Shiba Inu (SHIB) Blasts Through a Masive On-Chain Milestone: Details

9 months ago 9

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TL;DR

Shiba Inu’s Shibarium network marks a significant milestone in transaction and user growth, highlighting its success in enhancing the ecosystem’s efficiency.
The meme coin’s price surge and trading volume dominance underscore investor interest and the potential for both significant profits and losses due to market volatility.

The Latest Achievement

Developments related to the popular meme coin Shiba Inu remain some of the most intriguing topics for cryptocurrency participants due to the vast number of SHIB holders, among other reasons.

The self-proclaimed Dogecoin killer made the headlines on March 7, thanks to the further advancement of its layer-2 blockchain solution, Shibarium. Data shows that total transactions on the network have surpassed the 400 million milestone. LUCIE, Shibarium’s Marketing Strategist, praised the achievement and congratulated the community for their contribution.

The number of wallet addresses on the network currently stands at over 1.3 million, while earlier this week, total blocks exceeded the 3.5 million mark.

Launched in August last year, Shibarium is designed to boost the Shiba Inu ecosystem by reducing transaction fees, enhancing speed, and improving efficiency.

Other SHIB Developments

The second-largest meme coin made waves as of late by experiencing a massive price increase. SHIB currently trades at $0.00003253 (per CoinGecko’s data), a 230% increase on a 14-day scale.

Shiba Inu’s trading volume for the past 24 hours has surged above $5 billion, thus outperforming Dogecoin (DOGE), Cardano (ADA), Ripple (XRP), and other altcoins. The burn rate has also witnessed a significant resurgence, exploding by 30,000% at one point last week.

SHIB’s price rally has offered investors the chance to make substantial profits. However, dealing with meme coins of that type could also lead to crucial losses due to the sector’s infamous volatility. If you are about to enter the ecosystem, please check what common mistakes you should avoid: