Shiba

Shiba Inu

Coin

Shiba Inu layer 2 scaling solution, <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shibarium-transaction-activity-spike-amid-market-growth/" rel="nofollow noopener" target="_blank">Shibarium</a>, has broken past previous records by reaching an unprecedented <a href="https://www.newsbtc.com/shiba-inu/shibarium-growing-rapidly/#:~:text=Since%20Shibarium%20launched%20its%20mainnet,interest%20in%20the%20new%20chain." rel="nofollow noopener" target="_blank">Total Value Locked (TVL)</a>, marking a new all-time high for the network.&nbsp; 
<h2 id="shibarium-tvl-hits-new-milestone">Shibarium TVL Hits New Milestone</h2> 
<a href="https://bitcoinist.com/shiba-inu-dogecoin-shib-excitement/">Shiba Inu</a>, a meme coin originally created in jest, has been rapidly evolving into a robust ecosystem, with the development and success of its <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-ecosystem-soars-shibarium-hits-crucial-milestone/" rel="nofollow noopener" target="_blank">Shibarium blockchain</a> further solidifying its position in the crypto space. Recently, Shibarium has been witnessing remarkable growth, achieving a <a href="https://www.newsbtc.com/shiba-inu/shibarium-rocket-shiba-inu/" rel="nofollow noopener" target="_blank">great milestone</a> by hitting a new record in TVL. 
According to data <a href="https://defillama.com/chain/Shibarium?tvl=true&amp;derivatives=false&amp;aggregators=true" rel="nofollow noopener" target="_blank">released</a> by DefiLama, a crypto information and research platform, on Tuesday, March 5, the TVL on the <a href="https://www.newsbtc.com/all/shibarium-on-the-verge-of-momentous-milestone-will-this-trigger-a-price-rally/" rel="nofollow noopener" target="_blank">Shibarium network</a> surged to a new record high of about $2.25 million. This achievement has been attributed to the <a href="https://www.newsbtc.com/news/shibarium-shatters-records-2-million-transactions-in-a-day-after-major-exchange-embraces-shiba-inu-l2/" rel="nofollow noopener" target="_blank">surging demand and attention</a> to the innovative project, along with an increased adoption resulting in capital injection into the Shibarium network. 
Currently, Shibarium’s TVL spike represents more than a 60% increase in its previous record of 15% in 2023. Additionally, following Shibarium’s surge to $2.25 million, the network subsequently <a href="https://bitcoinist.com/shibarium-tvl-plunge-what-lies-ahead/">experienced a significant decline</a>, pushing its TVL below the $2 million threshold, to settle at $1.79 million.&nbsp; 
Shibarium’s rise in TVL to new all-time highs stands as a remarkable achievement, driven by the network’s soaring demand and robust community. Additionally, the <a href="https://bitcoinist.com/shiba-inu-adoption-explodes-20x-shib-dethrone-doge/">adoption rate</a> of the Shibarium network has been rapidly increasing, with the network <a href="https://x.com/cryptokingkeyur/status/1765326927940710771?s=46" rel="nofollow" target="_blank">recording</a> over $1.3 million active <a href="https://www.newsbtc.com/shiba-inu/shibarium-activity-shib-burn-rate-bullish-signal-for-shiba-inu/" rel="nofollow noopener" target="_blank">wallet addresses</a>.&nbsp; 
The layer 2 blockchain has also documented a significant amount of transactions, <a href="https://www.shibariumscan.io/" rel="nofollow noopener" target="_blank">achieving</a> a total of more than 400 million transactions across 1.36 million addresses. These developments underscore the expanding interest and potential of Shibarium, solidifying its position as a dynamic network in the crypto space.&nbsp; 
<h2 id="shib-to-lead-meme-coin-season">SHIB To Lead Meme Coin Season</h2> 
The crypto space has been recently <a href="https://www.newsbtc.com/news/why-shiba-inu-pepe-dogecoin-are-far-from-done/" rel="nofollow noopener" target="_blank">dominated by the success of meme coins</a>, with SHIB standing among the leading cryptocurrencies experiencing mega gains in the market. SHIB’s unexpected rise effectively reflects the underlying fascination of <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-memecoins-3000-spike-volume-rally/" rel="nofollow noopener" target="_blank">meme coins</a> as investors are drawn to these relatively low-value cryptocurrencies, attracted by the prospects of generating sbstantial profits.&nbsp; 
Presently, the broader cryptocurrency community seems to <a href="https://x.com/theelitecrypto/status/1764929456668307572?s=46" rel="nofollow" target="_blank">believe</a> that the <a href="https://bitcoinist.com/meme-coin-season-top-meme-coins-for-10x-jump/">meme coin season</a> is imminent, anticipated to unfold as Bitcoin’s dominance diminishes. In light of this, SHIB’s potential to lead this <a href="https://bitcoinist.com/bitcoin-bull-market-huge-bubble/">bullish season</a> is marked by its impressive price movements and recent bullish rallies.&nbsp; 
On March 5, the cryptocurrency <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-price-skyrockets-heres-why/" rel="nofollow noopener" target="_blank">witnessed an over 350% surge</a> in its overall market capitalization, resulting in a 72% profitability at the time.&nbsp; 
Despite a subsequent retracement that erased a significant portion of its gains, the cryptocurrency remains on a strong bullish trajectory, holding a position among the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-blasts-into-top-10/" rel="nofollow noopener" target="_blank">top 10 cryptocurrencies with the largest market capitalization</a> in the industry.&nbsp;&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter" src="https://www.tradingview.com/x/TU6m2phk/" alt="Shiba Inu price chart from Tradingview.com (Shibarium)" width="3286" height="1530">

Shiba Inu’s Shibarium Shatters New Record Amid Elevated Demand

Table of Contents

Bitcoinist

Other articles published on Mar 12, 2024

Crypto Market Price Analysis Today: Bitcoin (BTC), Ethereum (ETH), Theta Network (THETA), FLOKI, XRP

Ripple (XRP) Concerns Continue to Drive Bitcoin (BTC) Holders to DeeStream (DST) – 60X Potential ...

Crypto News, 11 March:BTC Hits $72,600, ETH Surpasses $4,000

Dechat Achieves All-Time High of $8.50

New Cryptocurrency Bonk (BONK) and Option2Trade (O2T) Skyrocket more than 300% in 30 days

3 cryptocurrencies to turn $10 into $1,000 in March

Join our free newsletter for daily crypto updates!