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Shiba Inu, Shibarium Achieve Major Milestones Amid Unprecedented Interest Surge

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Mon, 11/03/2024 - 16:25
Shiba Inu, Shibarium Achieve Major Milestones Amid Unprecedented Interest Surge
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Shiba Inu, the dog-themed cryptocurrency, and Shibarium, its layer-2 scaling solution, have achieved remarkable milestones, reflecting growing interest in and adoption of the Shiba Inu ecosystem.

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Shiba Inu's price, market capitalization and trading volume skyrocketed in the last week, with prices jumping about 300% to highs of $0.00004575 on March 5 before falling. Shiba Inu's profitability increased before sustaining at 72% at press time.

According to CoinMarketCap data, SHIB, Shiba Inu's native cryptocurrency, is currently trading at $0.0000332, up 0.85% in the last 24 hours.

Shiba Inu has erased some of its weekly gains and is presently up 21.72% in the last 24 hours. During the price surge, Shiba Inu reentered the top 10 cryptocurrencies, a feat it still holds today. Shiba Inu is now the 10th largest cryptocurrency, with a market capitalization of 19.64 billion.

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Accompanying the massive price surge is an increase in SHIB addresses, for which the cryptocurrency has reached a new milestone.

According to IntoTheBlock data, total addresses, which refers to all addresses ever created and that at one point have held SHIB - including those that still do - have hit a new high of 3.88 million. Out of this, 1.29 million currently hold SHIB and have a balance of SHIB.

Shibarium smashes TVL milestone

Shiba Inu layer-2 solution Shibarium has seen phenomenal growth since its launch in late August 2023. The latest Shibarium milestone has been hit in terms of TVL, which remains near record peaks.

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On March 5, as Shiba Inu catapulted to highs of $0.000045, the total value locked for Shibarium reached a new high of $2.25 million.

Shibarium currently has a total value locked in of $1.8 million, according to DefiLlama statistics. According to Shibarium Scan Explorer, the total transactions for Shibarium are now 406,253,484. Total blocks have reached 3,618,856, and wallet addresses are at 1,374,155.

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