Why developers have made a big bet on Shiba Inu (SHIB).

Shiba Inu breeders don't rest on their laurels. Following the successful launch of Shiboshi NFTs, they are planning the next phase of development that will move the digital asset forward.

Shiboshi's recent launch has attracted the attention of fans and skeptics alike, who see it as yet another attempt by Shiba Innu developers to tap into the market.

Shiba Inu will see more developments as the network grows

Shiba Inu influencer Lucy sheds light on the matter. He pointed out that the developers had many motives beyond profit. Lucy said these initiatives are part of a broader strategy to advance the ecosystem through innovative technology.

This is not a pump and dump scheme! A full breeding plan and Shiba Eternal P2E line-up is ahead. So yes, we know that dealers have jumped on the new hot thing Dn404, but for us, the true owners of Shiboshis, the price is now irrelevant,” emphasized Lucy.

In recent months, Shiba Inu developers have worked hard to elevate the network beyond its MemCoin origins, focusing on practical utility. This effort has spawned various projects such as the Shibarium Layer 2 network and the SHIB Identity blockchain identity initiative.

The buzz around Sheboshi coincided with a significant increase in transaction volume on the Shibarium network. Data from ShibariumScan rose to 3.95 million transactions at the time of reporting, down from around 2.78 million, indicating growing interest and participation in the crypto market.

This marketing frenzy marked a major boost for the Shibarium project, which had recently seen a lull in marketing activities. In fact, the exit had a positive effect on SHIB's burning activity, increasing by 55% in the previous day and 166% in the previous week.

Read More: Shiba Inu (SHIB) Price Prediction 2024/2025/2030

At the same time, the total value of Shibarium's locked assets increased, reaching a significant $1 million on February 21. But that figure dropped slightly to $926,210 two days later.

The increasing TVL means that more users are entrusting their assets to the network to participate in decentralized financial activities, which can measure investor confidence. MARSWAP, a decentralized exchange (DEX) primarily controls Shibarium's TVL, holding 54.02% TVL, which is approximately $519,000.

Despite the recent surge, TVL is still below the high of $1.47 million recorded in August 2023. This marks a major adoption period for the shibarium network.