Shiba

Million

Shiba Inu

Shibarium has had quite the <a href="https://www.newsbtc.com/shiba-inu/shibarium-rocket-shiba-inu/#:~:text=This%20Shibarium%20Milestone%20Could%20Rocket%20Shiba%20Inu%20To%20August%20Highs,-by%20Scott%20Matherson&amp;text=Shiba%20Inu's%20latest%20price%20action,in%20a%20seven%2Dday%20timeframe." target="_blank" rel="noopener noreferrer nofollow">adoption and growth since its launch</a>. The layer-2 solution has grown in various metrics over the months, demonstrating strong momentum. Shibarium is closely approaching the 4 million milestone in total transactions. At the same time, whales are increasing their activities, as large transactions spiked in the past week.&nbsp;
<h2 id="b-shibarium-nears-4-million-transactions-b">Shibarium Nears 4 Million Transactions</h2>
The momentum behind Shiba Inu’s own scaling solution is growing at an incredible pace. Shibarium has taken off and become the preferred method for SHIB whales and retail investors alike to buy and sell SHIB tokens.
According to NOWNodes, Shibarium was one of the best-performing networks this month, as the blockchain node provider reached 66 million processed requests to Shibarium. In less than three months after its launch, the network is now approaching four million total transactions and shows no signs of slowing down.
<blockquote class="twitter-tweet">
 <a href="https://twitter.com/ShibariumNet?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@ShibariumNet</a> was one of the best performing networks in our ecosystem this month <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f947.png" alt="🥇" class="wp-smiley" style="height: 1em; max-height: 1em;">
 Our team prepared a Milestone report dedicated to the success, most recent updates and highlights of the network
 Get into our new <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f9f5.png" alt="🧵" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/t4e5ljoXNi" target="_blank" rel="noopener noreferrer nofollow">https://t.co/t4e5ljoXNi</a> <a href="https://t.co/WHyZZCQAE0" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/WHyZZCQAE0</a>
 — NOWNodes <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/26d3.png" alt="⛓" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@NOWNodes) <a href="https://twitter.com/NOWNodes/status/1720436613455479236?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">November 3, 2023</a>
</blockquote>
Data from <a href="https://www.shibariumscan.io/" target="_blank" rel="noopener noreferrer nofollow">Shibariumscan </a>puts the total transaction count at the time of writing at 3.81 million, with a total of 1.51 million blocks mined. The number of daily transactions is also at 13,700 in the past 24 hours, and the number of wallet addresses has recently surpassed 1.26 million.
At the same time, Shiba Inu whales <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-whales-moving-shib/" target="_blank" rel="noopener noreferrer nofollow">have upped their activity</a>. <a href="https://app.intotheblock.com/coin/SHIB/deep-dive?group=financials&amp;chart=largeTransactions" target="_blank" rel="noopener noreferrer nofollow">Data from IntoTheBlock</a> has shown the Shiba Inu ecosystem saw a 45% jump in large transaction volume, which totaled $46.12 million as October came to a close.
<h2 id="b-road-to-0-1-for-shiba-inu-b">Road To $0.1 For Shiba Inu?</h2>
Past news <a href="https://bitcoinist.com/shiba-inu-lead-dev-clarifies-how-burns-work/" target="_blank" rel="noopener noreferrer nofollow">around Shibarium</a> has always positively affected the price of SHIB. Each new milestone and benchmark reached in developing Shibarium generates excitement and drives up the price of SHIB. At the time of writing, SHIB is trading at $0.000008154 and only 22.14% of holders are currently making a profit.
A cross over the four million milestone in Shibarium could lead to another hype in the Shiba Inu ecosystem, even if only temporarily. This could propel Shiba Inu past the current resistance of $0.0000082 and towards its August high of $0.00001072.
As more SHIB holders discover the benefits of Shibarium, like lower fees and faster transaction speeds, the rate of adoption will only accelerate. At the same time, various developments have pointed towards sustained price growth for SHIB.&nbsp;
Shytoshi Kusama, SHIB’s lead developer, <a href="https://bitcoinist.com/shiba-inu-lead-dev-heralds-new-era-shibarium/" target="_blank" rel="noopener noreferrer nofollow">recently unveiled a naming</a> service on Shibarium to convert complex Shibarium addresses into simple human-readable names. A $0.1 price point at this moment seems very unrealistic, but updates like this indicate a starting point for sustained price growth.&nbsp;&nbsp;&nbsp;
Featured image from Pexels

Shiba Inu Whales Bet Big As Shibarium Grows – Road To $0.1?

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