Massive Milestone for Shiba Inu as Shibarium Activity Spirals

In a major development, Puppyscan data indicates that the Shibarium testnet has already crossed key benchmarks, processing transactions exceeding 38 million.

Despite a somewhat turbulent start weeks ago, Shibarium seems to be performing satisfactorily, as the latest data updates indicate. Upon reviewing the charts, the average number of transactions has been slightly over 170.7k.

Number of transactions. Source: Puppyscan

The average transaction count has reached 38.77 million, according to Puppyscan data. The number of wallets involved has also increased to approximately 17.08 million. The average block count has recently surpassed 3.16 million, with a new block being released every 5 seconds.

During the initial phase of Shibarium, the transaction volume remained relatively low. For instance, on Aug. 5, there were 101k transactions, which significantly declined to 10 transactions the following day. This downward trend persisted until Aug. 10, when the transaction volume increased to 136.7k. However, this increase was short-lived as the volume dropped to 116k the next day, eventually falling further to 16k.

The charts indicate a further decline to 0 between Aug. 14 and 15. The SHIB community was expressing major doubts about the project at this time.

However, despite this shaky start, Shibarium later took foot and now reports increasing transactions based on Puppyscan. Based on other charts, Shibarium has been collecting an average of over 11 ETH in transactions every day recently.