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Shiba Inu, a dog-based meme cryptocurrency, lately echoed a way of bustle throughout the cryptocurrency panorama. With its worth showcasing an upward momentum whereas writing, coupled with Shiba Inu L2 Shibarium’s scaling of recent heights, the meme coin curated waves all through the broader cryptocurrency market right this moment.

Following substantial worth corrections witnessed by Shiba Inu lately, this bounce promptly nabbed vital investor consideration. Meanwhile, the Shibarium TVL’s colossal rise seems to be primarily attributed to WoofSwap’s lately unveiled DAMN token.

Shibarium TVL Hits Zenith

According to the insights revealed by DeFi Llama, Shibarium’s TVL hit $3.38 million right this moment, coming as a monumental milestone for the Shiba crypto neighborhood. Following a plethora of recent options launched to Shibarium, together with the launch of KNINE and DAMN tokens, this sudden bounce within the Shiba Inu L2’s TVL underscored the neighborhood’s profitable efforts to jack up SHIB’s tokenomics.

TVL will get up to date! #Shibarium$DAMN 🚀🚀🚀https://t.co/I6Tfr8VwUx pic.twitter.com/1CTrjNLlbe

— WOOF | ve33 DEX on Shibarium🎀 (@woofswap) March 23, 2024

The DAMN token was launched to Shibarium by WoofSwap, a DEX constructed atop the L2. Whereas, the KNINE token, a liquid staking derivatives token, births from Shiba Inu’s partnership with K9 Finance.

Additionally, aligning with the revelation of the DAMN token, LUCIE, Shiba Inu’s advertising and marketing lead, lately spotlighted very important assist the meme coin’s ecosystem acquired from WoofSwap. Delving into this, Lucie harassed that WoofSwap’s noteworthy assist in spiking Shibarium transactions and Shib burn comes pivotal for the meme coin’s ecosystem.

Meanwhile, the rise in TVL, as talked about above, showcased a big enhance within the quantity of cryptocurrency property locked throughout the Shibarium community. This highlighted rising investor curiosity and participation in Shibarium’s decentralized finance (DeFi) protocols and functions.

Further, SHIB mirrored this spike in investor curiosity, gaining an upward momentum as of press time.

Also Read: Cathie Wood Offloads $123M Coinbase & Robinhood Stocks This Week

Shiba Inu Price Soars

As of writing, the Shiba Inu coin famous a considerable 3.64% upswing up to now 24 hours and is at present buying and selling at $0.00002762. Following an enormous hunch in latest days, this bounce garnered notable optimism.

A outstanding surge famous within the SHIB burn rate over the past 24 hours, roughly 250%, seems to be primarily propelling this worth pump. Additionally, Shibarium TVL’s burgeoning exercise provides a layer of optimism to SHIB.

Also Read: Toncoin (TON) Price Drops As Spain Bans Telegram

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