Shibarium, a layer-2 blockchain, has recently achieved a significant milestone, surpassing six million blocks. This milestone comes ahead of the first anniversary of Shibarium’s launch, which took place during the SHIB team’s participation in the ETHToronto blockchain event in Canada. The meme coin team has demonstrated that SHIB is more than just a meme coin, with the launch of Shibarium marking a significant step forward for the project.
Following the launch of Shibarium, the platform experienced a surge in traffic that it was unable to handle. To address this issue, the SHIB team turned to friends for help, including the Polygon team. This collaboration led to the successful management of the increased traffic and set the stage for further development of the Shibarium platform.
In response to the overwhelming demand for Shibarium, the SHIB team, led by mysterious lead developer Shytoshi Kusama, raised $12 million for the creation of a layer-3 solution. This new solution will focus on streamlining transactions, reducing gas fees, and enhancing user data protection. With the continued growth of key metrics such as transaction count and connected wallets, Shibarium is poised for further expansion and development in the future.
The surge in block count for Shibarium has also had an impact on the price of the SHIB token. Following the increase in block numbers, the SHIB price recorded a 3.22% growth on Sunday evening, reaching $0.00001726. Although there has been a minor pullback since then, with the price dropping to $0.00001712, the overall trend for SHIB has been positive in recent days.
Over the course of a few days, the price of SHIB experienced a significant increase, with the second largest meme cryptocurrency rising by more than 9% between Thursday and Saturday. Despite a daily decline of 4.31% on Sunday, SHIB has shown signs of recovery and continues to attract investor interest. With the ongoing development of Shibarium and the introduction of new solutions to enhance user experience, the future looks bright for the SHIB project.
As Shibarium continues to grow and evolve, the SHIB team remains committed to expanding the platform’s capabilities and improving its performance. With the successful completion of six million blocks and the development of a layer-3 solution on the horizon, Shibarium is poised to become a leading player in the blockchain space. Investors and enthusiasts alike can look forward to further advancements and innovations from the SHIB team in the months and years to come.
