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Shiba Inu is now a part of Binance card

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Shiba Inu has gone a long way from its early days as a meme coin attempting to transform into something more practical. This effort of the Dogecoin Killer seems to be bearing fruits sooner than expected.

Recently, the network turned two, and the celebrations went on all week. Tuesday saw the name of the eagerly anticipated game revealed, and the network ended the week by getting a spot on Binance Card.

Three additional assets have been added to the Binance Card, according to the biggest cryptocurrency exchange in the world. This featured Avalanche (AVAX), Shiba Inu (SHIB), and XRP. The supported cryptocurrency assets are anticipated to launch right now. Binance took to Twitter to make the listing official.

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Source: Twitter

It should be emphasized that only users who reside in the European Economic Area [EEA] are eligible to use the card. Additionally, refugees from Ukraine who now reside in EEA nations may benefit from the most recent accession.

Shiba Inu’s participation is not shocking considering how widely used the meme coin has become. The asset has been housed on a variety of platforms during the past few months, enhancing its visibility.

Additionally, Binance Card increased the number of cryptocurrencies it supports to fourteen with the addition of SHIB, XRP, and AVAX. Along with SXP, other assets on the list include Cardano (ADA), Binance Coin (BNB), Bitcoin (BTC), Binance USD (BUSD), Polkadot (DOT), Tether (USDT), Ethereum (ETH), S.S. Lazio (LAZIO), Santos FC (SANTOS), FC Porto (PORTO), and SXP.

Shiba Inu’s commitment to growth

Shiba Inu’s dedication to expansion was demonstrated by the Shibaswap platform’s formal launch. Now, based on social indications, Shibaswap has taken the #1 spot on the list of the most popular Ethereum dapps.

According to research by crypto expert Ben GCrypto, this is the case. The DEX outperformed OpenSea and the Bored Ape Yacht Club, which placed second and third consecutively. This is an outstanding accomplishment for the DEX.

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Source: Twitter

Considering that Shibaswap had recently celebrated its one anniversary in July, the ranking demonstrates its rapid growth. More than 30 digital assets have so far been listed, bringing in a total value lock of almost $41.72 million.

Shiba Inu’s Ultimatum To Ryoshi Team Over Slower Rewards Distribution

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Shiba Inu’s decentralized platform ShibaSwap has published a blog to inform the Shib community of the current status and situation with the SHIB Burn Portal that is powered by Ryoshi Vision.

The post begins by mentioning the significance of the burn portal which serves as a benefit for both communities- the Ryoshi and the Shiba’s development team while honoring SHIB’s holders to eliminate tokens out of circulation in exchange for a reward system.

It then acknowledges the bottlenecks which have been affecting the community that is leading to disruption in the workflows as well as users becoming frustrated over slower rewards distribution.

According to the team, the issue persisted since the day these rewards were released as some users were unable to claim them. “Users that have received the rewards have also engaged with Discord’s moderation team at Ryoshi Vision to find out more information to no avail,” it alleged.

Shiba Inu Community Can No Longer Tolerate Any Further Delay

The DEX also revealed that Ryoshi Vision has initiated discussion with regards to the issues and updates with their investors. But so far have failed to provide any clarity, or proper communication to address the issue beyond such events.

We understand repairs and delays can occur and take time, yet the community can no longer efficiently continue to hold with no delivery or communication. This has gone beyond acceptable ratios in which investors and contributors to the portal have to wait for such a response.

“We have asked them also to acknowledge this and provide better communication and transparency to both communities,” it added.

Meanwhile, Ryoshi Vision has responded via Twitter acknowledging the issues saying that they are taking full responsibility for the delays, and are actively working towards a rapid response and resolution.

For those new, the Shiba Inu burn portal was built in collaboration with the creators of Ryoshi Vision in April 2022. Ryoshi Vision is a community-run ERC20 token, and it was founded to honor the creator of the Shiba Inu ecosystem, “Ryoshi.”

Also, the Ryoshi Vision token is not part of the Shiba Ecosystem and has its own project and goals. 

Lead Shiba Inu Developer Says SHIB Burns Require A “True Community Effort”

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Shiba Inu’s lead developer Shytoshi Kusama stated that the burning of the SHIB tokens requires a true community effort. Replying to a user’s tweet who called for “massive burns to pep up the army”, Kusama added that they are working on the project which might take time, and hoped it would work out perfectly.

Data from the Shibburn website shows that 410,373,764,750,087 SHIB tokens have already been transferred to dead wallets from the initial supply of 1 quadrillion.

