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Shibarium Shows Sign Of Strength, Exceeds 4 Million+ Transactions

Maria Bartiromo

ByMaria Bartiromo

Nov 23, 2023

Shibarium, the blockchain solution linked to the cryptocurrency Shiba Inu (SHIB), has accomplished an astounding 4 million transactions on its network, marking a noteworthy achievement for the Shiba Inu ecosystem. This achievement highlights Shibarium’s quick adoption and growth since its launch and emphasizes its growing significance within the larger cryptocurrency community.

A crucial indicator of Shibarium’s growth is the total number of cryptocurrency wallets on the network, which has now risen to 1,270,675. Since the blockchain’s launch, this figure shows an astounding daily growth rate of about 13,099 new addresses.

The spike in wallet creation indicates increased interest in the Shibarium ecosystem and a growing user base. The strong transaction volume on Shibarium is consistent with the general trend of more people interacting with blockchain networks and decentralized finance (DeFi) platforms.

Shiba Inu Introduces “Donate” Features On Shibarium, Encourages Donors

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The company has launched the “Donate” feature on Shibarium, a new example of the Shiba Inu community’s dedication to innovation. With this addition, the blockchain solution’s functionality is improved, and users can now directly support projects, initiatives, or causes via the Shibarium network.

Describing the recent development, the company, in a statement, said that adding the “Donate” feature broadens the scope of applications for Shibarium and embodies the spirit of cooperation and giving that originally characterizes the community.

Facilitating with the company, market watcher, Elmaz Sabovic said that Shibarium is becoming more prominent in the decentralized ecosystem as blockchain networks continue to be a major factor in changing the financial landscape.

The company (Shiba Inu) also published on its official blog that they will partner with Manny Pacquiao, an ex-international boxer. This development has further heightened Shiba Inu’s continuously expanding dominance. The team of SHIB developers came out today to formally introduce the new Shibarium layer-2 blockchain features.

The Donate function allows users to donate financially to non-profit validators who are relevant in maintaining the L2 network efficiency. While announcing the feature, the company said introducing it aligns with its continuous support to encourage inclusion. The statement said that Shibarium users are now given the opportunity to support the maintenance and growth of the validators, thereby improving the general resilience and integrity of the Shiba Inu Shibarium network.

Shiba Inu Assures Users Of A Renewed Efficiency

Recall the Shibarium network was introduced in the scene on August 28th after a challenging launch that also received some criticism from across the Shiba Inu community. The management of Shiba Inu has also come out to assure users of a new dispensation of efficiency and accountability in the Shibarium layer 2 solution.

Recalling Shiba Inu’s progressive usage data, the project had 9,740 transactions on November 6th. It also recorded another increased transaction of over 202,000 within 24 hours on September 11th. However, the most recent data from Shibariumscanexplorer said that the Shibarium user base has reached its all-time high and is currently experiencing a continuous expansion in its user base.

Meanwhile, BONE, which was once termed a the gateway to Shibarium by Kusama Shytoshi, has gradually started changing it’s prices, recording a declined value of -3.17%  to sell at $0.64, Shiba Inu is currently trading at $0.00000804, with a market capitalization of $4,736,136,697, after trading at $204,184,486.48 in trading volume, -5.92% decline in the last 24 hours. The circulating supply fir SHIB is still at  590 Trillion SHIB as at press time.

Maria Bartiromo

Maria Bartiromo

Maria Bartiromo is a renowned news writer and journalist, celebrated for her insightful reporting and authoritative voice. With a career spanning years, she has established herself as a trusted source of accurate and comprehensive news analysis, keeping readers informed on vital global developments.

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