Critical Shiba Inu Metric Skyrockets by 200%: SHIB Price Bull Run Coming?

TL;DR

• Shiba Inu’s layer-2 blockchain solution, Shibarium, aims to outpace rivals by enhancing speed and reducing transaction costs.
• After a slowdown, daily transactions on Shibarium surged to 33,000 on October 16, albeit below the all-time high of 200,000 in September.
• The network is nearing a significant milestone with total transactions approaching 3.5 million.

Shibarium Shows Signs of Revival

One of the most popular memecoin projects – Shiba Inu – officially launched a layer-2 blockchain solution called Shibarium at the end of August

The network, which aims to elevate the asset above its rivals by improving speed and lowering transaction fees, became a sensation, gathering much attention from cryptocurrency participants and reaching numerous milestones in terms of transaction volume.

While the L2 scaling solution has not been progressing that rapidly in the past few weeks, the uptrend seems to have returned. According to Shibariumscan, daily transactionssurgedabove 33,000 on October 16, marking a 200% increase compared to the day before. Still, the figure is far from the all-time high of more than 200,000 transactions witnessed in mid-September

Those willing to learn more about Shibarium’s purposes and specifics could take a look at our dedicated video below:

Inching Towards Another Milestone

The network has so far reached numerous important achievements. For one, the total number of wallet addresses and total blockssurpassed1 million

Shibarium is on the verge of hitting another milestone in terms of overall transactions, with the figure being just shy of the 3.5 million mark.

It remains to be seen whether those bullish factors could propel a price rally for Shiba Inu (SHIB) in the near future.