Shibarium, Shiba Inu’s Layer-2 solution, has hit milestones in transactions and addresses. Shibarium’s TVL recently reached an all-time high, reflecting its expanding utility.
As Shibarium thrives, its impact on SHIB’s price and market momentum remains a focal point for investors.
Shiba Inu milestone in L2
The Shiba Inu’s L2, Shibarium, has recently crossed a major transaction milestone. In the past week, the number of transactions crossed the 500 million mark.
As of this writing, the transactions have crossed another milestone, going over 600 million.
Also, the L2 has seen another milestone in the number of addresses, crossing 2 million. Daily active addresses also surged recently, spiking to over 12,000 on the 8th of December.
However, it has declined as of this writing, dropping below 2,000.
Shibarium TVL explodes
According to the data, the Shiba Inu Shibarium’s Total Value Locked (TVL) has seen a meteoric rise, climbing to over $6 million—a level not seen before within the ecosystem.
This growth reflects increasing user confidence in Shibarium as a scalable solution within the broader Shiba Inu network.
The spike in TVL aligns with the network’s consistent uptick in transactions, suggesting that the platform’s utility is rapidly expanding.
SHIB correlates with Shibarium’s traction
As Shibarium grew in activity, SHIB experienced a notable rally. From the lows of $0.000017 in mid-June, SHIB’s price surged past $0.000027 in early December, tracking investor optimism and ecosystem development.
However, recent retracements in SHIB’s price highlight the market’s current consolidation phase. With Shibarium achieving new milestones, can SHIB sustain its upward momentum in the face of broader market fluctuations?
What lies ahead for SHIB?
Despite its recent retracement, SHIB remained in a strong uptrend on the daily chart. The 50-day moving average acted as support at $0.00002357, providing a potential bounce point for bullish momentum.
The RSI was 50.60, indicating neutral momentum but leaving room for upward movement if buying interest resumes.
Meanwhile, the volume has declined slightly, suggesting traders await a decisive breakout above key resistance at $0.000030.
SHIB’s price movement appears closely tied to the continued success of Shibarium.
Any positive developments in the ecosystem, such as further increases in TVL or new partnerships, could spark renewed investor interest.
