- Shibburn unveils the ‘SHIB Association’ dedicated to the Shiba Inu network’s innovation and utility.
- Following a downward trajectory, Shiba Inu’s token sees a 3.2% uplift, offering a glimmer of hope to the community.
The ‘SHIB Association’: A Catalyst for Shiba Inu’s Revival?
Earlier today, the crypto community was abuzz as Shibburn, a platform renowned for tracking token burns within the Shiba Inu network, dropped a significant announcement. Previously recognized for disseminating information about tokens being incinerated, Shibburn is now amplifying its involvement with the debut of the ‘SHIB Association.’
A Dedicated Focus on Shiba Inu
Elucidating further, Shibburn emphasized that the SHIB Association is crafted with an exclusive focus on the Shiba Inu ecosystem. The intention is unambiguous – to usher in innovation and heightened utility to the SHIB token, underpinned by the creation of a proprietary blockchain.
Many already know that I’ve done my best to help the community regarding any information they needed about burns. I thought things would be a little different today… We’re going to keep our focus solely on SHIB… — Shibburn (@shibburn) August 23, 2023
In an environment where distinctions matter, Shibburn was quick to delineate its position. This newly-minted SHIB Association is not to be conflated with other initiatives, sustaining its independence. While the association operates as a standalone entity, Shibburn will play an instrumental role, contributing actively to its endeavors.
To many onlookers, this announcement has been perceived as a concerted effort to rejuvenate the somewhat faltering SHIB network.
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Shiba Inu’s Dwindling Enthusiasm
Recent times haven’t been favorable for Shiba Inu. The meme coin, riding high on the anticipation surrounding its layer-2 solution, Shibarium, encountered turbulence. The ensuing fallout from Shibarium’s less-than-stellar debut precipitated a notable slump in both its price and network activity.
Evident from recent metrics, the once-buzzing Shiba Inu universe has been eerily quiet. Network indicators, including transaction count, active addresses, and overall volume, have registered a palpable downturn. A mere week ago, the transaction count was hovering around 9.64K. Fast forward to the present, and this metric languishes at a mere 4.19K.
But Hope Springs Eternal
However, as darkness is often followed by dawn, Shiba Inu has shown hints of a resurgence. The meme token experienced a 3.2% surge, trading at $0.00000824. For a community that had been grappling with consecutive days of despondency, this uptick serves as a beacon of optimism.
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