{"id":29733,"date":"2024-12-19T16:32:21","date_gmt":"2024-12-19T16:32:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=29733"},"modified":"2024-12-19T16:32:21","modified_gmt":"2024-12-19T16:32:21","slug":"heres-how-shibarium-has-impacted-the-shiba-inu-ecosystem","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=29733","title":{"rendered":"Here\u2019s How Shibarium Has Impacted the Shiba Inu Ecosystem"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Shibarium has burned $1.5M worth of SHIB and enabled low-cost transactions, boosting ecosystem development.
\nDespite the protocol\u2019s advancement, SHIB dropped 25% in two weeks amid an overall decline in the meme coin sector.<\/p>\n

<\/a><\/span><\/h2>\n

Shibarium\u2019s Help<\/h2>\n

Shiba Inu\u2019s layer-2 scaling solution officially saw the light of day<\/a> in August last year. <\/span>While its ultimate goal is to foster the development of the entire SHIB ecosystem, LUCIE (a prominent <\/span>member of the meme coin\u2019s team<\/span>) recently shed more details on the matter.<\/span><\/p>\n

They <\/span>claimed<\/span><\/a> that Shibarium has already \u201cmade a big impact\u201d for Shiba Inu by destroying tokens worth over $1.5 million, thus \u201cdirectly reducing the circulating supply and adding scarcity.\u201d The protocol <\/span>embraced<\/span><\/a> the burning mechanism this summer.<\/span><\/p>\n

LUCIE added that the L2 blockchain solution has enabled low-cost transactions, \u201callowing trades for pennies\u201d and making the meme coin more accessible and practical for everyday use. Lastly, they claimed that Shibarium has built the foundation for future utilities, such as staking and governance systems, which could further strengthen the ecosystem.<\/span><\/p>\n

\u201cMost importantly, Shibarium has solidified $ SHIB\u2019s reputation as one of the strongest assets in crypto. The recognition SHIB has received, even from Forbes, wasn\u2019t achieved by social media hype<\/span>, but through<\/span> the efforts of a dedicated development team that built Shibarium and delivered real progress for the ecosystem,\u201d her statement reads.\u00a0<\/span><\/p>\n

SHIB Price Outlook<\/span><\/h2>\n

Shibarium has indeed witnessed serious progress during its relatively short existence. Data shows the network has processed over 675 million transactions, while wallet addresses recently <\/span>crossed<\/span><\/a> the 2 million milestone.\u00a0<\/span><\/p>\n

The further advancement of the protocol <\/span>is touted<\/span> as one of the <\/span>major<\/span> factors that could fuel a Shiba Inu rally. However, the self-proclaimed Dogecoin-killer has performed <\/span>quite<\/span> poorly in the past two weeks, plummeting by 25%.
\n<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Its downtrend coincides with the overall correction of the cryptocurrency market and a bloodbath that has spread across the meme coin niche. Popular assets that have charted double-digit losses in the last 24 hours include Pepe (PEPE), Bonk Inu (BONK), Floki Inu (FLOKI), Popcat (POPCAT), Peanut the Squirrel (PNUT), and many more.\u00a0<\/span><\/p>\n

Those curious to see what other factors <\/span>might<\/span> have negatively impacted SHIB in the past several days can <\/span>take a<\/span> look at our article <\/span>here<\/span><\/a>.<\/span><\/p>\n

The post Here\u2019s How Shibarium Has Impacted the Shiba Inu Ecosystem<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shibarium has burned $1.5M worth of SHIB and enabled low-cost transactions, boosting ecosystem development. Despite the protocol\u2019s advancement, SHIB dropped 25% in two weeks amid an overall decline in the meme coin sector. Shibarium\u2019s Help Shiba Inu\u2019s layer-2 scaling solution officially saw the light of day in August last year. While its ultimate goal […]<\/p>\n","protected":false},"author":0,"featured_media":29734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-29733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29733"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=29733"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/29733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/29734"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=29733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=29733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=29733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}