Shiba Inu (SHIB) on the Verge of Hitting a Massive Milestone

2023-10-03 08:32:43

TL;DR

Shibarium Achievements: Shiba Inu’s layer-2 solution, Shibarium, has reached nearly three million completed transactions and has over 1.25 million wallet addresses within two months of its launch.
Potential Impact: Shibarium, introduced to reduce fees and enhance transaction speed, might positively influence SHIB’s market valuation as its use increases.

Transactions are Booming

The layer-2 scaling solution of Shiba Inu – Shibarium – continues to smash records less than two months after its official launch. In this article, we will touch upon the latest achievement the network has reached.

As revealed by Shibariumscan, the total number of completed transactions has recently spiked to almost three million. In addition, the success rate has been hovering between 0.97 and 0.99 for the past month.

The total number of transactions (including pending, dropped, replaced, and failed ones) is even more impressive, currently standing at approximately 3.3 million.

The number of wallet addresses has also been gradually rising. The latest data shows that the figure is more than 1.25 million.

Shibarium’s Birth and Purpose

The L2 blockchain solution officially saw the light of day at the end of August with the goal of helping Shiba Inu (SHIB) claim a top position in the realm of memecoins. Specifically, it aims to lower transaction fees and improve speed.

Some analysts and experts have argued that Shibarium’s further advancement could positively affect SHIB’s price. Such an example is the pseudonymous X (Twitter) user “Shib Informer,” who suggested that additional utilization of the layer-2 scaling solution is among the key factors that could boost the memecoin’s valuation in the future.

Those curious to find out more about Shibarium’s launch and purposes can take a look at our dedicated video below:

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