2023-09-03 10:02:56
The number of wallets carrying out transactions with Shiba Inu’s second layer network, Shibarium, recently crossed the 1 million mark on September 2nd. This happened just a week following the bridge started working properly on the mainnet. Before it was restarted on August 28, 2023, Shibarium’s bridge faced some serious issues, resulting in temporarily unavailable coins and slow transactions. Of course, one of the leading Shiba Inu developers already reassured everyone that the resources were safe. Now here is the good news, as the bridge has now been used by more than 1 million departments. The environment of Shiba Inu is very positive, but the price does not reflect this. The number of users made more than 783 thousand transactions, which is an average of 73,640 transactions per day since the restart. Currently, the total number of blocks on the blockchain is well over 420,000. However, this does not mean that the value of the pledged amount has also increased. Because the total committed amount is just under $1.1 million. And $1 million of this number is provided by two decentralized exchanges, DogSwap and MARSWAP, which operate on the network. Meanwhile, the surge in wallet addresses and transactions shows a positive trend within the Shiba Inu community. Many people see that slowly but surely the Shiba Inu memecoin will become something that can have practical utility. And if the number of transactions increases, more and more Shiba Inu tokens are enough. According to Shibburn, more than 71 million Shiba Inus were burned in a single day on the second of September. More than 6 billion tokens were burned in August alone. Of course, this doesn’t mean much to hodlers (yet). After a minor breakout in August, the price of SHIB has fallen quite a bit, now hovering around $0.0000078 at the time of writing. This is a 91% decrease from the peak of 0.000088 at the end of 2021. And this bear market for SHIB has been going on for months.
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#SHIBs #price #suffering #ecosystem #alive
