Shibarium Hits 300M Transactions, SHIB Price Drops 6%

Share on Facebook Share on Twitter

SHIB Unresponsive to Shibarium’s New Milestone

Shibarium, the much-discussed Layer 2 of Shiba Inu [SHIB], has recently hit another milestone. Despite the high usage of the network, the blockchain’s native tokens have not benefited from it as they remained under the bears’ influence in the past few days.

Shibarium Reaches New Heights!

Since its launch in 2023, Shibarium has been a popular topic of discussion in the crypto community. The L2 has gained immense popularity in recent months and has recently crossed the 300 million total transactions mark, further proving its high usage. While the total transactions of L2 have crossed the 300 million mark, the total wallet addresses have exceeded 1.3 million. According to, the L2 has processed more than 2.7 million blocks with an average block time of five seconds. At the time of the press release, Shibarium had completed over 303 million transactions and recorded a daily transaction count of 2.69 million.

Shiba Inu Lags Behind

The price performance of Shiba Inu did not match the growing pace of Shibarium as the meme coin’s price chart remained red thanks to bearish market conditions. According to CoinMarketCap, SHIB has dropped by more than 6% in the past seven days. At the time of writing, it was trading at $0.000009015 with a market cap of over $5.3 billion. Although SHIB’s price action was bearish, its social metrics were on the rise. In fact, Shiba Inu was named the top coin of the day in terms of social activity on January 22. Our analysis revealed that Shiba Inu’s social volume has significantly increased in recent days. It was also interesting to see that despite a price drop, the sentiment around SHIB became bullish as indicated by the increase in its weighted sentiment.

You can also find us on Telegram: Click here to follow our Telegram channel.

The Outlook for SHIB

The possibility of a trend reversal in terms of price, however, seems unlikely as several metrics remained bearish. For instance, SHIB’s exchange inflow saw a sharp increase on January 23. This means that the selling pressure on the meme coin was high at the time of the press release. In addition, whales seemed to show little interest in SHIB in the past week as its supply by the top addresses chart remained flat.

Other Ecosystem Tokens Share the Same Fate

Besides Shiba Inu, other ecosystem tokens like Bone ShibaSwap [BONE] and Doge Killer [LEASH] shared a similar fate. BONE recorded a double-digit decline in the past week as its value dropped by over 14%. At the time of writing, it was trading at $0.5615 with a market cap of over $129 million. LEASH’s chart was also red as its value dropped by over 6% in the past week and was trading at $267.45.

Sources:, CoinMarketCap, Santiment

Share on Facebook Share on Twitter
Casinos: 9
Profile Shiba Inu
Symbol SHIB
Coin type Meme Coin
Transaction Speed High
  • High security thanks to ERC-20 token standard on ETH protocol
  • Well suited for an easy entry into the crypto world
  • Not yet widespread
  • Price fluctuations
Price 0,00 €
Percent Change 24h -0,61 %
Percent Change 7d -14,37 %
Percent Change 30d -28,36 %
Percent Change 60d -30,81 %
Percent Change 1y 151,12 %
Market Cap 9.993.192.357,00 €
Official Links
Socials Reddit | X
Best 3 Shiba Inu casinos

Latest News

Paula Winkler

Created by

After over 6 years in print journalism, I stumbled into the iGaming niche in 2017. One thing became evident to me quickly: Online Casino Reviews need more transparency! I joined the Team in 2023 and are the main expert for all topics related to „Player Security“.
In my private life, I am an active member of the volunteer fire department and enjoy the outdoors with my dog Ruby.
Reviewed by
Nerd of Numbers

Last update: 11. June 2024 Logo Advertising transparency

We are independent, transparent and funded by revenue we generate when you sign up at a casino through us.

Our goal is to help you make better decisions when choosing a casino by offering different information, providing filters and comparison tables, and publishing objective content. Thus, we give you the opportunity to research for free, compare casinos and make your decision based on that.

We cannot guarantee that a casino that is very good for us will fit your type of player and your circumstances.

Why trust us?

We work according to transparent editorial guidelines and disclose our testing methods as well as funding. This article may contain links to our partners, but this does not influence our objective view in any way.

We use cookies. By using this site, you accept them.