- Shiba Inu witnesses a remarkable 115% weekly surge in new SHIB addresses, reflecting intensified market interest.
- The eagerly anticipated Shibarium launch, Shiba Inu’s Layer-2 blockchain, is set to amplify the utility of SHIB tokens.
The Unstoppable Rise of Shiba Inu
Shiba Inu, initially recognized for its whimsical meme origins, has been catapulting towards the forefront of the crypto stage. With the launch of Shibarium just around the corner, the Shiba Inu ecosystem anticipates an unprecedented milestone.
A Testament to Shiba Inu’s Market Grip
Over the past month, the crypto market has buzzed with electrifying SHIB activities. Data from IntoTheBlock showcases an astonishing tally of 3.54 million SHIB addresses, marking a significant footprint in the crypto sphere. This momentum isn’t fleeting. Over the past week alone, there’s been a 14.18% hike in new SHIB addresses. Born merely three years ago, Shiba Inu’s impressive journey has pivoted to a crucial juncture.
Shiba Inu’s valuation dynamics offer another intriguing story. Balances of SHIB token holders within the valuation bracket of $1 million to $10 million have surged by 52.65%. This trend reflects heightened market anticipation, primarily driven by Shibarium’s imminent debut, scheduled between August 15 and 16.
Shibarium: A New Era for Shiba Inu
Shibarium isn’t just another addition; it signifies a monumental leap for the Shiba Inu ecosystem. The introduction of this Layer-2 blockchain promises to elevate the utility of SHIB tokens, potentially funneling a larger user base and liquidity pool into the ecosystem.
Another riveting development has been the SHIB token’s burn rate. As per Shibburn’s insights, a massive 1.1 billion tokens were incinerated in the past week, representing a significant increase over prior weeks. Such activities illuminate the positive sentiment enveloping the Shiba Inu space, further corroborated by Santiment’s data showcasing SHIB’s notable detachment from Bitcoin’s price dynamics.
In the last 7 days, there have been a total of 1,164,755,557 $SHIB tokens burned and 217 transactions. #shib pic.twitter.com/r6Gu8qMsC4
— Shibburn (@shibburn) August 13, 2023
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Shibarium’s forthcoming launch resonates with core tenets of “Burn” (specifically SHIB), “Protect”, “Help”, and “Grow”, as shared by Shiba Inu team member Lucie. Furthermore, with over 1,007 Tangem wallets sold, a commitment of a 5% burn translates to 3,524 USDT. A recent poll, urging the SHIB community’s participation, witnessed a majority favoring the burning of these proceeds.
#SHIBARMY Would you like to see a portion of the proceeds from the @Tangem Shiba wallets burned? Let your voice be heard in the poll below! 🔥 https://t.co/J3FP8qKhj7
— Shib (@Shibtoken) August 12, 2023
As the countdown to Shibarium ticks, the crypto community waits with bated breath to witness Shiba Inu’s next quantum leap.
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