Shiba Inu’s Shibarium Layer Keeps Expanding

Shiba Inu’s (SHIB) performance in May has been underwhelming to many crypto traders. The market rally of March boosted demand for meme coins like Shiba Inu (SHIB). This caused a spectacular rally that took Shiba Inu’s (SHIB) market capitalization to $17 billion in late March.

SHIB traded at $0.00002867 at the start of April. It dropped by 26.15% to $0.00002117 two weeks later. SHIB fell by 6.99% to $0.00002265 at the start of May. It then rose by 11.52% to $0.00002526 two weeks later.

Shiba Inu’s (SHIB) DeFi services have been rising since the official launch of its Shibarium layer in 2023. In May 2024, Shiba Inu (SHIB) announced that Shibarium had completed its first-ever hard fork.

Furthermore, liquid staking services will soon go live on Shibarium thanks to a partnership with K9 Finance. Analysts say increased DeFi activity in Shiba Inu’s ecosystem could push SHIB’s value up by 40.30% to $0.00003544.