The Popular Meme-Inspired Cryptocurrency Shiba Inu (SHIB) is riding the bull market wave. Not only is SHIB seeing gains on its price chart with quotes up 17% this month, it’s only been five days in December, but it has already reached an all-time high for Shibarium.
For those who don’t know, there is a full-fledged layer 2 blockchain built for Shiba Inu by a team of independent developers, and it recently crossed the milestone of $10.47 million in total value locked. Shibarium’s momentum has continued to grow, with a particular acceleration born on November 4, when each blockchain’s leading metric soared 80.8% in just one month from that day.
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An overview shows even more inspiring growth as, since the end of September, Shibarium has multiplied its total value locked by 851%, starting from just $1.23 million. The robust performance of Shiba Inu blockchain is also reflected in its on-chain performance. In one month, the number of accounts increased by more than 13.27% to reach 208,530. The number of transactions increased by another 29.79%, reaching 603.74 million.
Digging deeper into Shibarium’s TVL, it became known that the most dominant application on the blockchain is ShibaSwap, with $4.02 million, according to ChallengeLlama. Over the past month, this figure has increased by 94.1%, also making it one of the fastest growing apps on the market. Shibarium.
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Currently, Shibarium is the 105th largest chain, so there are no limits. With the Shiba Inu token having a market capitalization of $18.49 billion, making it the 12th largest cryptocurrency, there is still plenty of “gunpowder” to inject into the wider world. SHIB ecosystem.