Shiba

Major

Chair

Inu.

TL;DR
<ul>
 <li>Shibarium has shown significant growth since its launch, processing millions of transactions and blocks while steadily increasing wallet adoption.</li>
 <li>The protocol&nbsp;has introduced upgrades for better performance, wallet compatibility, faster processing, and a token-burning mechanism to reduce SHIB supply and potentially increase value.</li>
</ul>
<a href="https://cryptopotato.com/wp-content/uploads/2024/11/Shibarium_CB-31.jpg" data-wpel-link="internal" rel="noopener noreferrer nofollow"></a>
<h2 id="another-target-reached">Another Target Reached</h2>
Shiba Inu’s layer-2 blockchain solution officially went live in August. It plays an important role in the meme coin’s ecosystem since it is designed to reduce transaction fees, improve speed, and enhance scalability.&nbsp;During its relatively short existence, the protocol hit countless milestones. In mid-November, the total number of transactions processed on the network <a class="editor-rtfLink" href="https://cryptopotato.com/shiba-inus-shibarium-hits-an-important-milestone-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">surpassed</a> 500 million.&nbsp;
Most recently, total blocks <a class="editor-rtfLink" href="https://www.shibariumscan.io/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">exceeded</a> 8 million, signaling Shibarium’s continued resurgence. Wallet addresses are also close to reaching a psychological level, with the figure currently standing just shy of 2 million.
Besides hitting the aforementioned milestones, Shibarium underwent several upgrades over the past months. In April, the team&nbsp;<a class="editor-rtfLink" href="https://cryptopotato.com/shiba-inu-team-announces-an-important-upgrade-on-shibarium-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">launched </a>a new user interface (UI) update, describing it as “faster, smoother, and more accessible than ever.”&nbsp;Its main goal was to improve compatibility with popular self-custody wallets such as TrustWallet, MetaMask, Coinbase Wallet, and others.
The developers also <a class="editor-rtfLink" href="https://cryptopotato.com/importnat-shiba-inu-shib-update-coming-up-next-week-details/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">introduced</a> an update via a hard fork to implement quicker block processing times and empower the community of developers and innovators.
Last but not least, Shibarium <a href="https://cryptopotato.com/important-shiba-inu-shib-announcement/" data-wpel-link="internal" rel="noopener noreferrer nofollow">adopted</a> a burning mechanism. Similar to the original program, the effort aims to reduce the tremendous circulating supply of SHIB tokens, making them potentially more valuable through scarcity.&nbsp;
For more updates on the ecosystem,&nbsp;make sure to&nbsp;check out our&nbsp;<a class="editor-rtfLink" href="https://cryptopotato.com/shibarium-news/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Shibarium news</a>.
<h2 id="span-data-preserver-spaces-true-shib-price-outlook-span">SHIB Price Outlook</h2>
Shibarium’s development is considered one of the key elements that could trigger a price resurgence for Shiba Inu. In fact, the token’s price is up nearly 4% on a daily scale, currently trading at around $0.00002493.
<figure id="attachment_371831" aria-describedby="caption-attachment-371831" style="width: 100%" class="wp-caption aligncenter"><a href="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5.png" data-wpel-link="internal" rel="noopener noreferrer nofollow"><img class="wp-image-371831" src="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5.png" alt="SHIB Price" width="574" height="400" srcset="https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5.png 1047w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5-300x209.png 300w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5-1024x714.png 1024w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5-768x535.png 768w, https://cryptopotato.com/wp-content/uploads/2024/11/SHIB-Price-5-50x35.png 50w" sizes="(max-width: 574px) 100vw, 574px"></a>
 <figcaption id="caption-attachment-371831" class="wp-caption-text">
 SHIB Price, Source: CoinGecko
 </figcaption>
</figure>
Its solid performance coincides with a major bull run among altcoins fueled by Gary Gensler’s <a class="editor-rtfLink" href="https://cryptopotato.com/sec-chairman-gary-gensler-confirms-he-will-step-down-in-january/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">decision</a> to step down as Chairman of the US Securities and Exchange Commission (SEC). The community views him as a big enemy of the asset class due to the numerous lawsuits the agency filed against crypto businesses during his tenure.
Unsurprisingly, one of the biggest gainers following the news of his departure is <a class="editor-rtfLink" href="https://cryptopotato.com/crypto-news/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">Ripple’s XRP</a>. The company has been involved in a legal battle with the SEC for almost four years. The XRP army now expects a quick settlement and no more uncertainty, assuming the next Chair is pro-crypto.&nbsp;
The post <a href="https://cryptopotato.com/shiba-inus-shibarium-blasts-through-another-major-milestone-details/" rel="noopener noreferrer nofollow">Shiba Inu’s Shibarium Blasts Through Another Major Milestone: Details</a> appeared first on <a href="https://cryptopotato.com/" rel="noopener noreferrer nofollow">CryptoPotato</a>.

Shiba Inu’s Shibarium Blasts Through Another Major Milestone: Details

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