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Shiba Inu Promising Developments Point Toward Sustained Price Growth

  • November 4, 2023
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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The layer-2 network Shibarium continues to make great strides, as recent happenings in the ecosystem suggest. These developments have also further reignited the bullish sentiments among many in the Shiba Inu community as they predict an upward momentum in the token’s trajectory. 

Shibarium Standing Strong

Shibarium has continued to make great strides since relaunching after its botched launch. The network recently launched its name service, which provides an easier and more seamless way for users on the network to transact. 

The network also seems to be generating a lot of buzz and utility as the node provider NOW Nodes recently announced that Shibarium was one of the best-performing networks in their ecosystem in recent times. 

According to them, they have processed over 66 million requests to Shibarium since launching shared access to the Shibarium RPC full nodes in September. Meanwhile, they also highlighted plans to bring Shibarium to “big exchanges and wallets.” 

As part of these plans, the next step includes finding liquidity providers that will help these exchanges and wallets “fully integrate Shibarium.” One such exchange could be the Australian-based GroveX, which announced that they were in the process of integrating the network into their platform. 

Meanwhile, on-chain activity on the network continues to rise. According to data from the network explorer Shibariumscan, the network is close to hitting the four million mark in terms of transactions processed. Shibarium is also currently seeing an average of 14,000 daily transactions. 

From all indication, there is no doubt that the network’s team are putting in “true work,” as Shiba Inu’s lead developer, Shytoshi Kusama, once pinpointed it as what was needed if the community members were going to see a significant increase in SHIB’s price. 

Atomic Wallet Reportedly Adds Support For Shibarium 

In a post shared on her X (formerly Twitter) platform, Shiba Inu’s marketing lead, Lucie mentioned that some token holders in the Shibarium community informed her that the decentralized wallet Atomic Wallet had allegedly added Shibarium to their platform. 

However, this move is yet to be confirmed as the decentralized wallet hasn’t released any statement about such integration neither does Shibarium seem supported on the wallet as the time of writing.

Back in January this year, Atomic had mentioned that they were going to support Shibarium upon the layer 2 network launching, but nothing has been said to that effect since then.

If eventually confirmed, such news will undoubtedly be bullish for the ecosystem. Such a move could see Atomic’s 5 million plus registered users get onboarded into the network and further increase the demand for the ecosystem’s utility tokens. 

Shiba Inu is currently trading at around $0.000007893, up over 2% in the last 24 hours, according to data from CoinMarketCap. 

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