According to CryptoPotato, Shibarium, Shiba Inu's layer-2 blockchain solution, has been experiencing strong adoption as its usage and growth metrics show an increase in transactions and wallet addresses. On February 19, daily transactions on the network surged to 3 million, while the total number of transactions surpassed 360 million. Wallet addresses currently stand at more than 1.3 million, and total blocks exceeded the 3 million level at the beginning of the month.
Launched in August last year, Shibarium is designed to service the needs of the Shiba Inu ecosystem by lowering transaction fees and improving speed. Some experts believe that the further advancement of Shibarium could positively impact Shiba Inu's price, which has seen a modest rise recently. The meme coin is up approximately 10% on a two-week basis and 3% on a monthly scale. According to IntoTheBlock, the latest rally has changed the trends, with 37% of holders making money at current prices, compared to almost 90% of Shiba Inu investors being underwater in September last year.
Despite the fluctuations in SHIB's valuation in recent months, the Shiba Inu community remains devoted to its favorite digital currency. As reported in December, the self-proclaimed Dogecoin killer is the meme coin with the strongest supporter base.
