In 2024, the Shiba Inu ecosystem witnessed significant advancements and milestones across various projects and initiatives. In a recent post titled “2024 Recap” Shiba Inu marketing expert Lucie spotlighted the significant advancements that have taken place within the SHIB ecosystem this year.
Shiba Inu Significant Strides In The Past Year
At the forefront of the list is the improvement of the Shibarium Layer-2 scaling solution. The development team within the Shiba Inu ecosystem implemented substantial upgrades to the L2 solution, boosting its effectiveness and scalability.
These upgrades were revealed during the Shibarium hard fork that took place in May. After the hard fork, Shiba Inu ecosystem is now eyeing almost 420 million transactions since its launch in 2023 per data from Shibariumscan.
According to Lucie, the second crucial development introduced in 2024 is the Shibdentity initiative. This project marks a significant step towards establishing a new era of digital identity within the Shiba community. Shiba Inu took significant steps towards reaching this objective, such as partnering with the well-known DNS provider D3 Global.
Furthermore, Lucie emphasized the introduction of SHEboshi (SHEB) as a pivotal development unveiled this year. SHEB added diversity and creativity to the digital asset space. The launch of the Sheboshis collection, consisting of 20,000 DN404 on the Ethereum network, has brought new opportunities and excitement to the Shiba ecosystem.
The upcoming privacy-focused L3 blockchain from Shiba Inu is the fourth project on the list. This initiative aims to address the growing need for enhanced privacy and security in blockchain technology. The announcement of a $12 million funding round for the development of a privacy-focused Layer-3 (L3) blockchain demonstrates the ecosystem’s commitment to innovation and privacy-centric solutions.
Finally, Lucie brought up the shift of Shiba Inu’s decentralized exchange, ShibaSwap to Shibarium last month. It marked a significant milestone, expanding the ecosystem’s reach and functionality. It also enhances the usability and accessibility of decentralized exchange services within the Shiba ecosystem.
Brief Updates On SHIB Price Prospects
Shiba Inu (SHIB), the popular memecoin in the crypto world, has grabbed public attention due to its historic bearish June trend. This concern has grown even stronger as price dipped below the important 50 EMA support level. Despite the gloom this trend presented earlier, a bullish recovery is permeating the market today.
At time price, Shiba Inu is trading at $0.000026, up by 8.40% in the last 24 hours.
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