24/7 Cryptocurrency News

Shibarium Surpasses Over 1 Million Wallet Addresses In A Month of Launch, SHIB Price Rally Soon?

Over the last week, the total smart contracts on the Shibarium Layer-2 scalability platform surged by a staggering 633%.
Published by
Shibarium Surpasses Over 1 Million Wallet Addresses In A Month of Launch, SHIB Price Rally Soon?

Shiba Inu’s Layer-2 scalability platform Shibarium delivers an impressive performance within a month of its launch. Since it reopened on August 24, after some initial hiccups, the Shibarium total wallet addresses have surpassed the 1 million mark.

The Shiba Inu Layer-2 has been adding 36,667 new wallet addresses on a daily basis. Additionally, Shibarium is on the brink of a significant utility milestone, as its total transactions approach the 3 million mark. In fact. The Layer-2 platform has already recorded a total of 2,944,672 transactions.

Also, as per the data from Shibariumscan, the layer-2 scalability solution has experienced a remarkable surge in newly verified contracts, witnessing an astounding 633% increase just this week. Consequently, Shibarium has achieved a substantial uptick in the number of verified contracts, reaching a new all-time high of 415.

It’s worth highlighting that between September 14-17, Shibarium incorporated merely eight verified smart contracts. However, there was a noteworthy surge with the addition of 19 verified contracts on the subsequent day, September 18. In addition to verified smart contracts, Shibarium has witnessed a remarkable increase in its total contracts, reaching an all-time high of 9,917.

Also, the network currently maintains an average block time of 191.385 seconds, accompanied by a total of 2.676 million completed transactions.

Shiba Inu Team: Move Assets to Shibarium

In the latest post, Shiba Inu marketing strategist Lucie (@LucieSHIB) called on users to move their assets from the centralized assets to the Layer-2 scalability platform Shibarium.

Lucie initiated her message by dispelling a prevalent misconception concerning Shibarium’s involvement in the SHIB token burn. She emphasized that the inquiry isn’t about when Shibarium will conduct SHIB token burns. Rather, when SHIB holders will transition from exchanges to Shibarium.

To bolster her argument, she directed focus toward the defunct FTX exchange, a major player in the cryptocurrency sector that has now gone bankrupt. This was done to underscore the risks associated with users depending on centralized cryptocurrency exchanges for token management.

Lucie underscored that the Layer-2 platform conducts token burns for every transaction, irrespective of the discussions regarding burns in online posts. She emphasized that the exclusive means of burning SHIB tokens is through the utilization of Shibarium.

Also, the transaction fee on Shibarium is currently almost negligible. However, this is subject to increase with the increase in the traffic.

The Shiba Inu (SHIB) price is currently trading at $0.000007449. As per technical indicators, the SHIB price can rally an additional 15% before the month end.

Advertisement

Share
Bhushan Akolkar

Bhushan is a seasoned crypto writer with over eight years of experience spanning more than 10,000 contributions across multiple platforms like CoinGape, CoinSpeaker, Bitcoinist, Crypto News Flash, and others. Being a Fintech enthusiast, he loves reporting across Crypto, Blockchain, DeFi, Global Macros with a keen understanding in financial markets. 

He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills. Bhushan has a bachelors degree in electronics engineering, however, his interest in finance and economics drives him to crypto and blockchain.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Trump-Backed World Liberty (WLFI) Plans RWA Tokenization Paired with USD1 Stablecoin

Trump Family's World Liberty Financial has unveiled big real-world asset (RWA) tokenization plans on Wednesday,…

October 1, 2025
  • 24/7 Cryptocurrency News

Stripe Eyes U.S. Banking Charter, Pioneers One-Click Stablecoin Issuance for Firms

Fintech giant Stripe has unveiled a suite of tools to enable businesses to tap into…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: Metaplanet Expands Treasury With 5,268 BTC Purchase, Climbs to 4th Largest Holder

Metaplanet has expanded its Bitcoin portfolio with another purchase. The Tokyo-listed firm is now the…

October 1, 2025
  • Bitcoin News

BREAKING: Nasdaq Files with US SEC to List BlackRock Bitcoin Premium Income ETF

Nasdaq has officially filed to list and trade BlackRock iShares Bitcoin Premium Income ETF with…

October 1, 2025
  • 24/7 Cryptocurrency News

Mr Beast, Whales Buy ASTER Token Amid 20% Crash, What’s Next?

While the ASTER token has crashed 20% in the last 24 hours, to test the…

October 1, 2025
  • 24/7 Cryptocurrency News

Breaking: U.S. Government Shuts Down After Congress Fails to Pass Funding Bill

The U.S government has entered its first shutdown since 2019 after lawmakers failed to reach…

October 1, 2025