Meme cryptocurrency Shiba Inu (SHIB) has recaptured attention in the digital asset sector, particularly following the relaunch of Shibarium, a layer-2 scaling solution. Shibarium encountered initial challenges upon its launch due to high user and transaction volumes, leading to an outage.
In response to these challenges, Mihailo Bjelic, the co-founder of Polygon (MATIC), extended an invitation to the Shiba Inu community through an August 30 post on X (formerly Twitter). He suggested enhancing the blockchain ecosystem by leveraging Polygon zkEVM.
While confirming Shibarium’s restored functionality, Bjelic advised other projects on Layer 1 or sidechains to consider transitioning to Ethereum (ETH) Layer 2.
Shiba Inu one-day price chart. Source: Finbold
Moreover, the development of Shibarium has led to significant on-chain gains for the Shiba Inu network. According to a Finbold report, the news of the Shibarium relaunch resulted in a surge of 35,000 new wallets within a single day, pushing the total user count beyond 100,000.
As of August 30, the blockchain boasts 306,135 wallets, facilitating over 520,117 transactions across 367,739 blocks.
