• Shiba Inu and Shibarium gained professional recognition with an official LinkedIn account, expanding beyond the crypto realm.

• Despite a recent hacking incident, Shibarium, the layer-2 scaling solution, has achieved significant milestones, including over 3.5 million transactions.

The Shiba Inu project and its innovative layer-2 blockchain solution, Shibarium, have again stepped into the spotlight in the dynamic cryptocurrency arena. An intriguing revelation by the Twitter user known as RagnarShib.eth has unveiled Shibarium’s official LinkedIn account. This development signifies a significant stride in their endeavor to broaden their presence in the professional landscape.

RagnarShib.eth, who also serves as the Shiba Inu Telegram Admin, has encouraged the SHIB community to follow Shibarium’s official LinkedIn page. The purpose? To stay informed about “compelling updates in the professional sphere.” It indicates that the Shiba Inu ecosystem isn’t solely confined to cryptocurrency; it’s actively cultivating a footprint in the wider professional community.

Notably, RagnarShib.eth recently encountered adversity when hackers infiltrated their account to promote a deceptive BONE token airdrop. Nevertheless, the Shiba Inu team exhibited remarkable agility, promptly addressing the issue and ensuring the profile’s security within a day. This episode highlights the challenges and vulnerabilities individuals and communities in cryptocurrency face.

Remarkable Progress of Shibarium

Shibarium, the eagerly awaited layer-2 scaling solution, made its debut at the close of August, and since then, it has achieved noteworthy milestones. The cumulative count of transactions on Shibarium has surged beyond the one-million mark, mirroring a similar milestone in total block numbers. Furthermore, wallet addresses associated with Shibarium have increased to nearly 1.3 million.

In less than two months since its launch, Shibarium continues to shatter records. The network’s total transaction volume has now surpassed an impressive 3.5 million, and the total block count has exceeded 1.2 million. This rapid expansion underscores the cryptocurrency market’s fervent demand for scalable solutions.

Market Fluctuations and Investor Sentiment

Despite these encouraging figures, certain recent metrics exhibit a downturn. Over the past 24 hours, the number of new daily transactions has experienced a 45% decline, with the count of active accounts slipping from 789 on October 16 to 584 the following day. Shibarium’s Marketing Strategist, LUCIE, suggests that the initial excitement surrounding the blockchain solution attracted “quick profit” seekers who have since moved on. This shift allows more “committed” investors to consider entering the ecosystem.

SHIB’s Destiny Hinged on Shibarium’s Evolution

Market analysts have posited that the continued evolution of Shibarium’s layer-2 scaling solution plays a central role in propelling Shiba Inu’s valuation upward. Additional factors influencing SHIB’s performance encompass widespread adoption, market sentiment, regulatory clarity, and other variables. Despite Shibarium’s commendable success, SHIB has recently grappled with recording substantial gains. 

However, the recent slump in specific metrics and SHIB’s performance challenges underscore the ongoing volatility and unpredictability inherent to the cryptocurrency marketplace. 

Shiba Inu (SHIB) Rocky Ride Continues Amidst High Expectations

In 2021, the Shiba Inu (SHIB) token became the stuff of legend, delivering an astonishing return of 43,800,000%. Such astronomical gains are unparalleled in the history of finance, turning a mere $3 investment into over a million dollars. However, the cryptocurrency’s recent plunge of 92% from its all-time high has left many investors with substantial losses.

The decline in SHIB’s value can be attributed to a combination of factors. Firstly, negative sentiment has swept the cryptocurrency industry, casting a shadow over its once-exuberant growth. Secondly, Shiba Inu has struggled to achieve widespread adoption, hindering its ascent.