Shibarium, the Layer 2 solution for the Shiba Inu cryptocurrency, is experiencing a significant uptick in transactions, closing in on the 400 million mark. This increase is in sync with the anticipation of new upgrades for the Shiba Inu ecosystem, including SHEboshi, Shiboshi utility, and KNINE offerings. The swelling transaction count comes hand in hand with the Shibarium network’s Total Value Locked (TVL), which is on the verge of reaching $1 million, as reported by DeFiLlama.
Shibarium’s Network Expansion
The Shiba Inu community is committed to growing its token ecosystem, with new features aimed at boosting usability and the overall user experience. These enhancements are driving the network’s transactional activity and generating excitement among users and investors in the cryptocurrency space.
SHEboshi’s Debut Boosts Investor Enthusiasm
The cryptocurrency exchange CoinW has boosted community optimism by announcing the listing of SHEboshi, Shibarium’s new token, marking its first foray into exchange listings. This move has pushed Shibarium’s TVL to $970,463, with a remarkable count of 374.03 million transactions and a daily volume of $2.78 million. The Shiba Inu community eagerly anticipates additional exchange listings for SHEboshi, which could enhance investor access and liquidity.
SHEboshi’s launch is a pivotal event for Shiba Inu’s supporters, as the token merges aspects of the ERC-20 and ERC-721 standards on the Ethereum blockchain, standing as a distinctive DN404 token. While initial launch activities for SHEboshi were paused due to temporary suspension of deposits and withdrawals, trading for the SHEB token has begun, signifying a leap forward in its market presence.
The swift incorporation of SHEboshi into cryptocurrency exchanges underscores the mounting interest in Shiba Inu’s innovative offerings and its strengthening foothold in the digital currency market.