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Shiba Inu Fans, Get Your Woof On For This Summer Fiesta Cabana Party

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Shiba Inu to play host for an outdoor cabana party that would be sponsored by the SHIB team. Promising an “unforgettable fiesta of music, mouthwatering food, and refreshing drink,” the event would be included in the Toronto Blockchain Futurist Conference ticket, where the upcoming layer-2 protocol Shibarium is expected to be unveiled.

According to the tweet, this is the continuation of the “Summer of Shibarium” announced by lead developer Shytoshi Kusama last month, where it is the title sponsor. The official Twitter handle also informed interested attendees that the entrance fee is included in the cost of the ticket to the conference itself.

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Shiba Inu Fans, Get Your Woof On For This Summer Fiesta Cabana Party 2

The beta platform has quickly reached one milestone after another since its March 11 launch. It has recently surpassed 30 million transactions and currently has over 17 million wallet addresses with an average block time of 5 seconds. Besides the Shibarium mainnet, the annual ETH Toronto and ETH Women events are also scheduled to take place on August 15 and 16.

The SHIB community is already quite excited about Shiba Inu’s imminent layer-2 mainnet launch. The prospect that DOGE enthusiast Elon Musk would attend the launch party has SHIB supporters even more excited after co-founder and project leader Shytoshi Kusama tweeted a mysterious invitation.

Shiba Inu Established A New Record In Terms Of Address Count

Musk posted a photo of himself wearing an I Love Canada t-shirt on Twitter. Kusama took the opportunity to remark, “See you at the Blockchain Futurist Conference.” Although the software mogul has not yet replied to the offer, the tweet received a ton of attention from people eager to catch a glimpse of the famous guest.

As the Shiba Inu team and community prepare for their impending launches, the demand for the meme currency has increased dramatically, establishing a record high for the year in terms of the number of addresses. Recent data from IntoTheBlock highlighted that SHIB has accumulated a sizzling 3.51 million addresses since its launch three years ago.

Notably, the uptick gained momentum last month and continued into July, when it peaked with an astonishing 115% weekly increase in new SHIB addresses. The number has increased by 22% during the last seven days and is continuing to rise.

Shiba Inu’s 81M “Token Of Affection” From Wirex

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Shiba Inu celebrated its third birthday on August 1st by unleashing a global party for the burgeoning SHIB community. With a strong return on investment [ROI] and a number of ecosystem advancements, the meme coin has hogged the limelight. One of SHIB’s payment partners dropped an exciting “gift” that bolstered the token’s adoption.

Commemorating the meme coin’s meteoric rise after 3 years, Wirex revealed that SHIB joined its platform in 2022, and the strategic alliance bore fruit by enabling its 5.5 million users to purchase, exchange, and use SHIB at more than 81 million businesses worldwide. The Shiba Inu team endorsed these claims and encouraged users of the service to do so.

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Credit- CryptoWizard

Wirex was among the platforms that praised the meme token’s robust ecosystem and outstanding accomplishments. Recently, Wirex released a promotional film inviting customers to use the payment platform, spend SHIB, and earn rewards. “Spend SHIB and get rewarded instantly,” was the tagline.

For each Wirex ATM card transaction using SHIB or other crypto assets, customers can get rewards of up to 8%. More than 250 crypto assets are supported by the digital payments platform.

Continuing its monumental strides, the meme token received a scorching boost after Alchemy Pay secured a major partnership. The prominent fiat-to-crypto payment gateway forged a formidable alliance with Checkout, a reputed payment processor catering to large global enterprises.

SHIB is one of the main beneficiaries of this revolutionary collaboration. Significant adoption advances have been fueled by Alchemy Pay’s steadfast support for a number of well-known cryptocurrencies, namely SHIB.

Shiba Inu: 1.6M% ROI in 3 Years

Launched in August 2020, the Shiba Inu token has come a long way, navigating market volatility. Despite being a mere parody coin, the development team and community remain committed to developing and expanding the ecosystem

Furthermore, the popular meme coin boasts the highest ROI of any mainstream asset, despite the challenging market phase. At press time, Shiba Inu was trading at $0.00000830. This amount represents an increase of 1,627,350% from the starting price of $0.00000000051. At this rate, a $100 investment made at the time of SHIB’s inception would be worth $1.62 million.

Shiba Inu: 2 Billion Tokens Burnt in July

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The Shiba Inu [SHIB] ecosystem has been actively reducing the number of SHIB tokens in circulation as it prepares for the highly anticipated launch of Shibarium. During July, the community successfully burned a substantial amount of SHIB tokens, totaling 2,094,566,264. These tokens were transferred to inactive wallets through 412 transactions throughout the month, as reported by Shibburn.

