- CoinMarketCap and CoinGecko price trackers list Shibarium on the chain roster.
- New SHIB wallet addresses spike 324% in a month as SHIB retests $0.00001.
- SHIB Army awaits Shibarium’s auto-burn launch in a quest to cut SHIB supply.
The two most popular cryptocurrency price aggregators, CoinMarketCap and CoinGecko, have simultaneously integrated Shiba Inu’s (SHIB) Layer-2 blockchain onto their platforms. Shibarium L2 reclaimed a $1 million milestone in total value locked (TVL) on February 16, 2024, as SHIB devs are getting ready to launch several new projects to fulfill utility expansion plans.
Along with an automated SHIB burning system, Shibarium Layer-2 is set to welcome K9 Finance, a liquid staking platform for BONE custodians on Shibarium. Bone ShibaSwap (BONE) is the official gas fee token of Shibarium, which will open doors for the inaugural Liquid Staking Derivatives (LSD) protocol on Shibarium.
The first to announce the news, K9 Finance’s team is also launching their own $KNINE token on Shibarium in March 2024. The new liquid staking dApp aims to increase Shibarium’s liquidity via the BONE/KNINE swapping pair, enabling the tokens to be staked on multiple smart contracts at the same time.
Why Is SHIB’s Price Movement Reluctant?
Shiba Inu is approaching the historically decisive barrier of $0.00001. However, this price range also depicts a hefty resistance wall, with many crypto investors breaking even at $0.00000950 to $0.0000140.
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With 36% of SHIB custodians in profit at the current price, the multi-trillion SHIB coin resistance wall could be broken down with the assistance of fresh crypto holders, as new crypto wallet addresses soared 324% in the last 30 days, according to on-chain data by IntoTheBlock.
Tacking on the daily heights of $0.00000987, SHIB’s price movement sustained a slightly bullish momentum throughout the day, adding up to the 5% weekly gains. At press time, the #19 seated canine coin SHIB is changing hands at $0.000009788, according to CoinGecko. Shiba Inu’s BONE also recorded slight gains to hover above the $0.60 support cluster.
On The Flipside
- Many SHIB Army members on Twitter and Reddit are infuriated about Shiba Inu’s (SHIB) automatic burn system not being released yet, which is expected to reduce SHIB’s supply heavily.
- The automatic SHIB burn system is due for launch at the end of January 2024, while some dApps on Shibarium employ an automatic SHIB burn tax on every transaction.
Why This Matters
The developers of Shibarium previously declared plans to onboard 1,000 new projects onto Shibarium L2 mainnet while listing by CoinGecko and CoinMarketCap publicly recognizes Shiba Inu’s chain as a prominent player in the DeFi space.
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