Shibarium Transactions Explode 760% Amid Rising Shibaswap Volumes
Shibarium, the layer-2 network of Shiba Inu, has seen an astonishing 760% spike in daily transactions. According to Shibariumscan data, this surge occurred between October 18 and 19, with a dramatic increase from 28,110 to 324,590 transactions per day.
This sudden rise in activity is a bullish sign for the meme coin's prospects. Previously, Shibarium's daily transactions had been relatively low, often dipping below 20,000. However, the current trend suggests an upward trajectory that could significantly boost Shiba Inu's price.
A key factor behind this growth may be the increase in trading volumes on Shibaswap, a decentralized exchange (DEX) launched on the Shibarium network in May. Recent data shows an 8% rise in weekly trading volume for the Shibex DEX, further contributing to the trend.