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Shiba Inu (SHIB) Smashes New Adoption Milestone

Wed, 08/23/2023 - 12:47
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Yuri Molchan
Popular meme cryptocurrency continues to set new records while team prepares for second launch of Shibarium
Shiba Inu (SHIB) Smashes New Adoption Milestone
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Leading canine cryptocurrency Shiba Inu continues to acquire new holders, expanding the so-called SHIB army. Over the past 24 hours, the total holder count of SHIB has seen a significant increase.

SHIB holder count rises, Shibarium running in private mode

According to the CryptEye analytics website, over the past 24 hours, the total count of SHIB holders has seen an increase of nearly 1,000. Currently, this metric shows 2,418,287.

Aside from that, recently the number of new SHIB wallets has increased by 10 million, according to a recent report.

An inflow of new holders has been seen recently as the Layer 2 blockchain Shibarium gears up for a new start. After the recent launch, the team of SHIB was unable to handle the enormous traffic they faced, and operations were paralyzed.

However, the SHIB team, along with the team of Unification Fund and Alchemy, have been working hard to restore the work of Shibarium and increase its throughput. The leader of SHIB developers Shytoshi Kusama has been publishing daily updates on how the restoration of Shibarium is proceeding. So far, he wrote that the Layer 2 solution has been launched in private mode for a final test and will soon be available to the public.

Shibarium testnet reaches new milestone

While Shibarium mainnet prepares for the second launch, its testnet Puppynet continues to reach new peaks. Puppyscan now shows that the number of transactions has surpassed the 33 million level, smashing a new utility milestone.

The daily amount of transfers on Puppynet has been stable, approximately 175,000-173,000 per day, since Aug. 16, when the testnet resumed work after being shut down for a few days before the launch of Shibarium, which proved unsuccessful.

Today, the SHIB price demonstrated a rise by more than 6% after losing 30% since Aug. 12. At the time of this writing, the meme coin is changing hands at $0.00000821.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at