Shibarium, the Layer 2 scaling solution of the Shiba Inu ecosystem, has hit a key milestone. Shibarium’s first launch was botched earlier this month,
but the relaunch on August 28 resulted in threefold growth in the number of wallets on the Layer 2 chain.
On the day of the relaunch, Shiba Inu’s Layer 2 chain added 35,000 new wallets to its network as users lined up to use Shibarium. The successful relaunch is likely to act as a bullish catalyst and trigger a recovery in SHIB price, supported by bullish on-chain metrics.Shibarium goes live with smooth withdrawals of BONE, SHIB, LEASH, WETH tokens confirmed by Shytoshi KusamaThe Shiba-Inu-themed meme coin is gearing up for a recovery in its price, supported by two bullish catalysts.
The supply on exchanges represents the selling pressure on the asset. Therefore, a decline in the metric is bullish forShibarium activity multiplies three-fold in 24 hours of relaunch Shibarium hit a key milestone, surpassing 100,000 wallets on its Layer 2 chain, and 35,000 were added in less than 24 hours from relaunch. The SHIB community is keen on adopting the Layer 2 scaling solution, and this is likely to act as a catalyst for SHIB price recovery in addition to bullish on-chain metrics.Bitcoin, altcoins, stablecoins FAQsBitcoin is the largest cryptocurrency by market capitalization, a virtual currency designed to serve as money.
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