HomeNewsShiba Inu's Shibarium Soars: Explosive Growth and BONE Staking Frenzy - Will...

Shiba Inu’s Shibarium Soars: Explosive Growth and BONE Staking Frenzy – Will SHIB Hit $0.0001?

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  • Shibarium witnesses an explosive surge in transactions, surpassing 2.5 million.
  • BONE, the altcoin linked to gas fees, sees a spike in staking, reaching over 27.1 million.

Drawing inspiration from the vast landscape of blockchain developments, the Shiba Inu’s layer-2 blockchain, Shibarium, is experiencing a significant surge. The rapid ascent in its performance has given rise to a noticeable increase in staking for BONE, the altcoin integral to its operational gas fees. This information mirrors the insights presented in an online article by dailyhodl.

A Glimpse into Shibarium’s Momentum

Shibarium’s recent data indicates that its total transaction count has crossed the 2.5 million mark, with daily transactions hovering just over 200,000. Besides, over 1.2 million unique wallet addresses have engaged with its platform.

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Earlier in the month, when Shibarium crossed 1 million transactions and wallet addresses, developer Kaal Dhairya commented,

“We are not just achieving but also striving to sustain our status as one of the premier layer-2 networks. The fact that some even gripe about our ultra-low gas prices is a bit amusing.”

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Technical Hurdles and Triumphs

Initiated in mid-August, Shibarium faced some challenges. It had to momentarily shut down due to technical glitches stemming from an overwhelming user response, which led to crypto assets worth millions getting stranded on its Ethereum (ETH) bridge. However, this setback was short-lived. Under the guidance of lead developer Shytoshi Kusama, the platform was revived with a new monitoring framework designed to mitigate complications from potential network traffic spikes.

Presently, SHIB is priced at $0.000007, noting a slight upturn for the day. Concurrently, BONE is trading at $0.832, marking a modest increment over the past day.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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