Shiba Inu, a dog-based meme cryptocurrency, not too long ago echoed a way of bustle throughout the cryptocurrency panorama. With its value showcasing an upward momentum whereas writing, coupled with Shiba Inu L2 Shibarium’s scaling of latest heights, the meme coin curated waves all through the broader cryptocurrency market in the present day.
Following substantial value corrections witnessed by Shiba Inu not too long ago, this leap promptly nabbed important investor consideration. Meanwhile, the Shibarium TVL’s colossal rise seems to be primarily attributed to WoofSwap’s not too long ago unveiled DAMN token.
Shibarium TVL Hits Zenith
According to the insights revealed by DeFi Llama, Shibarium’s TVL hit $3.38 million in the present day, coming as a monumental milestone for the Shiba crypto group. Following a plethora of latest options launched to Shibarium, together with the launch of KNINE and DAMN tokens, this sudden leap within the Shiba Inu L2’s TVL underscored the group’s profitable efforts to jack up SHIB’s tokenomics.
TVL will get up to date! #Shibarium$DAMN 🚀🚀🚀https://t.co/I6Tfr8VwUx pic.twitter.com/1CTrjNLlbe
— WOOF | ve33 DEX on Shibarium🎀 (@woofswap) March 23, 2024
The DAMN token was launched to Shibarium by WoofSwap, a DEX constructed atop the L2. Whereas, the KNINE token, a liquid staking derivatives token, births from Shiba Inu’s partnership with K9 Finance.
Additionally, aligning with the revelation of the DAMN token, LUCIE, Shiba Inu’s advertising and marketing lead, not too long ago spotlighted very important support the meme coin’s ecosystem acquired from WoofSwap. Delving into this, Lucie careworn that WoofSwap’s noteworthy help in spiking Shibarium transactions and Shib burn comes pivotal for the meme coin’s ecosystem.
Meanwhile, the rise in TVL, as talked about above, showcased a major improve within the quantity of cryptocurrency belongings locked throughout the Shibarium community. This highlighted rising investor curiosity and participation in Shibarium’s decentralized finance (DeFi) protocols and purposes.
Further, SHIB mirrored this spike in investor curiosity, gaining an upward momentum as of press time.
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Shiba Inu Price Soars
As of writing, the Shiba Inu coin famous a considerable 3.64% upswing prior to now 24 hours and is at the moment buying and selling at $0.00002762. Following a large hunch in current days, this leap garnered notable optimism.
A exceptional surge famous within the SHIB burn rate over the past 24 hours, roughly 250%, seems to be primarily propelling this value pump. Additionally, Shibarium TVL’s burgeoning exercise provides a layer of optimism to SHIB.
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