Shiba
Inu
(SHIB),
the
popular
meme-inspired
cryptocurrency,
has
experienced
a
surge
in
price,
soaring
by
more
than
8%
as
the
Shiba
Inu
ecosystem
celebrates
a
major
milestone.

TLDR

The
transition
of
ShibaSwap
from
Ethereum
to
Shibarium
marks
an
important
development
for
the
Shiba
Inu
ecosystem.

With
the
DEX
now
operating
on
Shibarium,
project
innovators
have
a
ready
marketplace
to
host
their
projects,
potentially
encouraging
an
influx
of
developers
into
the
ecosystem.
This
move
is
expected
to
further
strengthen
the
already
vibrant
Shiba
Inu
community.

 

????

#ShibArmy
the
wait
is
finally
over
—
ShibaSwap
is
coming
home
to
Shibarium!

ShibaSwap
is
more
than
just
an
exchange;
it’s
where
our
community’s
spirit
meets
innovation,
where
your
community
tokens
not
only
exist
but
thrive

pic.twitter.com/fVGEZjynIJ

—
Shib
(@Shibtoken)

May
15,
2024

One
of
the
key
benefits
of
ShibaSwap’s
migration
to
Shibarium
is
the
potential
impact
on
the
total
transaction
count
on
the
L2
platform.

The
daily
transaction
count
on
Shibarium
has
flattened
out
since
at
least
April
20,
but
with
more
swaps
taking
place
on
the
platform,
this
metric
is
likely
to
revive.

An
increase
in
transactions
could
also
contribute
to
the
growth
in
the
total
number
of
SHIB
tokens
sent
to
burn
addresses,
effectively
reducing
the
token’s
circulating
supply.

The
Shiba
Inu
price
revival
can
also
be
attributed
to
the
realization
of
the
impact
of
the
DEX
on
staking
within
the
Shibarium
ecosystem.

 

As
more
users
engage
in
staking
and
provide
liquidity,
the
circulating
supply
of
SHIB
may
be
better
controlled,
potentially
influencing
the
token’s
price
valuation
over
time.

The
ShibaSwap
upgrade
brings
a
host
of
new
features
to
the
platform,
including
a
new
dashboard,
improved
user
experience,
discovery
charts
for
new
and
trending
tokens,
and
a
streamlined
onboarding
process
for
new
tokens
on
the
DEX.

These
enhancements
are
expected
to
attract
more
users
and
developers
to
the
Shiba
Inu
ecosystem,
further
driving
its
growth
and
adoption.

Currently,
the
price
of
Shiba
Inu
stands
at
$0.00002549,
having
surpassed
the
$0.000023
resistance
point
that
had
been
a
crucial
barrier
for
over
a
month.

 

With
this
breakthrough,
the
token
may
continue
its
upward
trajectory
and
potentially
reclaim
the
$0.00003
mark.
While
the
token’s
future
outlook
is
supported
by
a
confluence
of
fundamentals,
the
launch
of
ShibaSwap
on
Shibarium
is
likely
to
play
a
significant
role
in
shaping
its
trajectory.

Go to Source
Author: Oliver Dale

---

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