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- Shiba Inu’s layer 2 solution reaches one million blocks and boasts over three million transactions.
- Shibarium, which was introduced in August, aims to upgrade the Shiba Inu by improving transaction efficiency.
- Despite Shibarium’s progress, the value of the Shiba Inu fell 4% on October 9 and 8% during the week.
The popular Shiba Inu (SHIB) meme coin and the developments surrounding it continue to make headlines. Its latest achievement is related to the recently launched layer 2 blockchain solution Shibarium.
According to ShibariumScan, it is receipt The milestone is 1 million blocks, highlighting the growing demand for scalable features.
A few weeks ago, the L2 network Criticize Through another peak after the total number of transactions exceeded the desired level of three million. Currently, this number is around 3.4 million, while wallet addresses are trending towards 1.3 million.
Shibarium officially saw the light of day at the end of August. It aims to elevate the Shiba Inu as a leader in the memecoin world by improving speed and lowering transaction fees. Those who are curious to know more about its launch and purposes can watch the dedicated video below:
SHIB price is declining
Some analysts and experts, such as user
However, the asset fell by 4% today (October 9), in line with the general decline in the entire cryptocurrency market. It is also down more than 8% on a weekly basis (per CoinGecko).
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