Shibarium DappStore is launched, Shiba Inu price rises by 9%

Market data shows that the Ethereum-based token Shiba Inu has once again attracted attention due to new developments in its ecosystem. Reports show that the recently launched Shibarium DappStore has caused a significant response in the Shiba Inu community.

Dappstore will simplify the Shiba Inu ecosystem

LucieSHIB shared the news that the Shibarium DappStore went live on April 25 in a recent X post. According to the update, the platform aims to help people and developers quickly discover and access verified decentralized applications (dApps) built on Shibarium.

It is worth noting that Shibarium is developing into a Layer 2 solution based on the Ethereum blockchain. However, finding reliable applications has always been a challenge.

As stated in the X post, the DappStore is committed to providing access and building trust. The platform will allow users to access a list of vetted and curated applications. This will reduce the risk of scams by eliminating the need for users to sift through a large number of social media posts or unreliable links, and help them find legitimate, working applications more efficiently.

Developers also benefit from this launch. For many, building a DApp is just the first step. Getting users to discover and try it is the next big challenge. Fortunately, with this new DappStore project, developers can now showcase their work to the active community that is already using the network. This kind of visibility is often challenging, especially in the crowded and noisy crypto space.

The general view is that as more people adopt the platform, it will create a cycle that incentivizes developers to build more applications, thereby promoting the growth of the entire ecosystem. According to X's post, LucieSHIB described the DappStore as a hub for the community that will help Shibarium grow into a platform that goes beyond the blockchain itself.

This development comes just weeks after Shiba Inu's Layer-2 protocol reached a major milestone. The network recently passed the 1 billion mark in transactions. This achievement further enhances Shibarium's reputation and may play a key role in its long-term development.

Shiba Inu Price Outlook After DappStore Launch

The rise in Shiba Inu's price can be attributed to the excitement sparked by the launch of Shibarium's DappStore. The official launch of the platform has boosted confidence in the token’s future performance.

As of the time of writing, CoinMarketCap data shows SHIB trading at $0.00001418. It is currently up 8.84% with a market cap of $8.32 billion.

Analysts and community members have noticed growing optimism in the market. As the popularity of the Shibarium blockchain continues, the price of Shibarium continues to rise and the market is also showing bullish sentiment.

In a recent update, the SHIB community discovered a significant increase in the token burn rate. According to Shibburn data, the burn rate increased by 825%. A total of 26,481,246 SHIB tokens were removed from circulation, which could affect the supply of the cryptocurrency.

Since its launch, the Shibarium team has burned 410.7 trillion tokens, a trend that could have a huge impact on the price.