Record Number of New Accounts According to Shibarium Scan, the Shibarium chain explorer, the number of new accounts on Shibarium reached an all-time high recently. This shows that more people are using the platform and believe in its potential. Shibarium, a Layer-2 solution on Ethereum, aims to make transactions faster and cheaper, fixing some of Ethereum’s biggest issues.
Growing Interest in Shiba Inu The increase in Shibarium users comes as the broader crypto market starts to recover, suggesting that Shiba Inu could benefit from renewed investor interest.
Positive Comments from Developers Shiba Inu’s lead developer, Shytoshi Kusama, recently interacted with Ethereum co-founder Vitalik Buterin. Buterin talked about making Ethereum solutions work better together, and Kusama showed support, saying he wouldn't be surprised by seamless interoperability. This interaction suggests that Shibarium could play a key role in a more user-friendly Ethereum ecosystem.
Expanding Beyond a Meme Coin The Shiba Inu project is evolving beyond its meme coin origins. It now offers more products and services, attracting long-term investors. The recent increase in Shibarium adoption and positive comments from developers have made investors optimistic.
Market Challenges Despite these positive developments, Shiba Inu's price is still affected by the volatile crypto market, regulatory changes, and competition. Currently, Shiba Inu (SHIB) is down 2.39% in the past 24 hours and has dropped 18.61% in the past week. Over the past month, it has declined by 14.60%.
With a circulating supply of 589 trillion SHIB tokens, Shiba Inu has a market cap of about $7.85 billion, according to CoinMarketCap. However, the recent price decline shows that SHIB investors are facing challenges.
