Ethereum of the Shiba Inu (SHIB) ecosystem $3,935.1 based Layer-2 solution Shibarium has crossed a significant threshold. According to Shibariumscan data, a total of 2 million wallet addresses have been registered on the Shibarium chain. The network achieved this success after a period of 16 months.
Shibarium’s Growing User Network
The number of wallets on the Shibarium chain reached 2,003,042. In total, over 620 million transactions were made on the network. The daily transaction average approached 4 million in November and the total number of transactions exceeded 500 million. The block production rate of the network remained constant at one block every 5 seconds.
Shibarium’s total block production has increased to over 8.2 million. Kaal Dhairya from the Shiba Inu developer team stated that their partner Zama offers fhEVM Coprocessor technology. “Zama’s #fhEVM Coprocessor paves the way for private and verifiable on-chain experiences,” said Dhairya. These innovations are expected to increase the number of users of Shibarium.
Value of Shiba Inu and Its Impact on the Ecosystem
Developments in Shibarium were also reflected in the value of the Shiba Inu token. SHIB gained 20.47% in value in the last month and was trading at $0.00003232 at the time of writing. The token has increased by 3.75% in the last 24 hours.
The 3 billion SHIB burned last week contributed to the price increase by reducing the supply in the ecosystem. Shiba Inu maintains its position as the second most popular memecoin in the market, also influenced by Elon Musk’s DOGE narrative.
The new milestones achieved by Shibarium allow Shiba Inu to attract more users and investors in the future. The network’s increasing transaction volume and strengthened infrastructure reveal Shiba Inu’s long-term growth potential.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