The token-burning activity in July 2023 marked a significant improvement compared to the previous month. In June, the community only managed to eliminate 1,653,845,435 SHIB tokens from circulation, making it a lackluster month for token burns. This was a notable decrease of 89% from the burn activity recorded in May when a substantial burn of 15,369,335,177 SHIB tokens was observed. As a result, July’s burn appeared relatively smaller in comparison.

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Shiba Inu: 2 Billion Tokens Burnt in July 6

At present, SHIB’s burn rate stands at a negative 42.47%. In the last 24 hours alone, a total of 46,161,989 tokens were burnt. The surge in token burns is expected to positively impact the value of the meme coin. If the Shiba Inu community continues to maintain this upward trend in token burning, there is a possibility that the asset’s price could reach $0.0001 sooner than initially projected.

Shiba Inu’s Present Situation

The Shiba Inu network had a positive conclusion to July, with a nearly 11% increase in value over the day. However, currently, the meme coin is going through a correction, and its price is now at $0.000008268, showing a slight daily decline of 0.62%.

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Shiba Inu: 2 Billion Tokens Burnt in July 7

As a result of this setback, the SHIB network experienced a surge in long liquidations. According to Coinglass data, a total of $245.59K worth of long positions were liquidated, while only $1.21K in short positions were liquidated during the same period. Nonetheless, despite this development, the SHIB community remains optimistic and continues to show strong interest in the coin, particularly in anticipation of Shibarium.

Massive 3 Trillion Shiba Inu Withdrawal Boosts Bullish Sentiment

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In a surprising turn of events, the mysterious cryptocurrency Shiba Inu has experienced a significant token exodus from centralized crypto exchanges, according to notable crypto analyst Ali Martinez.

Martinez’s analysis reveals an astounding withdrawal of 3.30 trillion Shiba Inu (SHIB) tokens from established exchanges during July, amounting to an impressive $28 million in value.

To support his findings, Martinez references data from the renowned crypto intelligence firm Santiment, which presents a compelling market chart illustrating Shiba Inu’s trajectory on exchanges throughout the past month.

The market chart data indicates a substantial reduction in Shiba Inu’s circulating supply on exchanges, dropping from about 87 trillion tokens at the end of June to approximately 83.39 trillion tokens by the close of July.

Of particular significance is the massive withdrawal that occurred on July 19, when at least two trillion SHIB tokens were pulled from exchanges.

Historically, investors, especially prominent holders known as whales and sharks, have withdrawn their tokens from exchanges as part of a strategy to hold them for an extended period. These tokens are often moved to secure cold wallets, thereby reducing selling pressure and contributing to potential price appreciation. The massive outflow of SHIB tokens suggests that these investors may be pursuing a long-term holding (HODL) approach, signaling positive sentiments for the cryptocurrency.

Shiba Inu’s Resilient Price Performance

Despite the substantial withdrawals, Shiba Inu’s price performance remains resilient. Data from CoinMarketCap demonstrates the cryptocurrency’s positive trajectory over the past month, with its market capitalization poised to cross the $5 billion mark, a significant increase from below $4.5 billion in June.

Adding to the optimism, Santiment’s report identifies SHIB as an unexpected winner during a lackluster trading week. Crypto sharks and dolphins have accumulated around 1.1 trillion SHIB tokens, valued at $9 million, in just two months.

The significant token exodus and the cryptocurrency’s strong price performance have left market participants intrigued. As the crypto community closely monitors Shiba Inu’s developments, anticipation grows for potential further bullish trends that may shape its future in the dynamic world of digital assets.

Related Reading:| Shiba Inu Whale Activity Shoots Up To 200% Amidst Shibarium Buzz

Shiba Inu: Will Elon Musk Make An Appearance At Shibarium’s Launch? Know Details

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Shiba Inu’s upcoming layer-2 mainnet launch has already generated a ton of excitement within the SHIB community. But now fans are even more stoked after its project lead, Shytoshi Kusama, sent a cryptic invitation to DOGE evangelist Elon Musk to attend the Blockchain Futurist Conference in Canada, where Shibarium is slated to be introduced.

Musk tweeted a picture of him donning a t-shirt that said, I love Canada. Kusama seized the chance to say “See you at the Blockchain Futurist Conference”. While the tech billionaire has not yet responded to the invitation, the tweet garnered huge attention, with many hoping to get a glimpse of the much-celebrated guest.

