TL;DR

Shibarium has surpassed one billion total transactions, drawing praise from key team members for the communitys contribution. The milestone coincides with SHIBs resurgence, whose price has spiked by more than 5% on a daily scale.

The Huge Achievement

While Shibarium (Shiba Inus layer-2 scaling solution) stalled its activity at the beginning of March, it witnessed a significant revival lately. In the last several days, the processed daily transactions were in the millions, thus boosting the number of total transactions beyond the milestone of one billion. 

Prominent Shiba Inu team members noted the achievement, expressing gratitude to everyone who contributed. LUCIE Shibariums marketing strategist was among those:

A huge shoutout to our incredible devs, all the amazing Shibarium builders, and a special BIG shoutout to @woofswap!

Your contribution to this milestone has been massive, and your daily dedication is truly unmatched.

We see you—and we appreciate you! pic.twitter.com/0ktkhdzQOj

Shibarium is specifically designed to enhance the Shiba Inu ecosystem. It aims to improve transaction speed and costs, expand utility, and incorporate a token-burning mechanism. As such, some industry participants believe the protocols further development could have a positive influence on the SHIB price.

Earlier this year, the popular Bitcoin advocate Jeremie Davinci envisioned a remarkable rally for Shiba Inu if Shibariums adoption picks up:

I like Shiba Inu, as you know, and I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, its a chain that you can actually run all kinds of applications.

However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved, Shiba Inu will go to the moon.

SHIB Enters Green Territory

Shibariums latest milestone aligns with a significant resurgence for Shiba Inu, whose price has jumped by 5.5% daily while its market capitalization surged past $7.5 billion. Thus, the asset solidified its presence in the top 20 club and is, in fact, the best performer on that list today (April 1). 

SHIB Price, Source: CoinGecko Meanwhile, SHIBs exchange netflow in the past week suggests the bullish momentum could reign a bit longer. According to CryptoQuants data, more tokens have been withdrawn from centralized platforms than deposited, signaling that investors are moving their assets to self-custody. This trend typically reduces the immediate selling pressure.