{"id":9218,"date":"2024-03-24T18:41:16","date_gmt":"2024-03-24T18:41:16","guid":{"rendered":"https:\/\/www.bitrabo.com\/discover\/shiba-inus-shibarium-hits-new-record-amid-chaotic-market-movements\/"},"modified":"2024-03-24T18:41:16","modified_gmt":"2024-03-24T18:41:16","slug":"shiba-inus-shibarium-hits-new-record-amid-chaotic-market-movements","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/shiba-inus-shibarium-hits-new-record-amid-chaotic-market-movements\/","title":{"rendered":"Shiba Inu\u2019s Shibarium Hits New Record Amid Chaotic Market Movements"},"content":{"rendered":"

Shibarium, Shiba Inu\u2019s layer-2 solution, recently reached an all-time high total value locked (TVL) of over $3.67 million. As if the current bullish sentiment around the Shiba Inu’s ecosystem isn’t enough, its layer-2 solution has now reached a milestone that could lead to a further price surge.\u00a0<\/p>\n

According to data from DeFiLlama<\/a>, the total value locked on Shibarium jumped from $1.43 million on March 22 to $3.38 million on March 23, sparking optimism about SHIB\u2019s price.<\/p>\n

<\/span>Shibarium TVL Surges To New Milestone<\/b><\/span><\/h2>\n

Shibarium\u2019s total value locked hitting a new high shows the network effect in action. Interestingly, data shows Shibarium’s TVL has spent most of the year below $1 million before crossing over in late February. However, the TVL stands at $3.67 at the time of writing, revealing a positive change in the ecosystem.\u00a0<\/p>\n

The recent surge in TVL can be particularly attributed to the launch of the DAMN token on WoofSwap, which is a decentralized exchange built on the Shibarium. DAMN quickly gained attention as one of the hottest cryptocurrencies after its launch on March 18. <\/p>\n

According to data from Shibariumscan<\/a>, this frenzy led to a surge in the number of daily active users to 2,482 on the day of its launch. Similarly, WoofSwap’s TVL has grown by 8,988% in the past seven days.\u00a0<\/p>\n

Another catalyst for the surge in TVL was the launch of KNINE tokens, a liquid staking solution on the Shibarium blockchain.<\/p>\n

<\/p>\n

<\/span>What\u2019s Next For Shiba Inu?<\/b><\/span><\/h2>\n

Naturally, Shibarium\u2019s recent milestones have sparked optimism about SHIB\u2019s price as the cryptocurrency is well known to react to updates about the layer-2 network. This growth shows that Shibarium is attracting more users, which could boost SHIB\u2019s price.\u00a0<\/p>\n

Shibarium’s new milestone saw SHIB rallying 8.8% to $0.00002828 in less than 24 hours. This price rally highlights the close correlation between the growth of Shibarium and the SHIB price.<\/p>\n

SHIB is trading at $0.00002806 at the time of writing. The cryptocurrency is in fact, still riding on the back of a 193% gain in the past 30 days despite being 37% down from its $0.00004456 earlier in the month.\u00a0<\/p>\n

On-chain metrics and investor sentiment point to a continued price surge in the near future. On-chain analytics platform Santiment recently pointed out that Bitcoin, along with SHIB and other meme coins, remained the focus of traders throughout the weekend. SHIB, which naturally has a strong price correlation<\/a> with Bitcoin, could reignite a surge in tandem.<\/p>\n

According to Lucie, Shiba Inu’s marketing lead, the price of SHIB could surge by 250% before the next Bitcoin halving which is slated to occur in April.<\/p>\n

Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Shibarium, Shiba Inu\u2019s layer-2 solution, recently reached an all-time high total value locked (TVL) of over $3.67 million. As if the current bullish sentiment around the Shiba Inu’s ecosystem isn’t enough, its layer-2 solution has now reached a milestone that could lead to a further price surge.\u00a0 According to data from DeFiLlama, the total value […]<\/p>\n","protected":false},"author":1,"featured_media":9219,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Shiba Inu\u2019s Shibarium Hits New Record Amid Chaotic Market Movements - Bitrabo","description":"Shibarium, Shiba Inu\u2019s layer-2 solution, recently reached an all-time high total value locked (TVL) of over $3.67 million. As if the current bullish sentiment a"},"footnotes":""},"categories":[316],"tags":[2785,837,2398,496,2786,1384,584,2399],"class_list":["post-9218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-chaotic","tag-hits","tag-inus","tag-market","tag-movements","tag-record","tag-shiba","tag-shibarium"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=9218"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/9218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/9219"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=9218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=9218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=9218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}