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Sunday, July 14, 2024

Shiba Inu (SHIB) Achieves Another Massive Milestone: Details

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  • Shibarium’s usage and growth metrics show strong adoption, with transactions and wallet addresses increasing.
  • This growth could positively impact Shiba Inu’s price, which has seen a modest rise recently.

Shiba Inu’s layer-2 blockchain solution – Shibarium – continues to make waves, frequently smashing various milestones.

On February 19, daily transactions on the network surged to 3 million, whereas the number of total transactions surpassed the 360 million mark. Wallet addresses currently stand at more than 1.3 million, while total blocks exceeded the 3 million level at the beginning of the month.

Shibarium, which officially saw the light of day in August last year, is designed to service the needs of the Shiba Inu ecosystem. It aims at lowering transaction fees and improving speed. Those curious to find out more about its purposes and specifics, feel free to check out our dedicated video below:

Some experts have claimed that the further advancement of Shibarium could positively impact Shiba Inu’s price. The meme coin caught the recent green wave in the crypto market, albeit recording less substantial gains than other altcoins.

It is up approximately 10% on a two-week basis and a mere 3% on a monthly scale. According to IntoTheBlock, its latest rally had changed the trends, with 37% of holders making money at current prices. In comparison, almost 90% of Shiba Inu investors were underwater in September last year.

Despite the ups and downs in SHIB’s valuation in the past several months, the Shiba Inu community remains devoted to its favorite digital currency. As CryptoPotato reported in December, the self-proclaimed Dogecoin killer is the meme coin with the strongest supporter base.

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