for $0.00002565
Can Shibarium Maintain Growth Trajectory?
Interestingly, the Shiba Inu ecosystem has in recent times experienced significant surges in activities. When the Shibaium hard fork news was unveiled, the network recorded a 13% growth rate. The goal of the update then was to make the Shibarium network more usable for all.
Market watchers anticipate that this uptick in user engagement and transaction volume could signal a new phase of growth for Shibarium. While the push factors are open to speculation, the sustainability of the trend in the coming days will determine Shibarium’s position in market performance.
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