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Shiba Inu (SHIB) has maintained northbound moves since mid-June, gaining upside stability. The altcoin remained steady, even resisting the selling momentum from the PolyNetwork hack during the weekend.
Shiba Inu grows amidst surging popularity
The latest updates show the Shibarium ecosystem enjoying substantial growth, with users nearing the 1.5 million mark. Meanwhile, SHIB holders account for around 85% of the figure (1,287,803), whereas BONE holders stand at approximately 82,622 (5.5%), and LEASH’s 2% represented 30,178 of all holders.
DogPad Finance, which incorporated tremendous utilities for building new assets on Shibarium, had 2,200 holders. The meme coin ecosystem presents massive potential for growth.
That supports Shiba Inu’s objective of attracting new use cases and fans. Meanwhile, Shibarium layer2 blockchain protocols continue to dominate more realms, including gaming, web3, and metaverse. These industries capitalize on improved scalability.
While the web3 idea evolves, the Shibarium takes center stage, introducing speed and cost differences to ensure mainstream acceptance.
Also, the token burn has supported SHIB’s price action. Shiba Inu burn tracker, with its Twitter account revived following the latest suspension due to lack of clarity, shows nearly 20 million coins destroyed within the past day.
L2 blockchain Shibarium bolsters Shiba Inu
As highlighted, Shiba Inu price movements benefit as Shibarium sees increasing popularity. The layer2 network aims to revolutionize the token’s ecosystem. As shown here, Shibarium represents a top-notch blockchain dedicated to inviting and scaling solutions, security, and innovation to the DeFi sector.
Shibarium is an Ethereum-based L2 blockchain housed on the same crypto (Ether) that hosts Shiba ecosystem coins, including Bone ShibaSwap, LEASH, and SHIB.
Shiba Inu price
Shiba Inu gained over 10% since 30 June to its current price of around $0.00000774. The meme coin seems poised for continued upticks, but bulls should renew their buying momentum to overcome crucial hurdles for lucrative near-term crypto prices.
The post Shiba Inu network flourishes as L2 blockchains see increased popularity appeared first on Invezz.
