- The Shibarium RPC nodes help developers connect their DeFi project with the Shibarium mainnet seamlessly.
- More than 88 percent of Shiba Inu holders are in losses amid bearish crypto sentiments.
The second largest meme Shiba Inu (SHIB) has continued to fine-tune its recent mainnet launch of the Shibarium Layer Two (L2) network. Furthermore, the Shibarium network promises to help mainstream adoption of Shiba Inu, not only as a meme coin but as a utility-based digital asset.
In the latest development, NOWNodes helped deploy the Shibarium mainnet RPC Full Node. The Shibarium RPC Full Node is a development artwork that allows developers and crypto enterprises to create and build on the Shibarium Mainnet with zero limits.
To start with, NOWNodes announced that it has integrated the Shibarium mainnet with the Telegram-backed crypto wallet Tangem. Meanwhile, more decentralized and centralized exchanges are expected to integrate with the Shibarium Mainnet in the coming months. Moreover, the Shibarmy has grown into a strong and vibrant community of developers, investors, and traders that every project would like to be associated with.
Meet @ShibariumNet RPC Full Node – deployed and delivered by NOWNodes 🐶
We're rocketing beyond and over with our highly anticipated development tool!
Let's check what this is all about and how to connect to #Shibarium RPC via NOWNodes 👀https://t.co/saALq0hvKs pic.twitter.com/GfMi66GzWC
— NOWNodes ⛓️ (@NOWNodes) September 12, 2023
Crypto developers are promised several advantages of choosing the NOWNodes RPC endpoints to enter the Shib network. Among them is unparalleled reliability with 24/7 professional support.
Closer Look at Shiba Inu’s Growth Prospects Under Sibarium Network
The Shiba Inu ecosystem takes pride in over 1.33 million on-chain holders with more registered through the BONE and LEASH tokens. As of reporting time, Shiba Inu has a fully diluted valuation of about $7.2 billion and a market capitalization of approximately $4.2 billion. The ecosystem is slated to grow further in the coming years amid the mainstream adoption of blockchain technology and digital assets fueled by institutional money flowing despite the bear market effects.
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The launch of the Shibarium network is a huge success for the Shiba Inu holders as it will help accelerate the burn rate. Currently, about 41.03 percent of the total Shiba Inu in circulating supply, worth approximately $3 billion, has been sent to the burn address, thus increasing the value of existing tokens.
According to a recent on-chain report from Intotheblock, only 11 percent of Shina Inu holders are in profit, meaning most of the SHIB investors entered the market in the past two years. On the other hand, Shiba Inu’s Doge Killer (LEASH) has seen about 19 percent of its holders in profit. Interestingly, approximately 63 percent of Shiba Inu addresses that are perceived as whales hold about 613.77 trillion coins.
The revelation comes amid bearish crypto sentiments that have pushed Shiba Inu’s price beyond last year’s lows. According to the latest crypto market data provided by Tradingview and Coingecko, Shiba Inu traded around $0.00000727 on Wednesday, down about 31 percent in the past month.
Meanwhile, more than 27.11 million BONE tokens have been staked on the Shibarium mainnet by 12 validators.