Shibarium Hits 1 Million Wallets in a Month: SHIB Price Rally Ahead?

In the past week, the number of smart contracts on the Shibarium Layer-2 scaling platform increased dramatically, rising by an impressive 633%.

Shiba Inu’s Layer-2 scalability platform, Shibarium, has achieved impressive results just one month after its launch. Since reopening on August 24, it has reached over 1 million total wallet addresses.

The platform has been adding approximately 36,667 new wallet addresses every day. It’s also approaching a significant milestone with nearly 3 million total transactions, currently standing at 2,944,672.

Shibariumscan data shows a remarkable 633% increase in newly verified contracts in just one week, bringing the total verified contracts to a new high of 415.

Between September 14-17, Shibarium added only eight verified smart contracts, but on September 18, there was a notable increase with 19 verified contracts. In addition to verified smart contracts, the total contracts on Shibarium have also seen substantial growth, reaching an all-time high of 9,917.

The network maintains an average block time of 191.385 seconds, with a total of 2.676 million completed transactions.

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Shiba Inu Team Transfers Assets to Shibarium

In a recent post, Shiba Inu marketing strategist Lucie (@LucieSHIB) encouraged users to transfer their assets from centralized exchanges to the Layer-2 scalability platform Shibarium.

Lucie clarified that Shibarium’s role is not to conduct SHIB token burns but to facilitate the transition of SHIB holders from exchanges to Shibarium. She pointed to the example of FTX, a major cryptocurrency exchange that has gone bankrupt, to highlight the risks of relying on centralized exchanges for token management.

She emphasized that Shibarium performs token burns for every transaction, regardless of online discussions about burns. The only way to burn SHIB tokens is through Shibarium.

Additionally, the transaction fee on Shibarium is currently very low, but it may increase as traffic grows.

As of now, the Shiba Inu (SHIB) price is $0.000007449, and technical indicators suggest it could increase by up to 15% by the end of the month.

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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