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Shiba Inu Ecosystem Evolves: SHIB Gains Cross-Chain Capability with Chainlink
The Shiba Inu ecosystem has made a significant breakthrough, as it has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) into its layer 2 network, Shibarium. This integration enables the creation of feature-rich cross-chain applications that can contribute to the expansion and growth of the Shibarium network.
Shibarium developers are now empowered to build a wide range of innovative use cases across multiple blockchains, leveraging Chainlink’s decentralized oracle networks. The CCIP protocol ensures seamless interactions between different blockchain-based systems, enabling the transfer of value, data, and instructions in real-time.
The integration with Chainlink is expected to have a profound impact on the Shiba Inu ecosystem, as it will enable the creation of new use cases and applications that can be used across various blockchains. This advancement has the potential to increase the adoption and mainstream appeal of Shibarium-based projects.
Notably, this move by the Shiba Inu team comes at a time when both SHIB and LINK have faced a downturn in their respective prices. SHIB’s price dropped by 8.24% in the last 24 hours and declined by 19.92% over the past week. Similarly, LINK has experienced a decline of 6.03% in the past day alone and a loss of 21.32% over the same period.
Despite this recent downturn, analysts remain optimistic about the future prospects of both projects. A recent CNF update projected that the price of LINK will rebound to $35 by January 2025 and potentially reach as high as $75 by mid-2025.
Source: www.crypto-news-flash.com
