Shibarium, Shiba Inu’s Layer-2 scaling solution, has achieved the 2 million wallet milestone approximately 16 months after its launch.
Shibarium, the Ethereum-based Layer-2 (L2) scaling solution of the Shiba Inu (SHIB) ecosystem, has achieved a new significant breakthrough. The L2 network has 2 million wallet addresses registered onchain, as per data insight from the Shibariumscan.
The Shibarium Hype Is Worth It
The network currently hosts 2,003,042 wallet addresses, as indicated by the data. The protocol took approximately 16 months to accomplish this feat from its launch.
Additionally, the Shiba Inu explorer described additional remarkable protocol milestones. In total, it has processed 620,449,455 transactions and has maintained an average block time of 5 seconds. In November, Shibarium achieved the 500 million transaction milestone by processing an average of 4 million daily transactions.
In the interim, it has recorded a total block production valued at over $8.2 million.
Shibarium has contributed to expanding the Shiba Inu ecosystem’s influence despite its origins as a memecoin. This accomplishment has been accomplished through the assistance of its partners. One of its ecosystem partners, Zama, has released fhEVM Coprecessor, as top developer Kaal Dhairya noted.
It has been noted that this innovation will be released on Shibarium shortly, which will complete the series of related product launches that have contributed to the company’s increased user base.
The Shiba Inu Price is Benefiting from the Hype
Shiba Inu is among the most significant beneficiaries of the Shibarium ecosystem’s expansion.
The token was trading at $0.00003232 at this writing, representing a 3.75% increase in the past 24 hours. Within the last hour, it has increased from a low of $0.00003036 to a high of $0.00003316. Compared to the previous month, SHIB has experienced a 20.47% increase.
Shiba Inu’s expansion directly results from the over 3 billion SHIB burn recorded in the past week. Furthermore, the digital currency has sustained its status as the second-largest memecoin in the market, gaining momentum from the D.O.G.E narrative that Elon Musk is igniting.
Shibarium has achieved new milestones, which have provided SHIB with a more promising foundation to maintain its current bull market.
