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Shibarium Witnesses Historic Rise in Gas Fees
Shibarium has recently announced a significant surge in gas fees, marking a historic milestone for the network. This increase in fees has coincided with a notable rise in the number of active users, indicating a growing interest and participation in the platform. The network is now preparing for the introduction of its highly anticipated L2 scalability solution upgrade, which has already started to impact the network significantly even before its official release.
L2 Scalability Solution by Shiba Inu Experiences 500% Surge in Transaction Fees
One of the latest developments on Shibarium is the massive surge in transaction fees related to the L2 scalability solution by Shiba Inu. Recent data has revealed a 500% increase in gas fees, rising from 12 BONE to 61.47 BONE. This surge clearly demonstrates the heightened level of user activity on the network, with BONE (Bone ShibaSwap) serving as the dedicated token for gas fees. The spike in transaction fees underscores Shibarium’s expanding footprint in the crypto space and signifies a critical phase of growth and adaptation for the network.
Spike in Active Users and Price Surge for SHIB
Aside from the surge in gas fees, Shibarium has also witnessed a notable uptick in the number of active users, with a remarkable 211% increase recorded in just one week. The number of active users has surged from 1,724 to 3,650, highlighting a growing level of participation and interest in Shibarium. As a result, the price of SHIB, the network’s meme coin, has experienced a 4.23% surge in the past 24 hours, currently trading at 0.00002288 dollars. Analysts predict that SHIB could maintain a price of 0.0000250 dollars by the end of the year, further solidifying its position in the market.
Recent Developments and Future Outlook
Shiba Inu’s recent success can be attributed to a series of strategic moves by the network’s team, including a recent 12 million dollar funding round from venture capitalists. Additionally, Shiba Inu unveiled its Layer 3 Privacy Chain, leveraging ZAMA’s FHE technology to enhance security and privacy for users. The team has also rolled out a significant platform update aimed at improving accessibility and user experience.
As Shibarium gears up for the upcoming hard fork, the network continues to make waves across the crypto landscape. The impending upgrade signifies a new chapter in Shibarium’s evolution and sets the stage for further innovation and growth in the future.
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