A significant upsurge of 160% in Shibarium transactions was observed within just 24 hours, marking a substantial increase in the network's activity. Data from Shibariumscan indicated that transactions on the Ethereum Layer-2 scaling solution soared to 562,980, a significant spike from the previous 352,000 figure. Despite a subsequent 63.2% drop from its peak of 958,500 transactions, the recent surge showcases the network's robust transaction capabilities.

Rising Daily Transactions and Network Growth

Recent reports highlighted a remarkable spike in daily Shibarium transactions, surging by an impressive 1000%. In a span of 24 hours, transactions soared from around 6,410 to 75,800, reflecting a substantial 1082% increase. Although this surge does not match previous record transaction volumes, the recent uptick to over half a million transactions reaffirms Shibarium's position in the L2 ecosystem. The total transactions since Shibarium's launch in August 2023 have now surpassed 415 million.

This surge in activity not only signals enhanced scalability, lower fees, and improved network speed within the Shiba Inu ecosystem but also coincides with a substantial increase in wallet accounts. Approximately 100,000 new wallets were added, bringing the total number of addresses to 1.782 million. Despite fluctuations in daily transactions, Shibarium metrics maintain steady performance, indicating sustained user engagement and network utilization. Typically, heightened activity often hints at potential price movements in a positive direction.

Price Trends in SHIB and BONE Tokens

Anticipations are high for potential reactions within the Shiba Inu ecosystem following the surge in transaction volume. The price of Shiba Inu (SHIB) has seen a 6.20% increase, trading at $0.00002274. Similarly, BONE, another Shiba-linked token, displayed a 6.12% growth to reach $0.6163 over the last 24 hours. These price movements suggest that the increased activity on Shibarium could positively impact the value of these altcoins, signaling positive market trends. With a renewed rally in sight, influenced by external factors such as the Bitcoin halving sensitivity, the sustainability of this upward trend remains to be seen.