Shibarium Marks First Anniversary as SHIB Hit Weekly Highs

Shibarium, the Layer 2 blockchain within the Shiba Inu ecosystem, recently celebrated its first anniversary. Shytoshi Kusama, the project’s lead figure, marked the occasion with a post on X, sharing a celebratory “Happy Birthday” gif alongside the hashtag “#Shibarium.” This milestone highlights the growth and advancements achieved by Shibarium since its launch in August 2023, underscoring its critical role in the Shiba Inu ecosystem.

Major Developments in Shibarium’s First Year

In its first year, Shibarium handled over 417 million transactions and saw the creation of more than 1.8 million wallets. These figures reflect the blockchain’s strong adoption across various use cases, such as facilitating smart contracts and enabling NFT transfers. 

Additionally, Shibarium has made key advancements in improving user experience, including reducing asset withdrawal times from seven days to just 45 minutes. Another notable update is the integration of a fiat-on-ramp service, allowing users to purchase BONE directly with credit cards.

Surge in Shiba Inu Token Activity

At the time of Shibarium’s anniversary, the Shiba Inu token (SHIB) witnessed a notable increase in activity. Data from IntoTheBlock shows that large-scale investors, often referred to as whales, have been particularly active, with transactions valued at $100,000 or more increasing by over 81% in the past day. These transactions, totaling over 2.1 trillion SHIB, equate to nearly $30 million in volume, indicating intensified interest in the token during this period.

Shiba Inu Tokens Experience Price Shifts

In terms of market performance, the price of Shiba Inu (SHIB) experienced a modest increase of 0.66% in the past 24 hours, reaching $0.00001439 at the time of writing. Over the last seven days, SHIB has seen a cumulative price rise of 7.50%, posing a weekly high. 

Likewise, Bone ShibaSwap (BONE) recorded a 0.83% uptick in the past day, trading at $0.4143, with a 4.30% increase over the past week. Conversely, Doge Killer (LEASH) saw a slight dip of 0.05% in the last 24 hours, trading at $293.34, though it has gained 1.45% in value over the week.