21 April, 2024

Shibarium Experiences Remarkable Surge Following Relaunch

29 Aug, 2023

21 Nov, 2023

  • Shibarium witnessed a rise in wallet count from 65,000 to 101,277 in just 24 hours.
  • Shytoshi Kusama and Sandeep Nailwal ensured swift resolution and reinforced user trust.
  • Shiba Inu token continues its positive market performance, trading at $0.000008.

A recent thread by Keyur Rohit, a crypto influencer on the X platform, unveiled the astonishing growth of Shibarium, the layer-2 blockchain intricately tied to the Shiba Inu (SHIB) token. Having been relaunched on August 28th, this specific blockchain platform witnessed its wallet count skyrocketing from 65,000 to 101,277 within a mere 24-hour window.

Shibarium has carved out a niche for itself in the world of cryptocurrency. Explicitly tailored for the SHIB token, it is now being leveraged for gaming and metaverse applications. A distinguishing feature of this blockchain is its utilization of SHIB for gas fees, illustrating a promising turn in the meme coin’s functionality.

The statistics emerging post-relaunch are both compelling and illuminating. In just one day, Shibarium processed 420,897 transactions. These occurred over 344,614 blocks, with an enviable average block time of just 5 seconds. These numbers underscore the platform’s efficiency and hint at its potential to reshape the crypto space.

The platform encountered an outage shortly after its introduction, resulting from the unanticipated surge in users and transactions. According to CryptoTale, demonstrating the collaborative ethos of the crypto world, Shytoshi Kusama, co-founder of SHIB, sought the expertise of Sandeep Nailwal from Polygon Labs. This timely collaboration rectified the issue promptly. Kusama later reassured the community about the safety of their assets and expressed gratitude to Nailwal for his indispensable assistance.

Coinciding with Shibarium’s triumphant relaunch, the Shiba Inu token seems to be on an upward trajectory. Its current price is $0.000008, with a trading volume of $121,339,228 in the preceding 24 hours. This represents a 2.26% increase. SHIB currently occupies the 16th position on CoinMarketCap, boasting a market cap close to $4.77 billion.

In light of these developments, it’s evident that Shibarium and SHIB are collectively charting a promising path forward. The recent milestones are a testament to their potential and a harbinger of the exciting possibilities within the broader crypto domain.


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