Shiba Inu, the memecoin that has been making headlines, is stirring the crypto waters again.
Within two months of its inception, Shiba Inu’s layer-2 solution, Shibarium, has approximately three million completed transactions and more than 1.25 million wallet addresses.
A Boom in Transactions
Less than two months after its formal launch, Shibarium, Shiba Inu’s layer-2 scaling solution, is still breaking records. Several achievements have been made, of which the latest update stands out.
Shibariumscan indicated that the overall number of finished transactions lately increased to almost three million. The success rate has also fluctuated over the past month between 0.97 and 0.99.
Even more astounding is the overall number of transactions, which is currently close to 3.3 million and includes completed, dropped, replaced, and unsuccessful transactions. Additionally, a steady increase in wallet addresses has been seen. According to the most recent figures, there are more than 1.25 million.
The Purpose of Shibarium: Will This Impact Shiba Inu?
In late August, the L2 blockchain solution officially launched with the aim of actively assisting Shiba Inu (SHIB) in its bid to secure the top spot among memecoins. It specifically seeks to decrease transaction costs and speed up.
According to several analysts and specialists, Shibarium’s future development could have a favorable impact on SHIB’s pricing. An illustration of this is provided by the X (Twitter) user “Shib Informer,” who indicated that increased use of the layer-2 scaling solution is one of the crucial elements that could increase the memecoin’s value in the future.
At the time of writing, data shows that SHIB is trading at $0.000007312 with a gain of 2.32% in volume over the last 24 hours.