Shibarium, Shiba Inu’s Layer-2 Scaling, Hits Milestone Amid $SHIB Surge

Shibarium, Shiba Inu’s layer-2 scaling solution, has processed over 400 million transactions since its inception, surpassing an important milestone in an amazing accomplishment. This accomplishment coincides with the dramatic surge in the value of SHIB, the meme-inspired cryptocurrency that has rekindled interest and acceptance within the Shiba Inu ecosystem.

According to data from Shibariumscan, the network has processed a staggering 400.7 million transactions across over 3.54 million blocks. Furthermore, the layer-2 solution has facilitated the creation of over 1.36 million wallet addresses, a testament to its growing popularity and utility.

In recent weeks, the number of daily transactions processed on Shibarium has fluctuated between 1.3 million and over 4 million, showcasing the network’s ability to handle substantial transaction volumes. This scalability factor is crucial in accommodating the increasing demand for faster and more cost-effective transactions within the Shiba Inu ecosystem.

Notably, surpassing 400 million transactions coincides with a significant price surge for the SHIB token. Over the last week, the value of SHIB has skyrocketed by over 160%. In the past 30 days, it has experienced a staggering 245% increase, riding the wave of a broader cryptocurrency market rally.

Whale Shift: PEPE To Shibarium Surge

The meme-inspired cryptocurrency’s impressive performance has caught the attention of a cryptocurrency whale who recently shifted their portfolio from another popular meme-inspired cryptocurrency, PEPE. This investor booked a substantial $3.49 million gain from PEPE and diversified their holdings by depositing nearly 2 trillion PEPE tokens, worth over $6 million, onto the leading cryptocurrency exchange Binance.

Among the notable allocations made by this whale was a significant investment of 75.9 billion Shiba Inu tokens, valued at approximately $893,000. This strategic move suggests that the whale believes SHIB may offer more significant upside potential than PEPE, further fueling the meme-inspired cryptocurrency’s momentum.

Furthermore, as Shibarium continues to gain traction, processing an ever-increasing number of transactions, and the SHIB token price surges, the Shiba Inu ecosystem is experiencing a renaissance. With its Layer-2 scaling solution providing faster and more cost-effective transactions and the growing interest from investors, including whales, the Shiba Inu ecosystem is positioning itself as a prominent player in the ever-evolving cryptocurrency landscape.

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Furthermore, the author’s views are for reference only and shall not constitute investment advice. Before purchasing, please ensure you fully understand and assess the products and associated risks.

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