Shiba Inu Scaling Solution Shibarium Hits 3 Million Blocks

Shibarium, the innovative layer 2 platform for the Shiba Inu cryptocurrency, has achieved a new record by producing over three million blocks.

The platform aims to improve the speed and scalability of transactions in the Shiba Inu network, which now has more than 334 million transactions and 1.35 million wallet addresses.

Shibarium boasts a fast and cheap transaction system, with an average block time of only 5 seconds and negligible gas fees. The platform also handles a high volume of daily transactions, reaching 2.46 million on average.

Shibarium Stats & Shiba Inu Performance

Shibarium has processed 332.613 million transactions in total, with a slightly higher average block time of 49.581 seconds. The platform also hosts 15,004 contracts, indicating a strong development activity on Shibarium.

The platform supports 8,979 tokens and has 63,225 accounts. These numbers show the platform’s ability to accommodate a variety of applications and tokens.

Meanwhile, the price of SHIB has increased by 1.77% in the last 24 hours, reaching $0.000008903, according to CoinGecko data. This has helped SHIB maintain its market cap at $5.25 billion, ranking it 18th among cryptocurrencies.

Shiba Inu also has a significant market share among meme coins. Its main rival, Dogecoin (DOGE), has a market cap of over $11 billion, but Shiba Inu surpasses newer competitors like Bonk (BONK) and Pepe (PEPE), which have market caps of $634 million and $381 million, respectively.

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The author’s views are for reference only and shall not constitute any investment advice. Please ensure you fully understand and assess the products and associated risks before purchasing.

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