With the emergence of layer-2 protocols, Shibarium faced a botched initial launch, disappointing the Shiba Inu [SHIB] community. Nevertheless, it appears that the SHIB Army has moved forward from this setback, as the adoption of Shibarium experienced a significant upswing. The layer-2 platform has now pushed past 100,000 wallets on its network.
In a blog post published on Aug. 28, Shytoshi Kusama, the lead developer of Shiba Inu, formally declared that Shibarium’s functionality had been successfully reinstated. When Kusama indicated that Shibarium was in a ‘live’ state, the platform had a recorded count of 65,000 wallets engaged in 350,000 transactions.
These numbers have experienced significant growth, with an impressive increase of 55.8% in wallets and a 20.2% rise in transactions, as reported by Shiariumscan.io. Currently, the total number of wallet addresses stands at 101,401. It should be noted that an additional 35,000 wallets joined within a single day after Shibarium’s re-launch on Aug. 28.
A total of 439,210 transactions have taken place, each with an average block time of 5 seconds. Moreover, the current count of blocks stands at 327,872. It’s worth mentioning that Shibarium’s testing platform, known as Puppyscan, also gained significant attention. Despite being a testnet, Puppyscan managed to gather 100,000 addresses approximately three weeks after its debut. In contrast, despite facing challenges during its launch, Shibarium achieved the 100,000 milestone at a quicker pace.
Also Read: Shiba Inu: Shibarium Scanner, Puppyscan Reaches 100k Wallets
Shiba Inu price and burn rate record recovery
Positive developments for SHIB holders continue to emerge. While the week of Shibarium’s launch faced significant challenges with minimal token-burning activity, the past week showcased a more favorable trend for the asset. During this period, the network experienced the removal of a total of 2,139,000,405 SHIB tokens from circulation through 122 transactions. Alongside this, the burn rate increased by 9.53%. Although this rise might appear modest, it is seen as the potential beginning of a larger trend.
Following Shytoshi’s recent blog post, the value of the meme coin has also started to rebound. This upward movement can also be linked to a general improvement in overall market conditions. At press time, SHIB was being traded at $0.000008164, marking a daily increase of 2.91%.
Also Read: Shiba Inu Forecasted to Rise 925%: Here’s When
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