The Latest Achievement: Shibarium Reaches One Million Blocks
Shiba Inu’s layer-2 blockchain solution, Shibarium, has reached a significant milestone by hitting one million blocks. This achievement highlights the increasing demand for scalable features in the Shiba Inu ecosystem. Just a few weeks ago, the L2 network surpassed three million total transactions, currently standing at almost 3.4 million, with wallet addresses nearing 1.3 million. Shibarium was launched in August with the aim of improving speed and reducing transaction fees to establish Shiba Inu as a leading memecoin.
SHIB’s Price Decline
Despite the advancements of Shibarium, Shiba Inu’s value has fallen by 4% today (October 9) due to the overall decline in the cryptocurrency market. Over the past week, it has experienced a decrease of over 8%. While some analysts believe that further progress in Shibarium could have a positive impact on Shiba Inu’s valuation, current market conditions have influenced its price negatively.
Hot Take: Shiba Inu’s Growth Amid Market Volatility
Shiba Inu continues to make strides in its development, with the recent milestone of reaching one million blocks on its layer-2 solution, Shibarium. This achievement demonstrates the growing demand for scalability in the memecoin ecosystem. Despite facing a decline in value amidst market volatility, Shiba Inu remains an intriguing project to watch as it aims to improve transaction efficiency and establish itself as a leader in the industry.
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