Shiba Inu’s Shibarium Achieves New TVL Milestone
Shiba Inu, the meme coin that started as a joke, has transformed into a thriving ecosystem with the success of its Shibarium blockchain. Recently, Shibarium reached a significant milestone by reaching a new Total Value Locked (TVL) record.
According to data released by DefiLama, the TVL on the Shibarium network surpassed $2.25 million, marking an all-time high. This achievement can be attributed to the growing demand and attention towards the project, as well as increased adoption resulting in more capital being injected into the network.
- Shibarium’s TVL hit a new record high of about $2.25 million.
- This represents a more than 60% increase from its previous record of $1.39 million.
- However, the TVL subsequently declined and settled at $1.79 million.
The rise in TVL for Shibarium is a testament to its increasing demand and strong community support. The network has also seen a rapid increase in adoption, with over $1.3 million active wallet addresses recorded.
Additionally, Shibarium has processed over 400 million transactions across 1.36 million addresses, highlighting its potential and growing interest in the crypto space.
SHIB Leading the Meme Coin Season
Meme coins have been dominating the crypto space lately, with SHIB being one of the leading cryptocurrencies experiencing significant gains. The rise of SHIB reflects investors’ fascination with meme coins and their potential for substantial profits.
The broader cryptocurrency community believes that meme coin season is on the horizon as Bitcoin’s dominance diminishes. SHIB is poised to lead this bullish season with its impressive price movements and recent rallies.
- SHIB witnessed a more than 350% surge in market capitalization, resulting in a 72% profitability.
- Although there was a subsequent retracement, SHIB remains among the top 10 cryptocurrencies by market capitalization.
Hot Take: Shibarium TVL Reaches New All-Time High
Shiba Inu’s layer 2 scaling solution, Shibarium, has achieved a new milestone by reaching an unprecedented Total Value Locked (TVL) on the network. This record-breaking achievement highlights the growing demand and adoption of Shibarium in the crypto space.
With its thriving ecosystem and expanding community, Shiba Inu continues to make waves in the cryptocurrency industry. As meme coins gain popularity and Bitcoin’s dominance wanes, SHIB is well-positioned to lead the upcoming bullish season.
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