In what comes as a bid to boost optimism within the cryptocurrency realm, Shiba Inu, a meme coin functioning atop the Ethereum blockchain, embarked upon remarkable cryptographic ventures recently, as spotlighted by its prominent community members on X. Amid this flurry of cryptographic advancements, the meme coin’s price soared notably as of today, piquing significant investor attention.

Following SHIB’s price correction witnessed over the past few days, today’s jump rode a wave of bullishness among investors, coming in tandem with the broader uptrend in the crypto market. Further cushioned by the meme coin’s recent cryptographic ventures, as mentioned above, Shiba Inu’s breakthroughs curated ripples across the cryptocurrency landscape, fueling market optimism for the second-most popular meme coin.

LUCIE & Rgnar Shib Draw Attention To SHIB’s Developmental Endeavors

Following numerous posts shared by renowned community members of the meme coin, a tidal wave of market optimism for Shiba Inu was birthed. The posts primarily spotlighted Shiba Inu’s remarkable achievements orbiting its tokenomics and an upcoming event to further shake things up within the token’s ecosystem.

Aligning with this, in a post shared by Ragnar Shib, a prominent member of Shiba Inu’s team, attention was drawn to the staggering 266% surge in the total number of addresses holding SHIB in less than a year. This marked pivotal for SHIB, emerging despite market flux in recent times, while in another post, the member highlighted Shiba Inu’s bullish stance across the broader crypto market, scoping in on the community’s burn mechanism and recent developmental integrations into Shibarium.

Whereas, LUCIE, Shiba Inu’s marketing lead, highlighted an ‘easter egg’ event within Shibarium, hosted by one of the leading marketplaces on the L2, Mantra Protocol. Offering users a chance to claim NFTs for a mere 1 DAMN token, this event comes as a measure to enhance user engagement, not just with Mantra and DAMN, but also with a plethora of NFT collections within the Shibarium ecosystem.

Dive into the Hunt: Shibarium’s Biggest Marketplace Announces ‘Easter Egg’ Event – Daily Shib https://t.co/sN2TxBJZmF

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) March 25, 2024

Meanwhile, the SHIB token mirrored optimism curated with the abovementioned developments, trading in the green as of press time.

Also Read: Memecoins Rebound 13% Following Uphill Crypto Momentum

Shiba Inu Price Jumps

As of writing, the Shiba Inu token’s price noted a substantial 3.81% upswing in the past 24 hours and is currently trading at $0.00002893. This surge in the meme-based token comes riding the wave of market optimism birthed by the abovementioned cryptographic chronicles.

Intriguingly, the Shiba crypto community also spotlighted a poll conducted by WazirX, a renowned cryptocurrency exchange, concluding SHIB as the meme coin with the largest community on X, adding to Shiba Inu’s optimistic ripple effect in the market.

Also Read: SWIFT Aims to Unify CBDCs with Traditional Banking

The post Shiba Inu Price Soars As Community Members Spotlight Groundbreaking Advancements appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am