The second largest crypto memecoin, Shiba Inu (SHIB) experienced a drastic fall of 3.07% in the last 24 hours with the market cap shrinking by $4.68 billion following the FTX crisis which resulted in the entire crypto market facing similar temps.
According to SHIB's monthly chart, the memecoin has declined more than 17.6% while it is currently rising slightly again hovering at the 0.0000090 price zone.
Despite that, SHIB still maintains its performance as most Ethereum (ETH) whales are still interested in investing in the memecoin even though the crypto market is in an uncertain state.
As proof, the number of SHIB wallet holders is reported to be increasing with the addition of 50,000 wallets in the last two weeks, where the total record now stands at 1 million.
While other retail customers are actively looking for new options other than centralized crypto exchangers, SHIB developers are in the process of developing the Shibarium ecosystem, a Layer-2 upgrade.
The following also means that Shibarium has a connection with the SHIB Ecosystem token as well as Bone ShibaSwap (BONE) which will function as a gas fee.
It is also understood that the Shibarium upgrade is intended to dominate the Web 3.0 project SHIB: The Metaverse which will be presented at the Immerse Global Summit in Miami in a few weeks.
In fact, the founder of SHIB, Shytoshi Kusama mentioned that he will do his best to make the plan successful by conducting a test phase of the Shiba Eternity collection card game even though the official date for the launch of Shibarium has not been set.
