Shiba Inu made a significant splash at the Blockchain Futurist Conference (BFC) with the release of a new video showcasing its impressive developments in 2024. As one of the event’s title sponsors, Shiba Inu continues to assert its influence in the blockchain space.
The video, unveiled by Shiba Inu’s pseudonymous leader Shytoshi Kusama, opened with a retrospective look at the token’s meteoric rise since its inception on August 1, 2020. Shiba Inu, often referred to as the “Dogecoin killer,” has witnessed a staggering lifetime increase of 25,000,000%. The video also highlighted SHIB’s massive online presence, with 100 million weekly media impressions and over six million social media followers.
Despite its humble beginnings and a historic low of $0.00000000005637 in November 2020, SHIB’s price soared to an all-time high of $0.00008845 exactly two years later.
The video then transitioned to Shiba Inu’s remarkable achievements in 2023. Kusama noted that SHIB was the second most searched cryptocurrency globally that year. Shibarium, the ecosystem’s Layer-2 blockchain solution, saw rapid adoption, recording over 1.36 million wallets and 400 million transactions within months of its August 2023 launch. Additionally, the SHIB Paper, the cryptocurrency’s constitution, was released, solidifying its governance framework.
Shiba Inu’s Other Endeavours
In 2024, SHIB team has not slowed down. The team has made significant enhancements to Shibarium, reducing bridge times from 7 days to 45 minutes and enabling NFT bridging with Ethereum. Shibarium’s transaction count surged to over 417 million this year, with an average of 1 million daily transactions.
The introduction of Self-Sovereign Identity (SSI) marked another milestone. This initiative, in partnership with D3 Global, allows users full control over their data. ShibaSwap, the decentralized exchange, also saw major upgrades, improving liquidity migration and adding new reward structures.
Shiba Inu’s burn mechanism, known as SHIB Torch, continues to reduce circulating supply, aiming to boost token value. New ventures like Shib Marketplace and SHEboshi NFTs are expanding the ecosystem, while upgrades to the Shiba Eternity game promise exciting future developments.
Shiba Inu’s journey from meme token to a multifaceted ecosystem is far from over, as evidenced by its ongoing innovations in 2024.