shibarium, a powerful layer 2 network in the ecosystem Shiba Inu (SHIB) recently reached an impressive new milestone. The Shiba Inu Tier 2 solution has reached a milestone related to a new all-time high in its total value locked (TVL). This metric skyrocketed to an impressive $3,87 million.
The recent surge was driven by the launch of the Sol Killer meme cryptocurrency (DAMN) on WoofSwap, a decentralized exchange operating on Shibarium. On March 18, the memecoin DAMN was introduced to the market, driving a price increase of more than 523% in just three days.
This recent event is quite significant, considering that the Shibarium network's TVL has fallen below US$1 million for most of this year.
Several points coincided as a strong catalyst for the accelerated growth of the TVL of the layer 2 network in the Shiba Inu ecosystem, such as the great debut of the DAMN cryptocurrency and the broader recovery of the cryptocurrency market.
The DAMN memecoin appears amid great competition in the industry, attracting great attention not only from the Shiba Inu community, but also from the crypto community in general. One of the important points that differentiates the new memecoin is its feature that allows the burning of Shibarium's native gas token, Bone Shibaswap.
At the time of publication, the Shiba Inu price (SHIB) was quoted at US$0,00002958 with an increase of 5.7% in the last 24 hours. During this period, the second largest meme cryptocurrency on the market had a trading volume of US$1.154.402.340. ,In its weekly development, the Shiba Inu memecoin has recorded a significant price increase, rising 8.1% in the last seven days.
Without a doubt, the month of March has been special for the cryptocurrency market, with impressive price rises for several cryptoassets amid expectations of growth and positive sentiment in the community. Memecoins, in turn, showed an upward rally, recording price explosions.
