Shibarium, the Ethereum Layer 2 network developed by the Shiba Inu team, is on the cusp of achieving a remarkable milestone - 420 million transactions since its launch in August 2023. According to Shibariumscan data, the network has already processed an impressive 417.53 million transactions, with a daily transaction volume that has seen a significant 50% jump.

This surge in activity is a testament to the growing interest in Shibarium, which has been gaining traction since its launch. The network's average daily transactions now sit at around 9,000, and if this pace continues, it could reach the 420 million milestone in just eight months. However, with the current bull market and increasing crypto participation, Shibarium could potentially hit this mark even sooner.

Despite this positive news, the Shiba Inu price has been experiencing a decline, down 2.55% in the last day, with a significant 49% drop in daily trading volume. This suggests a decrease in interest in the Shiba Inu price, potentially due to the rise of newer meme coins like PEPE and BONK, which have seen substantial gains in recent weeks.

Shibarium's growth and adoption, however, remain promising, with the network's performance over the last month indicating a steady increase in usage. If this trend continues, Shibarium could become a major player in the Ethereum Layer 2 space, offering fast and efficient transactions for users.

As the cryptocurrency market continues to evolve, it will be interesting to see how Shibarium and Shiba Inu navigate this landscape. Will Shibarium's growth and adoption translate to a resurgence in Shiba Inu's price, or will the newer meme coins continue to steal the spotlight?