Main navigation

Shiba Inu's Shibarium Records Groundbreaking Transaction Milestone

Mon, 09/11/2023 - 19:58
article image
Alex Dovbnya
Shibarium, the Ethereum layer-2 network developed by Shiba Inu, has crossed a significant transactional threshold, surpassing 2 million transactions and supporting over 1.1 million wallet addresses
Shiba Inu's Shibarium Records Groundbreaking Transaction Milestone
Cover image via
Read U.TODAY on
Google News

Shibarium, Shiba Inu's Ethereum layer-2 network, has achieved a notable transaction milestone, according to the latest data from its explorer. 

It seems to be gathering steam, reaching over 2 million total transactions and supporting more than 1.1 million wallet addresses.

Shibarium's growing pains  

With an average block time of 5.0 seconds and a gas tracker at 3.02 Gwei, Shibarium has logged a total of 580,102 blocks as of Sept. 11. 

The network saw daily transactions average at approximately 168,150, demonstrating the platform's increasing utility and adoption rate. 

Ripple Ally Flare (FLR) to Undergo Hardfork to Usher in New Upgrades

Developed as a fork of Polygon, Shibarium is part of Shiba Inu's broader strategy to expand into the metaverse and gaming applications, and it offers cheap settlements for DeFi applications built on top of it. 

After a slew of initial hiccups—such as software bugs that left millions of dollars in limbo—the platform seems to have stabilized after putting additional fail-safes in place. 

SHIB's underperformance 

In spite of Shibarium's early success, the price of the Shiba Inu token (SHIB) remains subdued. According to the latest CoinGecko data, SHIB is priced at $0.00000702, down 4% on the day and down 8.1% over the week.

The token is performing similarly to other altcoins like Dogecoin and Cardano, which have also posted negative numbers in the past week. 

However, Shibarium's new milestones could be a positive indicator of the project's long-term viability, even if they haven't yet had a significant impact on the token's price.

Shibarium is positioning Siba Inu as a key player in the rapidly evolving cryptocurrency landscape, allowing it to go beyond its meme coin status.   

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at