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Credit: https://www.britannica.com/

The SHIB Army became interested when Musk recently mentioned Shiba Inu during a playful Twitter conversation about the platform’s move to X. Initially, one of Musk’s fervent supporters tweeted that he would continue to surf the site for 6 hours a day even if it converted to a donkey. “We temporarily rebranded as a Shiba Inu dog, “No effect,” Musk said in response.

It is important to note that the remark was about the dog breed rather than the crypto asset specifically. But this nonetheless started a lengthy conversation with a SHIB influencer who took the chance to share her ideas on how Shiba Inu could help Twitter in the ‘X’ era and how the two most popular meme coins may eventually start a mutually beneficial alliance.

Shiba Inu Project Lead Drops Crucial Update

Barely weeks away from the Shibarium debut, Kusama revealed the crucial step that would firmly establish the operations of the upcoming Layer 2 blockchain as the meme token ecosystem accelerates into a new era. In order to stop further minting, the team will resign the BONE contract in the following days and mint the last of the governance token, BONE.

This is a necessary step to starting our blockchain, as a significant portion of BONE is allocated to the first role in our upcoming system, VALIDATORS. Bone will also serve as your passport to the future, being the token DELEGATORS bury to get a portion of rewards, the GAS TOKEN FOR shipping, AND technology GOVERNANCE within our new system.

Shiba Inu’s Shytoshi Kusama Reveals How BONE Will Trailblaze A New Era

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With just a few weeks away from the launch of Shiba Inu’s layer-2 protocol mainnet version, co-founder and project lead Shytoshi Kusama has dropped a major update on the Shibarium’s governance token, BONE, in his latest blog.

Kusama disclosed the critical step that will firmly establish the operations of the impending Layer 2 blockchain as the meme token ecosystem races toward a new era. The team will mint the last of the BONE in the upcoming days and renounce the BONE contract to prevent any more minting from taking place.

This is a necessary step to starting our blockchain, as a significant portion of BONE is allocated to the first role in our upcoming system, VALIDATORS. Bone will also serve as your passport to the future, being the token DELEGATORS bury to get a portion of rewards, the GAS TOKEN FOR shipping, AND technology GOVERNANCE within our new system.

BONE will be utilized to reimburse gas transactions as well as a means of rewarding validators and delegators on the Shibarium protocol. So far, 230 million Bone tokens have been minted out of a total of 250 million. With the remaining 20 million, the validators and delegators will be rewarded for their contributions to the network.

Following the update, Bone ShibaSwap, which is more famously known by its ticker BONE, shot up by more than 4% [24 hours] and over 26% [weekly] to trade at $1.52.

Shiba Inu Is Off The Leash

The Shibarium-Ethereum bridge testnet’s latest debut coincided with the meme coin hitting a new milestone, continuing its steady upward trend. Bone received 2.8 million mentions in tweets, ranking highly in terms of social sentiment on crypto Twitter.

Meanwhile, Shiba Inu is off to a blistering start as the popular meme coin’s burn rate doubled in a span of just 24 hours. This has rekindled prospects for a potential price rally after this week’s successful breakout of an ascending triangle formation.

The subsequent volatility after the breakout served as a stimulus for Shiba Inu’s current momentum in terms of burn rate, which represents the rate at which tokens are permanently removed from circulation. This was initiated by SHIB community members to increase the value of the meme coin.

Shiba Inu Woofs It’s Way To Crypto Popularity, Beats ETH & DOGE In The USA

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Shiba Inu, the popular dog-themed altcoin, has reached a momentous milestone by outshining Ethereum and Dogecoin in terms of popularity within the United States. Despite facing regulatory hurdles in the cryptocurrency market throughout this year, the country’s interest in and adoption of digital assets have been steadily on the rise.

In a rece­nt study conducted by Cryptobetting, it was reve­aled that Shiba Inu has become the­ second most searched cryptocurre­ncy in America. This particular digital asset garners monthly se­arch volumes of up to 484,000.

Bitcoin maintained its position as the­ leading cryptocurrency, with a search volume­ of 1,910,000. The search data specifically analyze­d cryptocurrencies within the top 100 base­d on their market capitalization.

The Shiba Inu bre­ed’s popularity can be attributed to the­ distinctive branding it possesses and the­ enthusiastic community known as the “Shib Army,” who e­xhibit unwavering loyalty towards the Shiba Ecosystem. Introduce­d by its pseudonymous creator Ryoshi in August 2020, this altcoin has captured the­ attention of investors and traders due­ to its potential for considerable price­ volatility.

