Shiba Inu Price Increases 8.84% Following Shibarium DappStore Launch
Shiba Inu's ecosystem is gaining traction with the launch of the Shibarium DappStore, which went live on April 25. This platform facilitates easier access to verified decentralized applications (dApps) built on the Shibarium Layer 2 solution.
DappStore Enhancements
- The DappStore aims to streamline the discovery of reliable dApps, reducing risks associated with scams.
- Users will have access to a curated list of reviewed applications, enhancing trust.
- Developers can showcase their dApps to an engaged community, increasing visibility in a competitive space.
This initiative follows Shiba Inu's Layer-2 protocol achieving over one billion transactions, bolstering its credibility.
Market Impact and Price Analysis
- The SHIB token price rose by 8.84% to $0.00001418, with a market cap of $8.32 billion.
- A significant increase in the burn rate of SHIB tokens, up by 825%, has been reported, with over 26 million tokens removed from circulation.
- Since inception, 410.7 trillion SHIB tokens have been burned, potentially impacting supply and price dynamics.