📢 The ProPicks AI strategy to watch when Tech rally slows down. It did 2X the S&P in July!Unlock AI Insight

Shiba Inu (SHIB) Smashes New Adoption Milestone

Published 2023-08-23, 08:47 a/m
© Reuters.  Shiba Inu (SHIB) Smashes New Adoption Milestone
SHIB/USD
-

U.Today - Leading 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 , 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 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. 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.

This article was originally published on U.Today

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.