As a seasoned analyst who’s navigated through the crypto market’s ebb and flow for more than a decade, I must admit, the Shibarium hype is not only justifiable but also quite intriguing. The rapid growth of the L2 network, with over 2 million wallet addresses in just 16 months, is a testament to the power of innovation and community engagement in the crypto space.
The Shibarium network, which is part of the Shiba Inu (SHIB) universe and operates as an Ethereum-based scaling solution, has reached a significant milestone by registering 2 million unique wallet addresses on its blockchain. This data comes from Shibariumscan, a platform that provides insights into the network’s activity.
The Shibarium Hype is Worth It
According to the current data, there are about 2 million wallet addresses currently active on the network. It took the system around 16 months after its launch to reach this milestone.
Additionally, the Shiba Inu explorer highlighted other noteworthy achievements for the protocols. To summarize, it has handled a total of approximately 620 million transactions, with an average block time of just 5 seconds. Notably, Shibarium surpassed the 500 million transaction mark in November, processing around 4 million transactions per day on average.
Meanwhile, it has registered a total block production worth more than 8.2 million.
Although initially known as a memecoin, Shibarium has significantly increased its impact within the Shiba Inu community. This growth can be attributed to the support from its collaborators. Notably, top developer Kaal Dhairya highlighted that one of its ecosystem partners, Zama, recently launched the fhEVM Coprocessor.
I’m thrilled beyond words about our collaborators at @zama_fhe for unveiling the #fhEVM coprocessor, opening up a path for secure and verifiable on-chain interactions. My team and I are closely working hand in hand with the brilliant minds at @zama_fhe to translate this revolutionary concept into reality as soon as possible.
— Kaal (@kaaldhairya) December 6, 2024
In my role as a researcher, I’m eagerly anticipating the imminent launch of this groundbreaking innovation on Shibarium. This launch marks the culmination of previous product rollouts that have been instrumental in expanding our user base significantly so far.
Shiba Inu Price Benefitting from the Hype
As a researcher, I’ve noticed that within the burgeoning Shibarium environment, Shiba Inu consistently emerges as one of its most significant gainers.
Currently, the token is being traded at approximately $0.00003232, representing a 3.75% increase over the past 24 hours. Within the last hour alone, its value has fluctuated between a low of $0.00003036 and a high of $0.00003316. Compared to its performance over the past month, Shiba Inu (SHIB) has experienced an impressive surge of 20.47%.
As a researcher, I’ve observed an interesting trend in the crypto world: Over the past week, more than 3 billion Shiba Inu (SHIB) tokens have been burned, contributing to its growth. Moreover, SHIB has managed to sustain its buzz, positioning itself as the second-largest memecoin on the market. This momentum seems to be fueled by the D.O.G.E narrative that Elon Musk is helping to cultivate.
Due to Shibarium’s recent achievements, Shiba Inu (SHIB) now has a stronger foundation to support its continuing bullish trend.
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2024-12-08 02:04