Shiba Inu Soars in Crypto Market as Shibarium L2 Solution Nears Launch
• Shiba Inu has been making headlines as the token has been climbing in price along with other altcoins.
• Nansen, a crypto market research firm, named Shiba Inu the most popular starter crypto for newly funded wallets last week.
• Shibarium, the ecosystem’s L2 solution, is close to hitting the open market with its built-in features that would give the token more utility.
Shiba Inu has been making waves in the cryptocurrency market as the price of the token continues to climb. This surge in popularity has been reflected in a report by Nansen, a crypto market research firm, which declared Shiba Inu the most popular starter crypto for newly funded wallets last week.
The report revealed that Nansen tracked $56 million worth of SHIB flow into 12,000 newly made wallets. This is likely due to the buzz around Shibarium, the ecosystem’s L2 solution, which is close to hitting the open market. Shibarium will be equipped with features that will give the token more utility and further improve the platform.
One of the major developments that helped Shiba Inu gain traction was the entry of the token into the world of GameFi with Shiba Eternity. The game, which was launched back in October 2022, has yet to launch its blockchain version but the beta version of the game has been used to introduce the community to how the upgrade’s features would work.
Shibarium is currently in its finishing touches and is expected to become available soon. The L2 solution is expected to provide the token with more utility and increase the value of the token. With the increased popularity and utility of the token, Shiba Inu is set to become an even bigger player in the crypto market, further cementing its position as an alternative to traditional investments.