Shibarium, the Layer-2 blockchain solution developed by the Shiba Inu team on the Ethereum network, has attained a significant milestone in transaction throughput. This development happened amid a notable correction in the crypto market, which has massively affected the SHIB price.
According to Shibariumscan, a block explorer for the Shibarium network, the platform has currently surpassed a total of 411 million transactions (411,635,572). This represents a wave of over 3 million transactions processed within the last few days with an average daily throughput of approximately 1.03 million. This achievement is particularly remarkable considering the recent decline in SHIB’s daily transaction volume.
Despite the recent price fluctuations, the Shibarium team remains focused on fostering ecosystem growth. A significant development in this regard is the strategic partnership with K9 Finance. As we earlier reported, SHIB lead developers Kaal Dhairya and Shytoshi Kusama, the anonymous lead for the SHIB project, have been appointed as official advisors for K9 Finance.
This collaboration coincides with the launch of KNINE, the native token of K9 Finance, on the Shibarium network. These developments are evidence of the team’s commitment to expanding the Shibarium ecosystem and attracting decentralized application (dApp) builders.
The price of SHIB, the second-largest meme cryptocurrency by market capitalization, often exhibits a correlation with Bitcoin (BTC), the leading cryptocurrency. SHIB tends to experience price increases alongside Bitcoin rallies and suffers price corrections during Bitcoin downtrends.
Following Bitcoin’s recent correction from the all-time high of $73,750, over the past few days, SHIB has experienced a 28.41% decrease in price, from 0.00003485 to the current price of $0.00002495, according to data from CoinMarketCap.
The recent price performance of SHIB might be discouraging for some investors, but it is important to consider the project’s ongoing development efforts. As earlier reported by Times Tabloid, SHIB received a notable mention on the Forbes top 10 list of cryptocurrencies to invest in.
It was also featured alongside Bitcoin (BTC) on the popular Utah-based financial program “Eye on Your Money.” This exposure, however, did not translate into immediate positive price movements for either cryptocurrency.
Looking ahead, the focus for Shibarium and the SHIB ecosystem should remain on achieving long-term growth through strategic partnerships, dApp development, and continuous technical improvements.
While short-term price fluctuations are inevitable in the cryptocurrency market, a robust development roadmap can position the project for sustainable success.
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