In the past 24 hours, the burn rate has reached 647.12% as per the data tracker.

Burns are calculated using three special addresses, two dead wallets which have no obtainable keys, and tokens sent to the Genesis address [Black Hole] which reduces the supply. The above chart uses the initial supply of 1 quadrillion.

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Lead Shiba Inu Developer Says SHIB Burns Require A "True Community Effort" 4

The latest tweets from the project developer indicate that efforts are being made to intensify the burning mechanism.

For the last one week, more than 1 billion SHIB has gone up in flames. The popular meme token has a total supply of 589,626,233,367,020, with a circulating supply of 557 trillion SHIB tokens and a market cap of $6.2 billion.

Shiba Inu Is Down By 87% Since Its ATH

At the time of writing this post, SHIB was exchanging hands at $0.000011. Since reaching all-time highs of $0.000088 in October last year, the 15th-ranked asset has shed nearly 87.19% of its value. Other cryptocurrencies have dropped drastically as well.

Despite the lackluster price performance, the canine-themed token has managed to gain acceptance on several well-known cryptocurrency exchanges, including Binance, Coinbase, Gemini, and, most recently, Bitfinex.

Similarly, another token of Shiba Inu’s ecosystem worth mentioning is 1CENT Token, a community-led burning project that destroyed 300 Bone ShibaSwap [BONE] in the past 7 days.

Regarding the Bone Shibaswap token, BONE, Team Shiba Inu recently adjusted the token’s current flow and minting rate to 1 BPB [BONE Per Block]. 

This adjustment was intended to prevent the over-minting of the Shiba Inu ecosystem token, thereby maintaining the integrity of the DOGGY DAO voting outcome and the reward system, while safekeeping the agreed minting ratios voted in by the community at 230 million BONE, the team claimed.

Shiba Inu Team Provides Crucial Update on Bone Farms

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The team behind Shiba Inu published key updates on the minting rate of BONE. According to the blog post, the new minting rate is set at 1 BPB [BONE per block] to prevent the over-minting of the crypto asset.

Instead of halting the minting process completely, slowing the BPB, ensures not only the integrity of the DAO vote but also the reward system, while safekeeping the agreed minting ratios voted in by the community at 230 million BONE, the team claims.

Earlier the community decided to place a limit on the maximum supply at the original cap of 250 million BONE by stopping its minting at 230 million.

In addition to that, this adjustment would also streamline ShibaSwap rewards of the upcoming reward token TREAT, which is slated to enter the ecosystem soon.

We understand reducing the BPB down may seem like a drastic approach to the rewards system right now, but beginning streamlining the future of ShibaSwap will allow the team to focus on the tasks that will bring these systems to life sooner rather than later.

“Tokenomics for TREAT have yet to be revealed”, the blog added. It then concluded the post by urging users to stay tuned to https://blog.shibaswap.com for upcoming releases.

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Shiba Inu Team Provides Crucial Update on Bone Farms 6

For those new, BONE is the governance token of the Shiba Inu ecosystem & is about to become the ‘gas’ of the Shibarium Protocol, which means that the token would be necessary to perform every function on Shibarium SHIB’s Layer 2 Solution.

As per recent updates shared by Unification last month, the Shibarium Public Beta TestNet is planned for deployment in Q3, 2022.

Shiba Inu ‘Whale’ Transactions Have Spiked By 85%

Per IntoTheBlock data, Shiba Inu whales, or large-scale investors, are on the go, as large transactions have swelled by 85% over the past day.

Typically transactions of over $100,000 come under the large transactions and are sometimes linked with increased activity from whales who are either buying or selling.

Data from WhaleStats also revealed that the top 100 Shiba Inu holders showed a 33% surge in active address counts further contributing to the volume of large transactions.


Shiba Inu Arrives In Estonia-based Switchere Exchange With LEASE & BONE

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Shiba Inu Community got another reason to celebrate as SHIB, Doge Killer [LEASE], and Bone ShibaSwap [BONE] tokens have finally made their appearance on the Estonian crypto exchange, Switchere.

Thus users would now be able to buy and sell these coins via the available payment methods provided on the platform. In the announcement post, Switchere exchange stated, 

:We’re excited to announce the listing of three incredible new tokens on our full-featured exchange platform! Starting today, you will be able to buy and exchange ALL Shiba Inu ecosystem’s tokens at Switchere in the fastest and most convenient ways using any available payment method!”

About Switchere Exchange -Founded in 2019, the trading platform boasts over 300k users and extends support to above 30 cryptocurrencies.

