TL;DR
- Shiba Inu’s layer-2 solution, has seen a sharp increase in both active accounts and daily transactions, signaling network growth.
Developments in Shibarium may fuel a potential rally for SHIB, which is already recovering alongside other meme coins like MEW and DOGE.
Shibarium Keeps Progressing
The news is abuzz once more about Shiba Inu’s layer-2 blockchain solution, Shibarium, following a notable resurgence.
Latest data shows that active accounts on the network have surpassed 25,000, an 80% increase compared to the number observed the day before and a whopping 3,500% jump since the start of April. Daily transactions have also been on the rise, spiking above 400,000.
Last year in August, Shibarium was officially introduced with the goal of advancing the growth of Shiba Inu. This is achieved through increased scalability, decreased transaction fees, and swifter processing times.
The cryptocurrency network has broken through several significant milestones within the last few months. According to CryptoPotato’s earlier report, the total number of blocks on the network surpassed 4 million. Additionally, wallet addresses are close to reaching 1.8 million, and the current count for transactions stands around 415 million. For more information about this new feature, feel free to watch our explanatory video below.
SHIB Price to Take Off?
Many experts think that Shibarium’s continued progress may lead to a surge in price for the second largest meme coin, SHIB. Currently, SHIB has regained some of its weekend losses and is currently experiencing gains on a daily basis.
It is not the only meme coin to rally substantially today (April 15). The Solana-based Cat in a Dogs World (MEW) is among the market’s best performers, exploding by almost 100%.
These cryptocurrencies, including DogeCoin (DOGE), Doge-Whistle (WIF), PEPE, and Floki Inu (FLOKI), have also experienced an uptick, though to a lesser extent than before.
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2024-04-15 16:31