• SHIB token holders urged to migrate assets to Shibarium for token burns and low fees, while SHIB price eyes a 15% increase.

• Verified contracts surged by 633%, reaching 415, with 9,917 contracts on the platform.

Shiba Inu’s Layer-2 scalability platform, Shibarium, has made significant strides since reopening on August 24. In just a month, the platform has achieved notable milestones that underscore its potential as a prominent player in the blockchain arena.

Shibarium has rapidly gained popularity among users. In its initial month post-reopening, it quickly exceeded the impressive benchmark of 1 million total wallet addresses. This signifies its rapid adoption and the confidence it has instilled in the cryptocurrency community.

The platform continues to expand its user base remarkably, consistently adding around 36,667 new wallet addresses daily. This daily growth rate highlights Shibarium’s allure and increasing service demand.

Shibarium’s transaction volume has been remarkable, with total transactions nearing 3 million. At present, the platform boasts an impressive 2,944,672 transactions. These statistics reflect substantial activity and utility within the ecosystem.

Data from Shibariumscan shows a notable surge in newly verified contracts, with an astonishing 633% increase in just one week. This surge has propelled Shibarium to a new all-time high, with 415 verified contracts, illustrating the platform’s flourishing ecosystem of decentralized applications.

In addition to verified smart contracts, Shibarium has experienced exponential growth in its total contract count, reaching an all-time high of 9,917. This substantial growth underscores the platform’s versatility and potential for various applications.

Shibarium maintains an average block time of 191.385 seconds, ensuring efficient and dependable transaction processing. With 2.676 million completed transactions, the network’s performance highlights its scalability.

Encouraging Asset Transition

Lucie, Shiba Inu’s marketing strategist, has encouraged users to transfer their assets from centralized exchanges to Shibarium. She emphasized that Shibarium conducts token burns for every transaction, underscoring the importance of this Layer-2 platform for SHIB token holders.

Lucie clarified that token burns are an inherent feature of Shibarium, emphasizing that the exclusive method for burning SHIB tokens is utilizing the Layer-2 platform. Furthermore, Shibarium currently offers nearly negligible transaction fees, although users should be aware that fees may increase with higher traffic.

Could New Verified Contracts Trigger a Spike in Shiba Inu’s Value?

Shiba Inu is crucial to the Shibarium ecosystem as its governance token. Increased network usage often increases demand, potentially resulting in higher prices. The recent surge in new verified contracts could indicate such a trend.

Typically, in networks that facilitate decentralized finance (DeFi) protocols, a rise in new verified contracts signals growing developer interest in building on the platform. Increased protocol availability can inadvertently attract more users, thus driving up demand.

As of the latest data, the Shiba Inu (SHIB) price is trading at $0.000007295. Technical indicators suggest the potential for an additional 15% price increase before the month concludes. This analysis provides valuable insights for traders and investors interested in SHIB.

It’s worth noting that the meme coin is trading below both its 50-day and 100-day moving averages. While this situation may be bearish for the coin’s price, it could serve as a starting point for a digital asset rally if the cryptocurrency market embarks on another bullish phase.”