Shibarium Sees Nearly 2 Million Transactions on Layer-2 Blockchain Solution
A recent report from Shibarium Explorer reveals that the total number of transactions on Shibarium, a layer-2 blockchain solution built on Ethereum, has reached almost two million. Since its launch two weeks ago, Shibarium has aimed to increase transaction speed, lower costs, and position Shiba Inu as a leading blockchain project. Currently, the network sees approximately 1,951,468 daily transactions and has mined over 500,000 blocks. The number of wallet addresses has also surpassed 1.1 million and continues to rise. Despite Shibarium’s positive developments, the price of Shiba Inu (SHIB) has been on a downtrend. SHIB holders, along with holders of other memecoins like FLOKI, ELON, and PEPE, are mostly underwater with only 11% currently holding unrealized profits.
Hot Take: Shibarium Gains Traction While SHIB Holders Struggle
Shibarium, the layer-2 blockchain solution for Shiba Inu, has achieved significant milestones in terms of transaction volume and block mining. The project, which aims to enhance transaction speed and reduce fees, has seen almost two million transactions since its launch. However, the price of Shiba Inu (SHIB) continues to decline, affecting the majority of SHIB holders who are currently at a loss. This downward trend is not unique to SHIB, as other memecoins like FLOKI, ELON, and PEPE are also experiencing similar struggles. While Shibarium’s progress is commendable, the challenges faced by SHIB holders highlight the volatility and risks associated with investing in meme-based cryptocurrencies.
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