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Shiba Inu Arrives In Estonia-based Switchere Exchange With LEASE & BONE 8

Bone ShibaSwap [BONE] is the governance token of the ShibaSwap DEX through which the SHIB community votes on proposals. BONE is slated to serve as the “gas” in the upcoming Shibarium Layer 2 blockchain solution.

On the other hand, the Doge Killer [LEASH] is a token that was originally considered to be a rebase token pegged to the price of Dogecoin but it was later decided that LEASH would deactivate the rebase function.

For the uninitiated, Rebase tokens are typically tied to other assets, similar to stable coins. However, they do not utilize reserves; instead, they burn tokens in circulation or mint new ones to maintain the peg.

Shiba Inu’s listing has its roots in late May 2022

Rumors of a possible listing were doing the rounds since the time MilkShake notified the Shib Army in a tweet, of a planned discussion session with the Estonian crypto exchange, a month ago.

Subsequently, MilkShake updated the community in early June 2022 of a successful ‘communication’ with Switchere, stating that the crypto exchange hopes to support the Shiba Inu project.

Of late, a lot of positive developments have been seen around the meme coin’s ecosystem. The token continued to be the most preferred asset among the top 100 ETH investors.

Additionally, ShibaSwap DEX recently disclosed that the SHIB’s burn portal rewards will be distributed before the end of June.

Shiba Inu Burn Portal Reward Distribution Day Is Nearing

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The much anticipated Shiba Inu burn portal prizes, also known as Ryoshi Vision rewards, may be given out over the next 48 to 72 hours starting on June 26, according to a recent announcement made by the ShibaSwap DEX Twitter account.

After the release of the awards and subsequent completion, the ShibaSwap DEX team pledges to give further updates.

Shiba Inu burn page will incentivize the burners soon

Together with the developers of RYOSHIS VISION, an ERC20 token aiming to grow the Shiba Ecosystem, the Shiba Inu burn page was developed in late April.

The burn gateway was created to provide SHIB burners with a passive income acknowledgment in the form of RYOSHI Rewards, according to the Shiba Inu team. Additionally, 0.49 percent of all RYOSHI transactions will go to the owners of burntSHIB.

Additionally, it introduced the Shiba Burn Smart Contract, which projects may utilize to establish a “BURN Pool” and provide incentives for SHIB token burning.

Once the SHIB burn site appeared, SHIB owners went to burn their tokens in great numbers, resulting in an astounding eight billion tokens being destroyed in less than 24 hours. Since the original burn, which took place about two months ago, more SHIB tokens have been torched.

More than 56 billion SHIB tokens have reportedly been burnt according to the data from the burn portal. Users can permanently delete SHIB tokens from the available supply by sending them to a burn address. It is possible to somewhat raise the token’s scarcity by doing this, which might improve the token’s value.

Shiba Inu Retains The Largest Token Position Among Top ETH Whales

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The Shiba Inu [SHIB] token emerged as the biggest gainer in the blazing rally, rising by almost 50% in the past seven days. This in turn helped the token to retain its numero uno position among the top 100 ETH whales.

As per data from whalestats, the top 100 ETH wallets have scooped $606 million worth of SHIB, which is 15.12% of their holdings.

In addition to that, the popular meme coin at present was exchanging hands at $0.000011 after a marginal rise of 5% in the past 24 hours. The 13th-ranked token’s current market cap stood at $6.54 billion.

During this week, a series of significant announcements provided Shiba Inu with a much-needed price boost amidst the prolonged bear market.

One of them is Shibarium, a layer-2 solution first proposed by Ryoshi, the creator of the Shiba Inu Coin. The entity behind the development of the protocol, the Unification Foundation, recently published a detailed post on their Medium blog.

According to the post, the upcoming TestNet has been operating without any hitch for several weeks and is currently undergoing development in preparation for the public Beta TestNet release.

The developers highlighted that the wallet is intended to be an all-inclusive application and would enable the movement of assets within Layer 1 and Layer 2, the possibility of stalking, and in the future, ShibaSwap would also be executed in it.

Shiba Inu’s layer 2 scaling solution is set to deploy in Q3

The launch of the Shibarium Public Beta TestNet, which will allow complete network interaction for users, including the validation process, is scheduled for the year’s third quarter.

The community-dedicated Twitter handle, ShibaInuart, shared its expectations once the beta phase goes live:

“When the Shibarium Public Beta TestNet planned for deployment becomes active, workflows of key areas for those interacting with the blockchain environment will help evaluate the following: performance benchmarking, usability optimization, and architecture stabilization.”

