Shiba Inu’s Shibarium Reaches 3 Million Blocks
Shiba Inu’s layer-two scaling solution, Shibarium, has achieved a significant milestone by surpassing 3 million blocks. Each block is added every few seconds, according to data from Shibariumscan. The network currently has over 1.3 million addresses and has processed more than 330 million transactions. Shibarium was launched in August 2023 after much anticipation from the SHIB community.
No Impact on SHIB Price
Despite the achievement, the price of SHIB has not been affected significantly. It is currently trading at a slight discount compared to 24 hours ago, following the trend in the broader cryptocurrency market.
Positive Price Impact Potential
However, milestones like this can potentially have a positive impact on the price if certain conditions are met. Shiba Inu’s team recently introduced an automated burning mechanism, where more SHIB tokens are burned as more transactions occur on Shibarium. This deflationary mechanism can positively influence the price of the remaining tokens.
Hot Take: Shibarium Milestone and Future Implications
Shiba Inu’s Shibarium reaching 3 million blocks is a notable achievement for the network. With millions of blocks produced and a growing number of addresses and transactions, Shibarium is proving to be a scalable solution for Shiba Inu. While the milestone hasn’t immediately impacted SHIB’s price, it sets the foundation for potential price growth in the future. The automated burning mechanism implemented by Shiba Inu’s team also adds to the positive prospects for SHIB. As Shibarium continues to evolve and attract more users, it will be interesting to see how it shapes the overall Shiba Inu ecosystem.
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