Shiba Inu’s (SHIB) Shibarium, the layer-2 blockchain powering the popular meme coin, has experienced a meteoric rise in new users, according to data from Shibariumscan. Over the past 24 hours, the platform witnessed a staggering 450% increase in new accounts, jumping from just 6 to an impressive 27. This surge signifies a potential tipping point for Shibarium, indicating growing interest and adoption within the cryptocurrency community.
The influx of new users wasn’t the only metric to see positive growth. Active accounts on Shibarium also climbed by 23%, rising from 489 to 602. This suggests that existing users are not only holding onto their accounts but also actively engaging with the network.
Interestingly, the increase in user activity coincided with a rise in transaction fees paid using BONE, Shibarium’s native gas token. Transaction fees spiked from 19.31 BONE to 40.14 BONE, highlighting a potential increase in network traffic. It’s important to note that a portion of these fees are burned, effectively reducing the overall supply of SHIB and potentially contributing to a deflationary effect on the token‘s price.
The surge in activity on Shibarium comes amidst positive developments for the Shiba Inu token itself. Recent price movements for SHIB might be fueling renewed interest in the platform, as new users seek to explore the Shibarium ecosystem and potentially hold BONE and SHIB tokens.
While the reasons behind the specific user surge remain unclear, this significant growth signifies a period of potential expansion for Shibarium. Whether this newfound interest translates into sustained growth and wider adoption will depend on Shibarium’s ability to deliver innovative features and attract developers to build on its platform. However, this recent surge serves as a promising sign for the future of Shibarium and the Shiba Inu ecosystem as a whole.
