Last Updated on November 5, 2023 by Bitfinsider
Since its introduction, shibarium has had remarkable growth and adoption. The layer-2 solution has shown significant momentum over the course of the months, growing in a number of metrics. Shibarium is getting very close to reaching the 4 million transaction milestone overall. Whale activity has increased concurrently with the recent uptick in huge transactions.
Shiba Inu’s own scaling solution is gaining traction at an astonishing rate. Shibarium has gained popularity and is now the go-to platform for both SHIB whales and regular investors to purchase and trade SHIB tokens.
Shibarium was one of the top-performing networks this month, according to NOWNodes, since the blockchain node provider processed 66 million queries to Shibarium. The network is getting close to four million transactions in less than three months since it launched, and there are no indications that it will slow down.
3.81 million transactions have been made as of the time of writing, according to data from Shibariumscan, and 1.51 million blocks had been mined. In the last 24 hours, there have been 13,700 daily transactions, and there are now more wallet addresses than there are people in the world (1.26 million).
Whales that are Shiba Inus have also become more active. The Shiba Inu ecosystem had a 45% increase in major transaction volume, reaching $46.12 million by the end of October, according to data.
The price of SHIB has always been positively impacted by previous news regarding shibarium. Excitement is generated and the price of SHIB rises with each new benchmark and milestone in the development of Shibarium. With SHIB selling at $0.000008154 as of this writing, only 22.14% of holders are currently profitable.
Even if it’s just momentarily, a break through the four million Shibarium milestone might cause another surge in the Shiba Inu ecosystem. This might push Shiba Inu closer to its August high of $0.00001072, pushing past the existing resistance of $0.0000082.
The rate of acceptance will only quicken as more SHIB holders become aware of Shibarium’s advantages, such as reduced costs and quicker transaction times. Simultaneously, a number of events indicate that SHIB prices will continue to rise.
The primary developer of SHIB, Shytoshi Kusama, has announced a naming service on Shibarium that transforms intricate Shibarium addresses into straightforward names that are understandable by humans. Although a high price point at $0.01 at this time seems incredibly improbable, updates such as these suggest to a beginning point for consistent price growth.
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- Sign up and register an account on ProEX
- Buy USDT via ProEX One-click Buy
- Trade SHIB/USDT at ProEX Spot
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