The Shiba Inu coin achieved a landmark feat regarding its Layer 2 blockchain, Shibarium, sparking optimism over SHIB price to $0.01 ahead.
Shiba Inu Coin Makes Landmark With Phenomenal Shibarium Growth
In an X post by Lucie dated October 25, the marketing lead revealed that Shibarium transactions are witnessing a phenomenal surge. As per her post, the daily transactions on the network reached 4.77 million recently. This surge underscores rising user interaction for the L2, hinting that the top meme coin is gaining significant traction across the landscape.
Further, according to Lucie, the growth marks the beginning of major developments on the network. These developments encompass projects like ShibaSwap, among other Shibarium projects. Also, the total number of accounts on the Layer 2 surged to over 160K, adding to investor enthusiasm surrounding the coin’s Web3 venture.
Accounts:
Meanwhile, Lucie also shared vital insights on the future of gas fees on the network. Notably, a $0.01 fee could be seen ahead, given that 100 million wallet users use the network actively. Lucie added, “just like with ETH, the price of gas is driven by traffic,” sparking further market discussions over Shibarium transaction fees ahead.
However, despite the abovementioned optimistic developments, Coinglass data indicated a marginal 0.6% drop in futures OI to $50.22 million. Moreover, even the derivatives volume dipped 33% to $87 million, raising market concerns.
Nevertheless, it’s worth mentioning that CoinGape Media also reported a massive surge in the SHIB burn rate amid rising Shibarium activity recently, indicating that SHIB price rise to $0.01 lies ahead, which is also much anticipated by the meme crypto’s community.
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