Shiba Inu: Since starting in August 2023, the Shibarium network, a special blockchain for the Shiba Inu community, has become very popular. Lots of transactions have happened, reaching hundreds of millions, and more projects are being made on the network.
Earlier this week, the Shibarium network counted more than 63,000 total accounts. This shows that since December began, the number of user accounts has doubled, from about 30,000 to now over 63,000.
According to Shibariumscan, the account growth metrics keep an eye on how many individual accounts are connected to the network. These accounts are called externally owned accounts (EOAs) and are made with a special private key. This makes it a good way to figure out how many users are using the network.
Looking at the information above, we can see that Shibarium has quickly gained tens of thousands of users in the blockchain industry. People are being drawn to the Shiba Inu ecosystem because it offers low fees for token transfers and decentralized applications (dApps).
Developers Also Double Down on Shibarium
In addition to more people using it, the Shibarium network is also seeing a big rise in the number of smart contracts made by developers. Smart contracts are essential for many decentralized apps because they automatically carry out agreed-upon terms when users fulfill them.
Since December 1, Shibarium has included 749 new smart contracts. Every day during this time, the network has added at least two new contracts, with the most added being 59 on January 21.
As more people start using Shibarium, the price of Shiba Inu (SHIB) is predicted to go up because developers are getting rid of some tokens used for transaction fees. They’ve already destroyed more than 43.55 billion tokens and plan to destroy even more to raise prices.
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