A few weeks back, Shytoshi Kusama, one of the key members of the project’s development team, earlier teased the release of Shibarium that generated quite a stir.

That said, with a large number of circulating SHIB, and a hugely enthusiastic fan base, Shibarium can be the deal breaker and usher in a new era for the SHIB ecosystem.  

Is Shiba Inu Easy to Buy and Sell in Europe?

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Shiba Inu (SHIB) investments have skyrocketed in Europe, especially Germany, because of its high profitability. Also the coin can be used as a payment option in some cases.

The coin has only existed since 2020, and we understand that many investors are still sceptical about taking their chances with the investment. However, Shiba continues to be embraced by investors, and putting up your money into it can benefit you in the long run.

This article will give you insights into how Shiba investments work and whether it is easy to buy and sell in Europe. We will also include some significant reasons you should consider this investment in 2022 and the best way to get started.

How to Buy Shiba Inu in Europe

Like other cryptocurrencies, you need a cryptocurrency exchange or brokerage firm to buy Shiba Inu. Note that these platforms have varying features, and it is crucial that you choose those that benefit your Shiba investment requirements. For instance, you need to consider budget, reliability, availability of Shiba and other cryptos, payment methods, demo accounts, etc. Most importantly, invest using brokers or crypto exchanges that accept clients from your country. 

For instance, German investors looking to buy Shiba Inu, should go for brokers regulated by the Federal Financial Services Authority (BaFin).

If you are in Germany or you are a German investor, take a look at the following guide on the best platforms where you can buy Shiba Inu: Shiba Inu krypto kaufen in Deutschland. This translates to How to buy Shiba Inu in Germany. 

Note that the best broker or cryptocurrency exchange allows purchasing of SHIB using various payment methods. These funding methods include debit/credit cards, bank transfers, e-wallets like PayPal, and other cryptocurrencies. All you need is a crypto wallet and select a more flexible payment option you are comfortable using.

For newbies looking for ways to get started, the procedure for buying Shiba can be pretty straightforward once you understand how to go about it. By creating an account on a broker’s or cryptocurrency exchange’s platform, you can easily access the asset and complete the purchase. However, note that you need to start by learning about the Shiba Inu market and how it works, including all the risks involved, before making your first significant investment. 

Other Ways Of Investing In Shiba Inu

Although some traders and investors will buy Shiba and store it in their digital wallets, others prefer other methods of making profits from the asset. One of the most popular ways to trade Shiba is through CFD trading, offered by regulated brokers that meet your trading requirements.

With Shiba CFD trading, you do not take ownership of the underlying asset. Instead, all you do is predict Shiba’s price movement through the chosen platform. Remember that all cryptocurrencies, including Shiba Inu, are volatile, and you must conduct a thorough market analysis for increased profitability.

Alternatively, you can buy SHIB’s shares through companies that produce the commodity. Here, you will require a broker with access to the exchanges where the companies’ shares are listed. The best element about buying Shiba shares using brokers is that you can purchase the shares as fractions should a single one be costly to afford.

Pros and Cons of Buying Shiba in 2022

Shiba Inu runs on the Ethereum network as an ERC20 token. It is one of the meme coins besides Dogecoin that has captured investors’ attention from diverse regions in Europe. Recently, the Shiba community celebrated one million holders, which ended up stirring the cryptocurrency space. For this reason, many investors dub it the “Dogecoin killer,” especially when it comes to long-term investments.

With many controversies surrounding Shiba Inu investments, below are the pros and cons of buying Shiba to give you a clear insight. 

Pros

  • Shiba’s current share price is very cost-effective, making it a viable option for newbies. Since this cryptocurrency’s popularity is skyrocketing, investing in it now when the price is still low can pay off in the long run.
  • Shiba has a decentralized exchange known as ShibaSwap that is highly secured and allows users to meet and trade cryptocurrencies. 
  • The cryptocurrency has shown immense growth since it was launched in 2020 — an indication that it could generate good profits in the long run.
  • It supports smart contracts, making it easier for investors to lend and stake them while earning passive income.
  • It has gained massive support from prominent business people, including Elon Musk. This keeps the coin in the limelight for new investors. 

Cons

  • Being a relatively new asset in the market with little information about it makes Shiba a riskier investment compared to other cryptocurrencies.
  • The asset is highly volatile, making it challenging for investors to predict how it will be in the future. 

