TL;DR
- Shibarium, the layer-2 solution for Shiba Inu, saw strong developer activity with a rise in deployed contracts, but daily transactions and new accounts have sharply declined.
- The Web3 game Shiba Eternity introduced new features and improvements, while the SHIB price increased by 2.5% amid a broader market recovery.
Solid Activity on Shibarium
Shibarium’s Marketing Strategist, using the X handle LUCIE, recently shared updates regarding important projects within the SHIB ecosystem. They revealed that Shibarium (the meme coin’s layer-2 scaling solution) approached a three-month high in deployed contracts, “showing strong developer activity.”
However, this seems to be one of the very few positive aspects for the network lately, with numerous indicators heading south. Data shows that daily transactions processed on Shibarium are less than 2,000, representing a 93% decline compared to the figure observed toward the end of August. The number of new accounts and active accounts has plunged drastically, too.
Shibarium saw the light of day approximately a year ago. It is specifically designed to foster the development of the Shiba Inu ecosystem by enhancing scalability, lowering transaction costs, and improving speed. For more updates on the ecosystem, make sure to check out our Shibarium news.
The next development is related to the Web3 game Shiba Eternity. LUCIE said the highlights include new leaderboards and rewards system and overall improvement to enhance users’ experience. The X user also stated the team fixed previous issues with freezing, loading screens, gameplay timing, and card effects.
Shiba Eternity is a game that allows players to collect, trade, and battle with cards featuring various characters, themes, and items inspired by the Shiba Inu meme. Not long ago, LUCIE revealed that the closed beta for the game is live.
SHIB Price Outlook
According to some industry participants, further developments in Shibarium could positively impact the price of Shiba Inu. The meme coin is up 2.5% daily and is currently trading at about $0.00001348.
Its slight resurgence coincides with the revival of the broader cryptocurrency market, where Bitcoin (BTC) briefly exceeded $58,000, while Ethereum (ETH) surpassed $2,350.
The meme coin realm is well in the green, too, with Dogecoin (DOGE), dogwifhat (WIF), Floki Inu (FLOKI), Bonk Inu (BONK), and many more charting substantial gains. Meanwhile, cat-themed tokens like Popcat (POPCAT) and Kittecoin (KOIN) have stolen the show, recording double-digit price increases.
