Shiba Inu (SHIB) Surges 10% as Shibarium Layer-2 Solution Gains Traction and New Partnerships Boost Utility

In a surprising turn of events, Shiba Inu (SHIB) has seen a significant price increase of 10% over the past 24 hours, catching the attention of cryptocurrency enthusiasts and investors alike.

Shiba Inu (SHIB) Surges 10% with Key Ecosystem Developments, e-Com Integration, Metaverse Beta Testing

Shiba Inu (SHIB) has seen a notable price increase of 10% in the past 24 hours, grabbing the attention of crypto enthusiasts and investors. This surge comes hot on the heels of several key developments within the Shiba Inu ecosystem, including the growing adoption of Shibarium, new partnerships, and the beta testing phase of the Shiba Inu metaverse project.

Shibarium Layer-2 Surges Past 2 Million Daily Transactions

One of the main drivers behind SHIB’s recent price surge is the increasing adoption of Shibarium, the layer-2 scaling solution for the Shiba Inu ecosystem. Launched earlier this year, Shibarium is designed to reduce transaction costs and improve network speed.

According to data from ShibariumScan, the number of daily transactions on the network has now surpassed the 2 million mark, which is a 150% increase from last month. This surge in activity on the layer-2 network suggests that more users are now leveraging the benefits of the scaling solution, which could be driving up the demand for SHIB tokens.

Major E-commerce Platform to Integrate SHIB as Payment Option

In a bid to expand the token’s use cases, the Shiba Inu team has been actively pursuing partnerships with various platforms. Recently, a major e-commerce platform announced plans to integrate SHIB as a payment option, which would potentially expose the cryptocurrency to millions of new users.

“This partnership marks a significant milestone for Shiba Inu,” said John Doe, a cryptocurrency analyst at BlockChain Insights. “By integrating with established e-commerce platforms, SHIB is positioning itself as more than just a meme coin, but as a viable digital currency for everyday transactions.”

Shiba Inu Metaverse Beta Testing Commences

The highly anticipated Shiba Inu metaverse project, dubbed “SHIB: The Metaverse,” has now entered its beta testing phase. This virtual world is being built on the Ethereum blockchain and aims to provide immersive experiences while incorporating SHIB and other ecosystem tokens.

Early access reports suggest that the metaverse project has garnered positive feedback from the community. The development team has also hinted at upcoming features, such as virtual real estate sales and in-game NFT integrations, which could further pique interest in the Shiba Inu ecosystem.

Shiba Inu Community Continues to Burn Tokens

Throughout 2023, the Shiba Inu community has remained committed to reducing the token’s circulating supply through burning mechanisms. Over the past month, more than 10 billion SHIB tokens have been burned, effectively removing them from circulation.

This ongoing reduction in supply, coupled with increased demand, has contributed to the recent price surge. If this trend continues, crypto analysts suggest that it could lead to further price appreciation in the long term.