Shiba Inu Smashes New Milestone as Adoption Rate Metric Jumps

[] 2 weeks ago

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Dog-themed cryptocurrency Shiba Inu has smashed a new milestone as its adoption rate metric soars. Shiba Inu has consistently grown its total addresses despite declining prices.

According to IntoTheBlock data, Shiba Inu's total addresses have plotted a straight ascending graph in their total addresses, which now stand at 3.59 million.

Shiba Inu is seeing a jump in the new adoption rate metric, reaching 39.14% on Sept. 18, per IntoTheBlock data. This reflects the growing entry of new participants into the ecosystem.

The new Shibarium innovation is undoubtedly attracting more participants to the Shiba Inu ecosystem. Shibarium has achieved significant milestones since its initial and subsequent relaunch in August of this year.

Shibarium is already approaching the three million mark in total transactions, reflecting its utility and demand. Currently, Shibarium has reached 2,910,761 total transactions; 1,246,666 wallet addresses and 712,492 total blocks.

Shiba Inu price turns green

Shiba Inu (SHIB) prices rose as bulls fought to reclaim control of the cryptocurrency market. The price increases came when Bitcoin surpassed the $27,000 barrier in an unexpected start to the week.

SHIB was still in the green at the time of writing, up 1% in the last 24 hours to $0.0000073. BONE, the Shibarium Layer-2 blockchain's gas token, has also increased somewhat in the last 24 hours to $0.812 as developers continue the process of renouncing the BONE contract.

As reported, over the weekend, Shiba Inu developer Kaal Dhairya unveiled the steps to be undertaken in renouncing the BONE contract, which might take some time. LEASH was marginally up 2.55% in the last few hours to $309.