Key Takeaways

Shiba is a highly volatile cryptocurrency, and investing in it is risky. However, all financial assets carry risks, and the only way to mitigate them is by conducting extensive market analysis to develop the best investment strategies. Generally, Shiba is a good investment, and it is easy to buy when using licensed and regulated brokers. The best element about buying Shiba with brokers is that you get access to additional assets for portfolio diversification. Plus, brokers offer learning and research tools for a worthwhile experience.

SHIB Metaverse Stage 3 Public Land Sale Goes LIVE: More details

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Shiba Inu metaverse’s third and final stage is finally opened for public sale on 23rd April 2022. As per the tweet, lands are available for everyone to purchase, at a fixed price, and without needing to lock any of their assets. The price starts from 0.2 ETH and users must possess a MetaMask Wallet.

The tweet then urged interested users to buy the lands before the secondary market.

Altogether, SHIB: The Metaverse consists of 100,595 plots of land where some remain locked and stay private to be used as common ground. These would represent roads [corridors]: Avenues, Boulevards, and Hubs, while public ones will be available for purchase.

The full opening of the land sale comes after 10 days the first stage opened, in which it brought in almost $20 million under one week through sales.

Till now, the Diamond Teeth land, located in the Technology district of SHIB: The Metaverse, received the highest bid of 6.51 ETH, surpassing the previous highest bid of 5.19 ETH. This was confirmed by Archangel, one of the asset’s Growth Breed members via tweet.

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SHIB Metaverse Stage 3 Public Land Sale Goes LIVE: More details 10

However, Shiba Inu Metaverse recently courted controversy after a user who attempted to draw a swastika symbol was spotted by members of the project’s Discord channel. Users quickly made counter purchases to turn the hateful symbol into a window instead.

The platform then warned users who violate rules would be blacklisted — “meaning it will never be able to participate in any and all areas of this platform.”

SHIB is a hot favorite among Whales and Scammers alike!

The 20th biggest ETH Whale named “Bombur” swallowed another big chunk of the meme coin. As per blockchain data tracking website, WhaleStats, Bombur bought 54.04 Billion SHIB worth $1.32 million. The meme coin has received significant traction since the Robinhood listing. Unfortunately, this has also brought in malicious activities.

A Shiba Inu developer has warned in a blog post about how a scam token is posing as ‘Shiba Inu: Deployer’, using a smart contract on the blockchain that obfuscates information about the actual sender and receiver. He urged users only to follow official announcements to avoid falling for these scams.

Shibarium testnet draws closer; Can it propel SHIB to a new ATH?

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Shibarium, a Layer 2 scaling solution for the Shiba Inu is heading closer to launching its public beta version. This was revealed in a Twitter update by Milkshake from a recent Medium blog post, Unification Foundation, a team working on the layer2 project.

The article revealed that a public testnet of Shibarium is slated to go live within the next few months with a public beta to follow shortly thereafter.

According to the post, the Alpha TestNet version for Shibarium is currently underway which will be used for network testing and the development of all end-user engagement tools such as wallets and block explorers, token transfer bridges, etc.

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There will be some private invitations sent out to trusted testers after these have been prepared and implemented. The feedback will be used to improve and expand the network and tools before releasing a public Beta TestNet. Further the blog read,

“In continuing the foundational work to support open source projects with large utility, the Unification team continues to play a strong role in the development of the Shibarium network. Shibarium which will be the premium L2 for the Shib token community, & in partnership with the Shib Army, enabling rapid low-cost transactions optimized for gaming.”

Can Shibarium be the gamechanger for Shiba Inu?

As Shiba Inu is an ERC-20 token, the asset is plagued with high gas fees rendering it unaffordable for many newbies. With the introduction of the scaling solution Shibarium, many in the community expect it to be a gamechanger for the popular meme coin use cases.

Besides that developers are also working on an algorithmic stablecoin called SHI that will operate on both Ethereum and Shibarium. Not content with just being a meme coin, Shiba Inu has announced its plans to develop its own virtual space and world, “Shib: The Metaverse”.

Even though SHIB’s price remained flat, Whales continue to buy the dip, as data from WhaleStats revealed that SHIB blasted its way to be one of the largest holdings among the top ETH whales. This position had previously been occupied by FTT [FTX Token] for a while now.

Meanwhile, the Shibarmy is also helping the asset to grow by burning massive amounts of the coin. As per statistics by shibburn, 1.4 billion SHIB has been burned in the 24 hours. All these developments would initiate a leg up in the token’s price action.