Doge­coin has risen to become the third most popular cryptocurrency in the United States. This distinctive digital coin, renowned for its meme status, has captured significant attention with a monthly search volume of 280,000. One of the key factors driving Dogecoin’s surge in popularity is the endorsement of prominent tech billionaire Elon Musk, who has even suggested the possibility of integrating this cryptocurrency into his renowned social media platform, X (formerly known as Twitter).

Ethere­um, renowned for its smart contract functionality and co-founded by the­ visionary crypto genius Vitalik Buterin, has secure­d a prominent fourth position with 238,000 monthly searches. Note­worthy mentions among popular cryptocurrencies in the­ United States include Cardano, Ripple­ (XRP), Uniswap, Pepe, Solana, and TRON.

Shiba Inu’s Rise Fueled By Upcoming Projects & Initiatives

The recent surge in popularity of Shiba Inu can also be ascribed to upcoming initiatives, particularly Shibarium, a layer-2 scalability solution that pledges to facilitate faster transactions with minimal gas fees.

The forthcoming launch of Shibarium in August, coupled with the unveiling of the World Paper, which delineates the altcoin’s comprehensive roadmap towards decentralization and partnerships, has sparked considerable interest in the cryptocurrency.

The Blockchain Futurist Conference in Toronto, where Shiba Inu will serve as the title sponsor, is expected to witness the unveiling of Shibarium and other projects, solidifying Shiba Inu’s position in the cryptocurrency market.

The surging popularity of cryptocurrencies like Shiba Inu and others reflects a widespread recognition of blockchain technology’s transformative impact on diverse sectors such as finance, art, music, and gaming. This trend heralds a future defined by increased transparency, heightened security, and continuous innovation across these industries.

Related Reading | Litecoin Halving Sparks Aggressive Accumulation Among Key Traders, Santiment Reports

Shiba Inu Surges To AltRank™ 1, Outperforming 4,489 Coins In Crypto Market: LunarCrush

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LunarCrush, the renowned cryptocurrency data analytics platform, took to Twitter to announce an impressive milestone achieved by Shiba Inu. Based on a comprehensive evaluation of relative combined social and market activity, the digital token Shiba Inu has soared to claim the coveted AltRank™ 1 position, surpassing a staggering total of 4,489 coins currently circulating in the cryptocurrency market.

AltRank™, a unique me­tric introduced by LunarCrush, serves as a powe­rful indicator of how well a coin performs within the broade­r crypto landscape. By analyzing both social media engage­ment and market activity data, AltRank™ provides valuable­ insights into where a coin stands in the digital asse­t ecosystem.

The Shiba Inu’s incre­dible rise to the top spot on the­ AltRank™ leaderboard showcases its impre­ssive presence­ and widespread popularity across multiple social me­dia platforms.

However, excitement ripples through social media as SHIB enthusiasts gear up for the forthcoming Shiba Inu-based layer 2 blockchain, Shibarium. The developers recently unveiled a live bridge for public testing, enabling seamless token transfers between Shibarium and Ethereum networks. 

Chief developer Shytoshi Kusama disclosed that initially, users could transfer testnet ether tokens to Shibarium. Expected to commence operations next month, each transfer should take a maximum of 30 minutes. 

Notably, real assets were not yet supported as of Friday. The bridge’s introduction is a game-changer as it paves the way for efficient “Layer 2” protocols, alleviating scaling and data bottlenecks. 

Meanwhile, DoggyDAO, a decentralized autonomous organization governed by token holders, will fund projects on the Shibarium blockchain upon its launch. The testnet’s vibrant activity, with 27 million transactions from around 16 million wallets in July, underscores the network’s growing demand.

 Shiba Inu Surges To Reclaim Top 15 Crypto Spot

The infamous SHIB token has experienced a rollercoaster ride in the final months of 2022. After reaching a peak of $0.00001739 in August, the price encountered a downturn, struggling to hold on to its gains.

However, the tides have turned for Shiba Inu, as it made a powerful comeback. Over the past seven days, SHIB witnessed a remarkable surge of 8.48%. This boost propelled it past other prominent cryptocurrencies like Wrapped Bitcoin and Bitcoin Cash, securing the 14th position in the market cap rankings.

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CoinMarketcap

As of the latest update, the current SHIB price stands at $0.000008458, and the circulating supply totals 589,346,914,631,298 SHIB. The 24-hour trading volume registered at $162,810,201, indicating significant investor interest in this crypto’s recent resurgence.

Related Reading | Ripple Partners With FPC To Improve Global Payments With Crypto

Shiba Inu Emerges As Top Gainer Among Crypto Assets With Massive Accumulation Trend

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Shiba Inu (SHIB) has captured the spotlight as it enters the list of top gainers among the 100 most considerable crypto assets over the past 24 hours. Since June, this bullish surge has come amidst a significant accumulation trend observed among shark and dolphin addresses in the SHIB ecosystem.

