Shiba Inu Community Celebrates New Milestone One Day After Shibarium Goes Public
August 29 2023 - 7:00PM
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Shiba Inu’s (SHIB) community’s resolution was tested following
Shibarum’s launch, as the network didn’t get off to the best start,
dragging SHIB’s price down in the process. However, the community’s
faith didn’t waiver, and now, it is in celebratory mode as
Shibarium marks a major milestone just a day after its relaunch.
Shibarium Wallets Cross 100,000 Members of the SHIB community have
stormed social media to celebrate this major milestone, with many
users on the X (formerly Twitter) platform posting several tweets
in this regard with the hashtag “#SHIBARMYSTRONG.” Related Reading:
Bloomberg Expert Analyst Explains Why A Fall To $10,000 Isn’t Bad
For Bitcoin According to data from block explorer Shibariumscan,
over 100,000 wallets have been created on the Shibarium network
since going live. This figure signifies an increase of over 35,000
wallets created since Shibarium relaunched yesterday. Shibarium’s
lead developer, Shytoshi Kusama, announced on August 28 that the
network was ready for “prime time” and that the network was going
to be reopened to the public. As part of the announcement, he noted
that Shibarium had accumulated over 65,000 wallets before the
relaunch. Since then, new users have flocked to the network,
with the total number of wallet addresses on the network standing
at around 101,658 (at the time of writing). That represents more
than a 50% increase in the number of users on the network since it
relaunched. This figure may not surprise the SHIB community,
considering that Kusama had earlier credited them for the “massive
influx of transactions and users” that overwhelmed the network upon
launch. Such a milestone suggests that the SHIB community
remains bullish on the layer-2 network despite the difficulties it
experienced upon launch. Shibarium is projected to become a major
player in the decentralized finance (DeFi) space as demand for the
network increases. The network’s success is also expected to
significantly impact the Shiba Inu token, considering that it is
one of the governance tokens on the network. As such, its value
should rise as trading activity on Shibarium increases. SHIB
recovers above $0.000008 | Source: SHIBUSD on Tradingview.com More
To Come, Says Shiba Inu Lead Dev In his update on Shibarium’s
restart, Kusama noted that there was more to come for the network
as it continues to build. He further stated that the team would
keep providing Shibarium updates on their official channels. As
part of these updates, Kusama announced on their official Telegram
channel that the official WBone will be launched shortly, stating
that the contract verification “should be up early this week.” He
also mentioned that there are plans to renounce BONE’s token
contract. BONE is one of the governance tokens on the Shibarium
network. With this development, the token’s developer will no
longer be able to make future changes in a move that strengthens
holders’ confidence. Related Reading: Binance Will Halt These 39
Liquidity Mining Pools This Week Shibaswap, Shiba Inu’s
decentralized exchange (DEX), will also be moved to Shibarium. The
DEX is currently built on the Ethereum network. This marks part of
the efforts to move all Shiba Inu-related products to the layer-2
network. Kusama noted that Shibarium was still “very early”
and had a long way to go. However, he will continue to focus on
“building decentralized systems and showcasing projects.” Featured
image from iStock, chart from Tradingview.com
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