The Shiba Inu community is buzzing with excitement as Shibarium, the Layer-2 scaling solution for Shiba Inu, achieves a significant milestone by processing over 412 million transactions. This accomplishment underscores the growing adoption and functionality of Shibarium, reflecting the robust growth and enthusiasm within the Shiba Inu ecosystem.

Shibarium Transactions Milestone

Since its launch in late August 2023, Shibarium has been experiencing rapid growth, surpassing 3.8 million total blocks and processing over 412 million transactions. According to data from the Shibariumscan explorer, the platform has recorded over 412,407,305 transactions, with total blocks reaching 3,825,223 and wallet addresses totaling 1,383,613.

While Shibarium has demonstrated impressive performance, it has experienced a slight decline in its daily transaction count, currently standing at 6,700.

New Partnership with BlueBit Sparks Community Excitement

In a move that adds to the excitement, BlueBit, a centralized exchange based in Dubai and Saint Vincent, has announced a strategic partnership with the SHIB community. This collaboration is anticipated to strengthen the relationship between the SHIB and Sparrows communities, setting the stage for new achievements together.

As part of this partnership, BlueBit has integrated Shibarium into its platform, providing users with access to a broader range of digital assets and advanced blockchain solutions. This integration is poised to enhance Shibarium’s visibility and usability, attracting a wider audience of users and investors.

The Shiba Inu development team has also focused on enhancing security within Shibarium. Measures such as the adoption of Fully Homomorphic Encryption (FHE) and a self-sovereign identity (SSI) approach aim to ensure greater data privacy and security for users.

Shiba Inu (SHIB) Price Analysis

Shiba Inu has experienced notable price fluctuations in recent weeks. Following a significant price surge at the beginning of March, with SHIB peaking at $0.000045 on March 5, the token saw a subsequent decline as holders took yields. This led to a drop in price, reaching a low of $0.0000235 on March 16.

Since then, SHIB has been trading in a range, fluctuating between $0.000023 and $0.000030. On-chain data from IntotheBlock supports this price movement, indicating significant activity in terms of SHIB purchases.

The partnership with BlueBit, combined with Shibarium's transaction milestone, reinforces Shiba Inu's position in the cryptocurrency market and signals further growth and development within its ecosystem.