Shiba Inu (SHIB), a dog-themed meme cryptocurrency, has been astonishing and has already set remarkable records in the crypto market. For the past year, SHIB has been slightly ahead of Ethereum (ETH), the second-largest cryptocurrency in the market. However, the overall trend in the market has been positive, with both SHIB and ETH registering more than 6% of the daily high, and SHIB has maintained a slim lead.
This success can be seen while SHIB has been thriving the whole year and is full of activity for the project. The SHIB team has not sat idle and relied on its previous achievements but has endeavored to create more offerings to uphold bullish momentum within the SHIB community.
Also Read: Shiba Inu Community Warned of Scam Risks Amid TREAT Token Anticipation
Shiba Inu’s Layer-3 Network and its impact on the growth of Shibarium
To boost the privacy and security of the Shiba Inu ecosystem, the Shiba Inu team recently revealed intentions of creating a Layer-3 network based on FHE. This development will help create and adopt new users into the SHIB community while focusing on the protection of users‘ data.
Advertisement
Shibarium, the Layer-2 blockchain for Shiba Inu, also achieved a key milestone with more than 6 million blocks on the network. Shibarium, therefore, continues to expand its reach to implement a token burn feature into the basic subsystems of the network. These facts are evidence of the growing interest in the Layer-2 network and the overall Shiba Inu ecosystem, which positively affects the SHIB token.
As of the latest, SHIB traded at $0.00001417, marking a 6.5% increase in the past day. Despite this price surge, trading volume decreased slightly by 0.4% to $301 million. Notably, SHIB remains hopeful as all these events unfold to define the future of the meme coin adoption and investment.
Conclusion
In conclusion, Shiba Inu’s achievements in the past year have positioned it as a strong contender in the cryptocurrency market. The ongoing developments and strategic initiatives indicate a promising future for SHIB and its growing ecosystem.
Also Read: Shiba Inu Marketing Expert Warns of Scammers Exploiting TREAT Token
Maxwell Mutuma
Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. He writes extensively on topics such as blockchain, cryptocurrency, tokens, and more for top publications such as Coingape, Coin Edition, and The Coin Republic. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.