Shibarium, the Layer-2 project built on the Ethereum blockchain for the Shiba Inu (SHIB) ecosystem, has reached an impressive milestone by registering over 2 million wallets. This significant achievement underscores the growing popularity of the Shibarium network, which has seen a steady increase in user engagement during its 16-month operational period.
How Many Transactions Have Been Completed?
The Shibarium chain now boasts 2,003,042 wallet addresses, with over 620 million transactions recorded. In November alone, daily transactions surged to nearly 4 million, contributing to a total transaction count exceeding 500 million. The network’s efficiency continues with a consistent block generation rate, producing a new block approximately every five seconds.
What Role Does fhEVM Technology Play?
Kaal Dhairya from the Shiba Inu development team highlighted the introduction of the fhEVM Coprocessor technology by their partner, Zama. This innovation is designed to enhance user experiences by providing hidden and verifiable on-chain interactions, potentially broadening Shibarium’s appeal among users.
Recent trends indicate that Shiba Inu’s token performance is closely tied to these advancements. Key points include:
- SHIB’s price increased by 20.47% in the last month, reaching $0.00003232.
- A 3.75% rise in the token’s value occurred in the previous 24 hours.
- The burning of 3 billion SHIB tokens contributed to a decrease in supply, reinforcing price growth.
The milestone of 2 million wallets positions Shibarium and the Shiba Inu ecosystem for future expansion, with rising transaction volumes and improved infrastructure indicating a promising trajectory for long-term growth.
