Shiba Inu’s Shibarium Hits All-Time High in Major Metric After 851% Surge

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies, I must admit that the meteoric rise of Shiba Inu (SHIB) and its blockchain Shibarium is nothing short of intriguing. Having closely observed the crypto market’s ups and downs, I can confidently say that this particular bull run is a sight to behold.

The well-known digital currency, Shiba Inu (SHIB), is surging in the bull market. Not just that, SHIB’s price chart shows a 17% increase this month, and it’s only been five days into December, but it has already set a new record high for its platform, Shibarium.

For those who do not know, there is a full-fledged layer-2 blockchain built for Shiba Inu by a team of independent developers, and it recently hit a milestone of $10.47 million in total locked value. Shibarium’s momentum has been building steadily, with a particular acceleration born on Nov. 4, when the main metric for each blockchain skyrocketed 80.8% in just one month from that day. 

As an analyst, I’m thrilled to report a staggering expansion in the Shibarium ecosystem since late September. The total locked value has skyrocketed by an astonishing 851%, initially standing at just $1.23 million. This remarkable growth paints a promising picture for the future.

As an analyst, I’ve delved deeper into the Total Value Locked (TVL) of Shibarium and found that ShibaSwap is leading the pack, with a TVL of approximately $4.02 million. Interestingly, DefiLlama data indicates that this figure has skyrocketed by an impressive 94.1% over the last month, positioning ShibaSwap as one of the swiftest growing applications on Shibarium.

At this moment, Shibarium ranks as the 105th largest blockchain network, indicating vast potential for growth. With the Shiba Inu token holding a market capitalization of $18.49 billion, it stands as the 12th largest cryptocurrency. This implies there’s plenty of room for expansion within the wider SHIB ecosystem.

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2024-12-05 14:44