Shiba Inu’s layer-2 solution, known as Shibarium, has reached one million blocks and processed over three million transactions since its introduction in August. Shibarium’s goal is to enhance Shiba Inu by making transactions more efficient. However, despite these achievements, Shiba Inu’s value declined by 4% on October 9 and 8% over the week.
The Newest Accomplishment
Shiba Inu (SHIB), the popular meme coin, is making waves once again with its recent achievement tied to Shibarium, its new layer-2 blockchain solution. According to ShibariumScan, Shibarium has hit an impressive milestone by reaching one million blocks, highlighting the growing demand for faster and more scalable features.
Not long ago, the L2 network celebrated another significant milestone as the total number of transactions on it crossed the coveted three million mark. Currently, this number has climbed to nearly 3.4 million, and the number of wallet addresses is steadily approaching 1.3 million.
Shibarium was officially launched at the end of August with the aim of enhancing Shiba Inu’s position in the world of meme coins. It focuses on improving transaction speed and reducing fees.
SHIB’s Price is Declining
Some analysts and experts, like the Twitter user known as “Shib Informer,” have pointed out that further progress with Shibarium might have a positive impact on Shiba Inu’s value.
SHIB Price, Source: CoinGecko
However, Shiba Inu has experienced a 4% drop in its price today (October 9), which aligns with the overall decline seen in the entire cryptocurrency market. Additionally, its value has fallen by more than 8% over the past week, according to CoinGecko.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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