Shibarium, the layer 2 scaling solution developed for the Shiba Inu cryptocurrency, has reached a new milestone, surpassing three million blocks.
The platform, designed to enhance the efficiency and scalability of transactions within the Shiba Inu ecosystem, now boasts over 334 million transactions and has attracted 1.35 million wallet addresses.
With an average block time of just 5 seconds and gas fees effectively at zero, Shibarium has shown impressive performance in terms of throughput and cost-effectiveness.
The daily transaction volume has also reached a remarkable figure of 2.46 million.
A closer look at Shibarium\'s stats
The platform has processed a total of approximately 332.613 million transactions, with the average block time slightly higher at 49.581 seconds.
The total number of contracts on the platform has reached 15,004, which shows robust development activity on Shibarium.
The total number of accounts stands at 63,225, with the total number of tokens supported by the platform at 8,979.
These figures underscore the platform\'s capacity to support a diverse range of applications and tokens.
Shiba Inu\'s performance
The price of Shiba Inu (SHIB) has shown resilience and growth, currently standing at $0.000008903, marking a 1.77% increase over the past day, according to CoinGecko data.
This performance has helped maintain its market capitalization at $5.25 billion, ranking it 18th among cryptocurrencies.
When compared to other meme coins, Shiba Inu demonstrates a significant market presence. Dogecoin (DOGE), its closest competitor, has a market cap of over $11 billion, but Shiba Inu outpaces newer entrants like Bonk (BONK) and Pepe (PEPE), which have market caps of $634 million and $381 million, respectively.