Shiba Inu’s layer-2 blockchain platform, Shibarium, has stunned the crypto market with an unprecedented surge in activity, recording a staggering 7,154% increase in daily transactions in just five days. The dramatic uptick, from 63,820 transactions on June 4 to a staggering 4.63 million by June 9, marks a striking reversal for the network, which had seen sluggish activity in late May amid broader market uncertainty.
The earlier lull was attributed to profit-taking and macroeconomic pressures that dampened investor sentiment across the cryptocurrency space. However, the recent explosion in Shibarium’s usage signals a resurgence of confidence, not just in the platform but in the broader Shiba Inu ecosystem. Network data underscores this revival: total transactions have now crossed 1.22 billion, blocks mined exceed 11.4 million, and wallet addresses have swelled to over 264 million.
The resurgence coincides with a broader uptick in Shiba Inu adoption. Lucie, a prominent team member, highlighted that SHIB holders have reached an all-time high of 1.51 million wallets—representing roughly 0.011% of the global population. This milestone reflects growing grassroots interest in the meme-inspired token, which has steadily evolved beyond its origins into a multifaceted ecosystem.
Adding to the momentum, Shiba Inu recently rolled out its upgraded SHIB DeFi toolkit, enhancing the platform’s functionality for earning, trading, and token burning—a mechanism designed to reduce supply and potentially boost value. The update appears to have reinvigorated community engagement, with SHIB’s price rising 3.22% in the last 24 hours to $0.000013. The token’s trading volume also surged by 90%, mirroring renewed optimism across the crypto market as Bitcoin reclaimed the $110,000 mark for the first time in weeks.
Analysts are now watching whether Shibarium’s explosive growth can sustain its pace. The layer-2 solution, designed to reduce fees and improve scalability for Shiba Inu transactions, has faced skepticism in the past. But its recent performance suggests it may finally be hitting its stride—offering a compelling case for the long-term viability of the Shiba Inu project beyond the hype. For now, the numbers speak loudly: after a quiet spell, the Shiba pack is back on the move.
