Shiba Inu's newly launched layer-2 blockchain, Shibarium, has reached over one million wallets since its relaunch on August 28, with nearly 100,000 transactions occurring as of September 3. However, the total value locked (TVL) on the network remains low at $1.06 million, indicating that users are only deploying small amounts of capital.

Shibarium developers are collaborating with third-party bridges to assist investors with bridging other tokens over to the new blockchain and plan to add more validators to the network in the coming weeks. Despite hopes for a price increase in SHIB, BONE, and LEASH tokens following the launch, their respective values have fallen since the botched launch on August 16.