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Investing.com – Cryptocurrency soared on Wednesday morning, with SHIB posting gains of more than 17% in 24 hours and around 35% in one week. The rise started around 1am CET, when the Shiba Inu was worth $0.00001, and has so far resulted in $0.00001252, a gain of more than 25% in less than 3 hours.
About the reasons for the increase, they are for the moment unclear, but we can however note that it is not a question of a general upward movement on cryptocurrencies, but indeed of a specific context to the SHIB. This article will be updated when the motivations for this bullish acceleration are known.
Note, however, that the data analysis firm Nansen reports intense activity on the decentralized and centralized markets for the Shiba Inu. Nansen reports that nearly $1.1 billion worth of SHIB changed hands between Jan. 17 and Jan. 18.
As for the most recent important information about the Shiba Inu, it should be noted that the project indicated in a blog post last Sunday that the beta version of the layer 2 scaling protocol offered by the SHIB ecosystem is “about to be launched”.
Called Shibarium, this protocol aims to provide scalability, faster transaction times, lower gas fees, and an expanded development framework.
Shibarium also aims to make it easier for developers to create decentralized applications (DApps) on the Shiba Inu blockchain.
The Shibarium developers previously announced that Bone ShibaSwap (BONE) will be the official digital asset used to run the blockchain, and that every transaction on it will burn SHIB tokens.
Finally, note that the Shiba Inu (SHIB) cryptocurrency has now posted a gain of more than 55% since the beginning of 2023.
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