Shibarium Blockchain Reaches 1.5 Million
The Shiba Inu meme coin continues to be popular among many crypto industry participants, fueled by news about developments in its ecosystem. However, the Shibarium second-layer blockchain, which was launched in August, is receiving the most attention.
According to Shibariumscan, the total number of blocks on the network recently surpassed 1.5 million. The total number of transactions is gradually approaching the 4 million mark, currently equal to 3.8 million. The number of wallets has exceeded 1.2 million.
Shibarium aims to give Shiba Inu an advantage over its competitors by increasing transaction processing speeds and reducing transaction costs. These goals are presented as a bullish factor that could lead to an increase in the price of SHIB.
Another factor that could stimulate the token’s growth could be the successful execution of the Shiba Inu burn program. Last month, nearly 1.5 billion SHIBs were destroyed as part of the initiative, with the record day being October 28, when more than 250 million coins were removed from circulation.
