Shiba Inu Layer-2 Scaling Solution Shibarium Surpasses Major Milestone as $SHIB Price Soars

by Marco Stracke

Shiba Inu’s layer-2 scaling solution Shibarium, meant to toughen the Shiba Inu ecosystem by providing sooner transactions at a decrease payment, among other enhancements, has recently surpassed a indispensable milestone, having processed over 400 million transactions since delivery.

In step with recordsdata from Shibariumscan, the layer-2 scaling solution has processed a complete of 400.7 million transactions across over 3.54 million blocks, with over 1.36 million wallet addresses having been created on the community. Shibarium hit the 300 million transaction designate serve in January of this year.

The fashion of day-to-day transactions being processed on Shibarium has been fluctuating between 1.3 million and over 4 million over the closing few weeks.

Congratulation to every person on #Shibarium !
400 M transactions!

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼‍♀️ (@LucieSHIB) March 7, 2024

The milestone used to be surpassed at a time whereby the worth of the meme-inspired cryptocurrency has been surging, as it moved up over 160% over the closing week and greater than 245% within the closing 30-day length, amid a grand wider cryptocurrency market rally.

Notably, SHIB recently noticed a cryptocurrency whale shift their portfolio from a favored meme-inspired cryptocurrency that went up over 900% at some level of the final year to bet on it.

On-chain recordsdata diagnosis company Lookonchain identified an Ethereum take care of that profited handsomely from the $PEPE memecoin, a inexperienced frog-themed token that moved up exponentially at some level of the final year.

The investor reportedly booked a $3.49 million receive and various their holdings into other cryptocurrencies after depositing almost 2 trillion PEPE, worth over $6 million, onto main cryptocurrency switch Binance.

One distinguished allocation used to be into 75.9 billion Shiba Inu tokens, valued at approximately $893,000. This strategic transfer suggests the whale believes SHIB could perhaps perhaps offer more indispensable upside capacity when put next with PEPE.

Featured image by process of Unsplash.

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