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Shiba Inu, a meme coin that runs on the Ethereum blockchain, recently embarked on remarkable cryptographic ventures, as highlighted by prominent community members on X, in an effort to boost optimism in the cryptocurrency realm.
Amidst this flurry of cryptographic advancements, the meme coin's price has skyrocketed today, attracting significant investor interest.
Following SHIB's price correction over the last few days, today's jump was fueled by investor optimism and coincided with the broader uptrend in the crypto market. Shiba Inu's breakthroughs have created ripples across the cryptocurrency landscape, fueling market optimism for the second-most popular meme coin.
Shiba Inu Community Sparks Market Optimism with Tokenomics Milestones and Events
Following numerous posts by well-known meme coin community members, a tidal wave of market optimism for Shiba Inu emerged. The posts primarily focused on Shiba Inu's remarkable achievements in tokenomics and an upcoming event that will further shake things up within the token ecosystem, Coingape reported.
Aligning with this, Ragnar Shib, a prominent Shiba Inu team member, shared a post highlighting the staggering 266% increase in the total number of addresses holding SHIB in less than a year. This was a watershed moment for SHIB, emerging despite recent market volatility. In another post, the member highlighted Shiba Inu's bullish stance on the broader crypto market, focusing on the community's burn mechanism and recent developmental integrations into Shibarium.
LUCIE, Shiba Inu's marketing manager, highlighted an "easter egg" event within Shibarium hosted by one of the leading marketplaces on the L2, Mantra Protocol. This event, which allows users to claim NFTs for just one DAMN token, is intended to increase user engagement not only with Mantra and DAMN but also with a variety of NFT collections within the Shibarium ecosystem.
Meanwhile, the SHIB token reflected optimism fueled by the developments mentioned above, trading in the green as of press time.
Shiba Inu Token Sees 3.81% Price Surge Amid Market Optimism and Community Validation
The Shiba Inu token's price has increased by 3.81% in the last 24 hours and is now trading at $0.00002893. This increase in the meme-based token follows the wave of market optimism sparked by the aforementioned cryptographic chronicles.
Intriguingly, the Shiba crypto community also highlighted a poll conducted by WazirX, a well-known cryptocurrency exchange. The poll concluded that SHIB is the meme coin with the largest community on X, adding to Shiba Inu's positive ripple effect in the market.
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