- Shibarium’s total transactions and wallets exceeded 1.3 million and 1.1 million, respectively.
- Investors bought SHIB while its price plummeted, but the supply held by top addresses also dropped.
Despite robust development going around Shiba Inu’s [SHIB] Shibarium, its native token failed to meet investors’ expectations. Since the launch of the Layer-2, SHIB’s market capitalization reduced substantially, causing the meme coin to bleed.
Read Shiba Inu’s [SHIB] Price Prediction 2023-24
If the declining trend continues, there are chances of SHIB slipping off the list of the top 20 cryptos by market cap.
Shibarium’s adoption is on the rise
Shibarium remains a hot topic of discussion as its adoption has increased over the last few weeks. Notably, Shibarium explorer Shibariumscan.io revealed that the total number of wallets exceeded the 1.1 million mark.
Moreover, its usage was also on the rise as its total transactions reached 1.38 million. At the time of writing, Shibarium had processed more than 520,000 blocks, with an average block time of five seconds.
Despite Shibarium’s growth, SHIB did not react positively. In fact, LUCIE, an official X (formerly Twitter) handle that posts updates related to the Shiba Inu ecosystem, also highlighted that most investors were bearing losses.
We’re all feeling exhausted, and we’re all experiencing losses—it’s tough.
But
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Author: Dipayan Mitra
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