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That's a moonstone, not just a milestone! LucieSHIB/Twitter

KEY POINTS

  • Shibarium has processed more than 100 million transactions within four months
  • SHIB reacted positively to this milestone, showing a huge gain in the past 24 hours
  • Shiba Inu continued to trade in the green zone at $0.00001015 in the early hours of Thursday

Shiba Inu (SHIB), the dog-themed altcoin launched in August 2020, saw a significant gain this week as its layer-2 scalability solution, Shibarium, broke the 100 million transaction count threshold.

After "eating a zero" earlier this month, SHIB, the native cryptocurrency of the Shiba Ecosystem, showcased its strength when it saw an 8% gain early Thursday to $0.0000102.

The sudden surge in the price of the Shiba Inu token could be attributed to a major milestone Shibarium achieved this week. The layer-2 scalability solution hit more than 100 million transactions Wednesday, indicating robust activity within the Shiba Ecosystem.

Aside from this, data from Shibarium.io showed the wallet addresses on the Shibarium network significantly surged to 1,307,779, highlighting the ever-expanding community surrounding the crypto asset.

Since its launch in August, Shibarium has processed 2,108,846 blocks, while maintaining an average of 7.5 million daily transactions over the past weeks.

The latest achievement is also impressive considering that Shibarium broke through the 80 million threshold (total transactions processed) just a few days ago.

"Remember, it is still in the blockchain infancy, akin to a newborn baby," a Shiba Ecosystem and Shibarium Tech marketing specialist, who uses the X handle @LucieSHIib, told International Business Times. "The full potential will be unveiled in the upcoming months. Shib magazine recently unveiled an updated wallet, and the anticipation is high for ShibaSwap 2 and Daos with Treat."

She clarified that the Treat token is not yet officially launched.

Shiba Inu's official X account dubbed the feat a "moonstone," and thanked the Shib Army, the ever-fierce and loyal members of the community, for making it possible.

Shiba Inu continued to trade in the green zone at $0.00001015 as of 4:31 a.m. ET on Thursday, with a 24-hour trading volume down by 4.50% at $190.6 million. The latest price action represents a 7.75% increase in the past 24 hours and a 3.4 gain over the last seven days.

Shiba Inu's circulating supply stands at 589.35 trillion SHIB, with its value continuously spiking by 7.76% at a $5.9 billion market cap, according to data from CoinMarketCap.

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