Shibarium, the Layer 2 blockchain from the original minds behind Shiba Inu (SHIB), has shattered expectations by achieving a remarkable milestone in transaction throughput. An extraordinary impression 411 million transactions, Shibariumscan revealed the platform’s resilience to market volatility.

The recent surge in users and the influx of dApp developers have contributed to Shibarium’s exponential growth. Over 3 million transfers have been added in the last few days alone, solidifying Shibarium’s position as a force to be reckoned with in the blockchain space.

This achievement is particularly impressive given the current daily transaction throughput of 1.03 million, which, while down from the February 20 peak of 4.2 million transfers per day, reflects the platform’s stability and potential for further growth.

Source: Shibariumscan

Shibarium enters into strategic partnerships to develop its ecosystem

Aiming to strengthen its ecosystem and foster innovation, Shibarium recently entered into a strategic partnership with K9 Finance, a leading player in the financial technology industry.

This collaboration marks a major milestone for both parties as K9 Finance launches the native KNINE coin on the Shibarium platform. As a testament to their commitment, Shytoshi Kusama, the visionary leader behind SHIB, and Kaal Dhairya, the brilliant lead developer of SHIB, have been appointed official advisors to K9 Finance.

I remembered when $SHIB was in the news for the first time. This is truly amazing. Work @K9finanse it’s amazing. Community and team. I’m proud to be part of the advisors. LFG #K9Unit https://t.co/i1FJXs5qY0 pic.twitter.com/QLCob54Owy

— Xanders Shib🇻🇪 (@ShibaXanders) March 15, 2024

The partnership between Shibarium and K9 Finance demonstrates the platform’s commitment to fostering collaboration that drives growth and fuels its mission to revolutionize the blockchain landscape. This strategic alliance will undoubtedly open doors to fresh opportunities, leading to better user experiences and the creation of novel, decentralized applications.

SHIB is navigating complex waters amid market turmoil

While Shibarium celebrates its record-breaking achievements, the price of Shiba Inu (SHIB), the second largest meme cryptocurrency by market capitalization, has experienced a meteoric rise in recent days.

Showing correlation with Bitcoin (BTC) price changes, SHIB saw a 28% drop in value after Bitcoin corrected from an all-time high of $73,750.

Total crypto market cap. Chart: TradingView

Investors may find these price swings discouraging, but the broader context of SHIB’s ongoing development efforts should be considered. It is worth noting that SHIB has gained recognition and was included in the prestigious list of the 10 best cryptocurrencies worth investing in by Forbes magazine.

SHIB price action in the last 30 days. Source: Coingecko

Additionally, the cryptocurrency attracted attention in the popular financial program “Eye on Your Money”, where it was mentioned alongside Bitcoin. While these accolades did not result in an immediate price boost, they reinforce SHIB’s potential and the importance of its long-term growth prospects.

Featured image from Pixabay, chart from TradingView