Leading crypto behavior analytics platform, Santiment, revealed shark and dolphin wallet addresses, holding 10 million to 1 billion SHIB, have accumulated a 1.11 trillion SHIB, currently valued at $9 million. The tweet contained an erroneous statement, suggesting these addresses held up to 100 billion SHIB.

The Journey Of Shiba Inu’s Accumulation Trend

The accumulation phenomenon began after a period of distribution when the price of Shiba Inu experienced fluctuations, dropping from the $0.00001 territory in mid-May. The decline led to a price range between $0.000008628 and $0.000009, sparking selloffs throughout the rest of May.

However, as the price of SHIB dipped below the $0.000008 threshold, it presented an opportunity for investors to accumulate the asset at discounted prices. This enticing prospect resulted in investors building up their holdings, marking the commencement of the accumulation spree in early June.

Despite further price drops, the buy-the-dip pattern persisted, with addresses amassing more SHIB tokens. Notably, the accumulation trend endured even as Shiba Inu’s price reached a record low of $0.00000543 on June 10, followed by a moderate recovery.

As a result of the sustained buying spree, addresses holding between 10 million and 1 billion Shiba Inu tokens now cumulatively possess a balance of 32.49 trillion SHIB, currently valued at a substantial $267 million.

Amid the ongoing accumulation, the market witnessed notable surges in large transactions on July 6 and mid-July, coinciding with price lows. Surprisingly, these whale transactions triggered remarkable comebacks, propelling SHIB to reach a high of $0.00000853 on July 15.

Shiba Inu’s Recent Performance

Subsequently, Shiba Inu experienced fluctuations below the July 15 high and remained consolidated below the $0.000008 price threshold until recently. Nevertheless, SHIB has demonstrated resilience against market bearishness, achieving significant gains while other assets trade flat.

SHIB exhibited a remarkable intraday gain of 4.73% yesterday, closing the day at $0.00000816. This marked the first time in nearly two weeks that the asset concluded above $0.000008 on the daily timeframe.

Shiba Inu is trading at $0.00000823, displaying a remarkable 5.52% surge over the past 24 hours and an impressive 4.97% gain over the last week. Consequently, SHIB is the fourth biggest gainer among the top 100 assets in the last 24 hours.

Related Reading: | Shiba Inu Price Forecast: Doubling the Value If Two Zeroes Are Eliminated

Shiba Inu Price Forecast: Doubling the Value If Two Zeroes Are Eliminated

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Since February 2023, Shiba Inu (SHIB), a popular dog-themed cryptocurrency, has been experiencing a decline in its value. Despite the overall recovery in the market, SHIB has been struggling to surpass the resistance level at $0.000008. Nevertheless, the lackluster performance of the project hasn’t deterred investors from aiming to reduce the number of decimal zeros in its price.

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Shiba Inu Price Forecast: Doubling the Value If Two Zeroes Are Eliminated 11

If Shiba Inu (SHIB) were to remove two zeros from its current price, it would result in an impressive growth of 9900%. For instance, if an investor were to buy $1000 worth of SHIB at the present prices, they would receive approximately 128,205,128 tokens. Considering SHIB’s potential rally of 9900%, the same investment would then be valued at around $100,000.

Shiba Inu’s Two Zeros Removal: How Many Tokens to Reach Millionaire Status?

If SHIB were to remove two zeros from its current price, $1 million would be equivalent to approximately 1,282,051,282 tokens. Presently, these tokens are valued at around $10,000. Hence, an investor with just $10,000 could potentially become a millionaire with SHIB, provided the project successfully eliminates two zeros from its price.

However, achieving this reduction in price would require some significant efforts from Shiba Inu (SHIB). As mentioned earlier, the project has experienced notable gains of around 9900% in the past, making the possibility of such a change feasible, though not without challenges. To accomplish this, SHIB must generate a substantial increase in demand among investors. The upcoming release of its blockchain, Shibarium, could contribute to expanding the token’s use cases, thereby driving up demand.

Moreover, SHIB would also need to significantly decrease the circulating supply of its tokens. There are speculations about Shibarium introducing a new burn mechanism that might result in the monthly reduction of trillions of tokens. However, these burns would only have a significant impact on the asset’s price if there is substantial demand.

As of the current time, Shiba Inu (SHIB) is trading at $0.00000780, experiencing a decline of 0.9% in the last 24 hours.