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Seems like crypto markets are reviving as many cryptocurrencies are taking significant jumps
This week has turned out to be somewhat optimistic for cryptocurrencies across the crypto market as many of them have seen price surges recently. Popular meme currency Shiba Inu (SHIB) has also enjoyed a similar treatment where it has seen a gain of more than 50% in the last seven days, becoming one of the biggest gainers across the crypto space.
The remarkable growth of Shiba Inu resulted in enabling it to keep its position of being the largest held cryptocurrency by the top hundred Ethereum whale wallets. The second biggest meme currency by market cap has been holding the position for quite some time but as per new statistics, now the top whales hold SHIB tokens worth $594,171,595 that account for about 14.48% of their overall holdings. Currently, Shiba Inu’s native token SHIB is trading at around $0.000001176 at the time of writing.
As per the several data reports, Shiba Inu (SHIB) has also increased in terms of profitability, rising by about 22%. On top of that, the holder count for holding Shiba Inu tokens has also risen to about 1,188,659 currently showcasing significant growth this month. Further, there are also some updates on Shibarium where it has been seen that Shibarium Private Alpha TestNet went quite effectively for several last weeks and now it is currently going through the development regarding the preparation for the deployment of public Beta TestNet.
Shibarium would be the wallet application that will facilitate the two-way transfers of assets between Layer 1 and Layer 2 chains. Further, it would also allow the staking or delegating of the assets where in its later editions, it would see integration with Shibaswap. These main tools in the Shiba Inu ecosystem are highly anticipated and are now under development actively.
Shibarium Public Beta TestNet launch is scheduled for the third quarter of this year and would include enabling complete interaction on the network for its users that would also include the validation process. Apart from this, there was also attention towards the listing of Shiba Inu ecosystem tokens on Switchere’s platform which is anticipated to list SHIB, BONE, and LEASH tokens.
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With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
