The Ethereum 
$1,726-based Layer-2 solution of the Shiba Inu (SHIB) ecosystem, Shibarium, has crossed an important threshold. According to Shibariumscan data, a total of 2 million wallet addresses have been recorded on the Shibarium chain. This achievement was accomplished over a 16-month period.
Shibarium’s Expanding User Network
The number of wallets on the Shibarium chain has reached 2,003,042. Over 620 million transactions have been completed on the network. Daily transaction averages approached 4 million in November, and the total transaction count surpassed 500 million. The network’s block production rate remained steady, producing a block every 5 seconds.
Total block production on Shibarium exceeded 8.2 million. Kaal Dhairya from the Shiba Inu developer team noted that their partner Zama introduced the fhEVM Coprocessor technology. Dhairya stated, “Zama’s #fhEVM Coprocessor paves the way for hidden and verifiable experiences on-chain.” These innovations are expected to increase the user base of Shibarium.
Impact of Shiba Inu’s Value and Ecosystem
Recent developments in Shibarium have also reflected positively on the value of the Shiba Inu token. SHIB has gained 20.47% in value over the past month and was trading at $0.00003232 at the time of writing. The token recorded a 3.75% increase in the last 24 hours.
The burning of 3 billion SHIB last week contributed to a reduction in supply within the ecosystem, aiding price increases. Shiba Inu maintains its position as the second most popular memecoin in the market, influenced by Elon Musk’s D.O.G.E narrative.
With the new milestones achieved by Shibarium, Shiba Inu is positioned to attract more users and stakeholders in the future. The increased transaction volume and strengthened infrastructure highlight Shiba Inu’s long-term growth potential.
