- Shiba Inu (SHIB) celebrates its third anniversary with remarkable growth and praise from users and partners.
- Activity surges, reaching an all-time high in new SHIB addresses and nonempty wallets.
On its third anniversary, Shiba Inu (SHIB), launched in August 2020, received praise from various users and partners for its remarkable growth. Among those celebrating was the digital payments platform Wirex, which acknowledged Shiba Inu’s thriving ecosystem and impressive achievements.
Wirex, the banking alternative for Web3, disclosed that it added SHIB to its platform in 2022. As a result, its 5.5 million users can now easily buy, exchange, and spend SHIB at over 81 million retailers worldwide. The Shiba Inu team confirmed these details and encouraged users to utilize the service.
Hold on to your dog biscuits 🐾 Did you know you can use @wirexapp & pay with $SHIB at 81 million retailers worldwide 🌏Treat yourself to some amazing goodies and celebrate our birthday in style 🎁 #ShibaInuBirthday https://t.co/C5UQMtYasU
— Shib (@Shibtoken) August 1, 2023
Significantly, users receive rewards for utilizing SHIB on the payment platform. Wirex emphasized this in a promotional video posted on Tuesday, stating, “Spend SHIB and receive instant rewards.” Users can earn up to 8% rewards for each transaction involving SHIB or other cryptocurrencies using a Wirex ATM card. Wirex supports more than 250 crypto assets.
High Adoption of SHIB for Payment Settlements Fuels Optimism
Notably, the use of SHIB for payment settlements has recently remained high. As a result, members of the ShibArmy express optimism that these positive developments will contribute to a gradual increase in SHIB’s value over time.
Last month, BitPay and Sardine formed a strategic partnership to facilitate instant settlements for SHIB and card payments for the canine-themed token in more than 180 countries. Additionally, this collaboration allows BitPay users to conduct SHIB transactions of up to $3,000 daily with improved authorization rates and minimal fees.
SHIB’s social influence has surged in anticipation of the significant ecosystem addition known as Shibarium. Davinci Jeremie, an early Bitcoin adopter, suggests that SHIB might experience significant developments in the upcoming months.
Surging Activity: July Witnesses a 115% Weekly Rise in New SHIB Addresses
Additionally, the Shiba Inu token has accomplished an incredible feat, reaching an unprecedented number of addresses and establishing a new all-time high. Within its three-year existence, the token has gathered an impressive 3.51 million addresses, as reported by IntoTheBlock
Activity has seen a remarkable surge, particularly in the last month, with July experiencing an astonishing 115% weekly rise in new SHIB addresses. This unprecedented level of excitement and anticipation among investors is evident. The figure continues to rise, with a recent 22% increase in the past seven days.
Significantly, the ongoing surge in activity goes beyond the increase in new addresses. Nonempty wallets have also hit an all-time high, with an impressive 1.24 million addresses currently holding SHIB tokens. This figure represents 35.3% of all Shiba Inu token holders, suggesting a substantial portion of the community is actively involved in cryptocurrency.
Shibarium’s Impact on the Shiba Inu Ecosystem
The increase in activity and the influx of new SHIB holders can be credited to the excitement surrounding Shibarium, Shiba Inu’s much-anticipated Layer 2 protocol. Expected to launch this summer, the protocol holds the promise of introducing exciting advancements and improvements to the Shiba Inu ecosystem. As August begins, the anticipation for Shibarium continues to grow exponentially.
The launch of Shibarium is anticipated to tackle the scalability issues that the Shiba Inu token has been facing, presenting fresh possibilities for developers and users. SHIB holders perceive the introduction of this Layer 2 protocol as a significant advancement in building a stronger and more effective blockchain ecosystem.
