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No, the Shiba Inu is not on its way to the moon yet. The road remains strewn with disappointment for SHIB fans, but Shytoshi Kusama’s team has not had its last word. As always, there is a trump card up his sleeve: Shibarium. Aiming to revolutionize the Shiba Inu ecosystem, this Tier 2 continues to progress and recently hit an impressive new milestone of over 430 million transactions processed. Decryption.
Shibarium continues to surprise SHIB traders
Despite investor defection, Shibarium, the Shiba Inu scaling solution launched last year, has seen rapid growth with millions of transactions per day and an ever-growing user base. However, after a slump over the past two quarters, the network has picked up steam in recent days. Only on October 22, 23 and 24 almost 10 million transactions were recorded.
This renewed activity made it possible to reach a new milestone with the total number of transactions exceeding 430 million.
To summarize this dynamic, the numbers speak for themselves:
- More than 430 million transactions in total;
- Almost 2 million active wallets;
- Over 7.5 million blocks processed.
These statistics prove itcontinued enthusiasm for this L2 scaling solutiondespite the turbulence in the altcoin market. The Shibarium takeover comes with constant improvements, with updates aimed at making the user experience even smoother.
Shiba Inu: traders waiting for a revival for memecoin
If Shibarium has reached a new milestone, SHIB investors are not celebrating yet. It remains a cryptome down 6% over the past weekdespite positive developments in infrastructure.
Moreover, general market sentiment remains pessimistic: according to Santimento SHIB was among the 10 cryptocurrencies most affected by bearish narratives on October 23a day when the overall market underwent a significant correction.
However, some analysts see this surrounding pessimism as an opportunity: “ Markets often go against the majority’s expectations, which could set the stage for an unexpected rally for those who choose to buck the trend. »
Traders are therefore hopeful a rebound in the price of the Shiba Inu, stimulated by the advancements of Shibarium and efforts to strengthen the ecosystem.
To conclude, this is not the first time a Shiba Inu layer 2 has excelled. By the end of September, Shibarium had already exploded onto the shelves with over 7 million blocks processed and a rapidly increasing burn rate.
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The blockchain and crypto revolution is in full swing! And on the day the effects are felt by the most vulnerable economy in this world, I will say against all hope that I had something to do with it
DISCLAIMER OF LIABILITY
The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.
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