- Shiba Inu’s Twitter account Lucie has hinted at an announcement for the Shiba Inu ecosystem regarding a cold wallet coming this week.
- Shiba Inu’s Total Value Locked (TVL) has recently skyrocketed, offering an impressive 120% per year.
Shiba Inu (SHIB) Big Announcement Imminent, Here’s What It Might Be
Shiba Inu-focused Twitter account Lucie has hinted at an announcement incoming for the Shiba Inu ecosystem. According to LucieSHIB’s tweet, an announcement on Shiba Inu’s cold wallet will be provided in the next few days. A cold wallet is a type of cryptocurrency wallet that securely saves a user’s private keys offline, protecting against potential hacking and theft.
Cold wallet coming this week ( Probably)
What is it?
A cold wallet, also known as a cold storage solution 1, is a type of cryptocurrency wallet that is not connected to the internet. It securely stores a user's private keys offline, usually on a physical device, to protect… pic.twitter.com/mHdL6fAN1p
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) May 9, 2023
The Shiba Inu development team is considering working with two industry figures, presumably Huobi and Certik, regarding the wallet’s launch.
Additionally, Shiba Inu’s adoption of cryptocurrency payments has grown tremendously since crypto payment processor BitPay announced its support for the meme token in late 2021. According to a blog post by BitPay, hundreds of companies now accept direct payments in Shiba Inu, including major brands like AMC Theatres and Gucci.
120% Per Year? Shiba Inu (SHIB) TVL Skyrockets, Here Are Potential Reasons
Shiba Inu’s Total Value Locked (TVL) has recently skyrocketed, offering an astounding 120% per year. One of the primary reasons for the significant increase in SHIB’s TVL could be the ongoing liquidity crisis the token is currently facing. By offering high Annual Percentage Rates (APR), Shiba Inu is likely aiming to attract more liquidity providers and ultimately stabilize the token’s liquidity.
Another factor that might have contributed to the surge in SHIB’s TVL is the recent price drop below the critical $0.000009 level. As investors look for ways to mitigate potential losses, the high APR offered by Shiba Inu could be seen as an attractive opportunity for them to recoup some of their losses while providing liquidity to the platform.
Furthermore, the current market dynamics and investor sentiment surrounding meme coins could also be playing a role in SHIB’s skyrocketing TVL. As more retail investors enter the market, lured by the potential gains of meme tokens, they may be attracted to the high APR offered by Shiba Inu, fueling the surge in its TVL.