Completion Announcement
Shiba Inu (SHIB), a rival to Dogecoin (DOGE), has completed its highly anticipated Shibarium hard fork. The team behind the dog-themed meme asset made the announcement on social media.
Shibarium’s Benefits
Shibarium is a layer-2 scaling solution that aims to improve transaction speed and reduce gas fees. It utilizes both plasma and proof-of-stake (PoS) technology to allow users to move tokens between Shibarium and Ethereum.
According to Shiba Inu’s content market specialist, Lucie, Shibarium offers:
- Lower gas fees
- Faster transactions
- More use cases for the Bone ShibaSwap (BONE) digital asset
- Enhanced security features
Growth and Adoption
Shibarium has seen rapid growth since its initial beta release in July 2023. It has processed over 2.5 million transactions and reached an average of 200,000 daily transactions. Over 1.2 million unique wallet addresses have used the service, and the amount of BONE has reached 27.1 million.
Market Impact
At the time of writing, SHIB is trading at $0.000024, a 5.2% increase in the last 24 hours. The completion of the Shibarium hard fork is expected to have a positive impact on the value of SHIB and BONE.
