Shiba
Shiba Inu’s Shibarium Achieves Historic Milestone, Priming SHIB for an Epic 100x Upswing
Amid the rise of the meme coin frenzy in the past few months, Shiba Inu (SHIB) has held the second most valuable in terms of market capitalization after Dogecoin. Shiba Inu price rallied nearly 80 percent during the January/February crypto relief rally. However, the Ethereum-based meme coin has dropped approximately 40 percent since February to trade around $0.0000086 on Wednesday.
Nevertheless, the Shiba Inu is heavily bolstered by strong fundamentals compared to most of the meme coins which are basically speculative trading assets. As of today, Shiba Inu takes pride in more than 1.3 million holders who have made about 10,290,244 on-chain transactions.
Shiba Inu Banks on Shibarium
The Shiba Inu community has eagerly been waiting for the Shibarium layer two mainnet launches. Moreover, the launch of the Shibarium layer two mainnet is expected to have significant on-chain value in the Shiba Inu ecosystem. For one, more decentralized applications (Dapps) are expected to launch through the Shibarium network for scalability purposes. More Dapps reciprocates to more users, who in turn help in token burns through transactions.
As a result, the demand for Shiba Inu is expected to rise exponentially, which reciprocates to the price rally. Notably, Shiba Inu gained huge recognition after rallying more than 10000x during the last major crypto bull market, merely fueled by speculation.
Having built a strong portfolio, the Shiba Inu community foresees more gains during the next major bull market fueled by speculation and real-world utility.
In the latest developments, Shiba Inu’s Shibarium public beta has clocked to a new milestone having processed over 11,611,641 total transactions from a total of 15,984,319 wallet addresses. According to on-chain data from puppyscan.Shib.io, the Shibarium public beta has closed about 967,770 blocks with each at an average time of 5 seconds.
