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Shiba Inu’s Address Triumph: 3.6M Strong & Growing

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Shiba Inu has buzzed the community with a pivotal milestone. Demonstrating its unwavering popularity in the face of recent price fluctuations, SHIB’s address count reached an unprecedented surge of over 3.6 million. The latest stats sourced from IntoTheBlock not only highlight the meme token’s ability to maintain its user base but also showcase a surge in the number of addresses holding a balance.

At present, a whopping 1.25 million addresses boast a Shiba Inu balance, underscoring the enduring allure of this cryptocurrency. The uptick in the number of Shiba Inu addresses goes beyond being merely a statistic; in fact, this is a crucial indicator of gauging the cryptocurrency’s performance. In the short term, the total number of addresses with a balance serves as a key metric of trader sentiment, often foreshadowing price movements.

Over the long haul, this indicator reflects the sustained interest in holding a specific cryptocurrency. A surge in addresses with a balance is universally regarded as a positive sign, indicative of a robust and expanding user base. Lately, crypto enthusiasts have received a glimpse of the forthcoming initiatives within the meme token sphere.

Lucie, the marketing expert for Shiba Inu, shared a video teaser featuring the enigmatic leader of the project, Shytoshi Kusama, alongside another undisclosed developer. This cryptic duo assumed the spotlight to unveil intriguing information about an upcoming application designed to elevate the project’s community involvement, foster connections, and stimulate creative cooperation.

Shiba Inu Team Teased “Super App” Shiba Hub

This inventive application, named Shiba Hub, has been hailed by the Shiba Inu team as an “entryway to something remarkable.” Dubbed a “super app” by the unidentified developer, Shiba Hub is poised to inject fresh vitality into the cryptocurrency community while seamlessly integrating with the unique Shibarium ecosystem. It extends an invitation to the community to embark on an innovation-driven journey and encourages them to play pivotal roles in a project poised to make a lasting impact.

This recent revelation coincides with the Shiba Inu layer-2 Shibarium blockchain’s recent integration with the token approval management service known as Revoke.cash. This integration aims to enhance the security of SHIB community members by enabling them to manage token approvals and safeguard their assets against potential fraudulent activities.

Shiba Inu Security Surge: Shibarium and Revoke.cash Unite

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In a significant stride towards bolstering the security of the Shiba Inu (SHIB) community, Shibarium, the blockchain platform at the heart of the SHIB ecosystem, has recently joined forces with Revoke.cash, a token approval management service. This integration aims to provide SHIB holders with robust tools to safeguard their assets and maintain control over their wallets, effectively fortifying the entire SHIB ecosystem against potential scams.

Revoke.cash’s groundbreaking service offers Shiba Inu users the ability to regain control over their wallets when interacting with decentralized applications (dApps) such as Uniswap and OpenSea. These dApps often require token approvals, essentially granting them permission to spend users’ tokens and NFTs. Without proper management, these approvals can pose a security risk, potentially allowing unauthorized access to users’ assets.

By integrating Revoke.cash, Shibarium empowers SHIB holders to scrutinize and revoke these approvals at will, rendering their assets inaccessible to potential threats. This proactive approach to wallet security is crucial in an ever-evolving digital landscape.

It’s essential to note that while Revoke.cash enhances security by preventing unauthorized access, it cannot recover already stolen funds. Therefore, maintaining proper wallet hygiene by regularly revoking active approvals is vital for Shiba Inu holders. However, for those who have fallen victim to vulnerabilities like “sweeper bots” due to compromised seed phrases, creating new wallets remains the safest course of action.

Shiba Inu’s Meteoric Blockchain Rise

Shibarium has consistently achieved remarkable milestones, reflecting its growing user base and transaction volumes. As of September 26, the blockchain boasts an impressive 835,551 blocks, facilitating over 3 million transactions and hosting 1,250,806 wallet addresses. Additionally, the native token of the SHIB ecosystem, BONE, has surged in popularity, amassing a market capitalization of $206 million and currently trading at $0.83.

The collaboration between Shibarium and Revoke.cash demonstrates a commitment to the security and well-being of the SHIB community. With these enhanced security measures in place, Shiba Inu holders can navigate the world of decentralized finance with greater confidence, knowing that their assets are shielded from potential threats. As the SHIB ecosystem continues to thrive and evolve, these advancements are a testament to its enduring strength and resilience.

Shiba Inu’s Shibarium Soars With 3 Million Transactions In A Month

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Shiba Inu’s highly acclaimed blockchain venture, Shibarium, has witnessed a remarkable surge, amassing nearly 3 million transactions in a mere month. Shibariumscan data has unveiled this astounding achievement, showcasing that the layer-2 protocol has executed a staggering 2.90 million transactions, with less than a 5% gap to reach a new all-time high. The scaling solution has been steadily amassing a substantial and devoted following due to its impressive resurgence in the crypto world.

Within a week of its relaunch, Shibarium registered an astonishing 600,000 wallets, a number that swiftly escalated to 1 million in the subsequent weeks, demonstrating its unwavering resilience and appeal. While Shibarium has been triumphant in terms of adoption, there are ongoing dialogues and apprehensions concerning the potential escalation of gas fees. This concern is particularly pertinent when contemplating its potential repercussions on the adoption and valuation of Shiba Inu.

Currently, transaction fees on Shibarium are almost inconsequential, but there is a looming prospect of these fees surging as usage continues to grow. Lucie, the marketing luminary of Shiba Inu, encouraged the community to embrace the layer 2 and actively engage with it to contribute to token burns. She also aimed to dispel the misconception that SHIB burns are solely the responsibility of developers, stressing that it’s a collaborative endeavor within the community.

The Shibarium community members would stand to win by actively leveraging the platform to initiate token burns, leading to the reduction of tokens in circulation and consequently increasing their value for all token holders.

Shiba Inu Firm Release RPC Nodes For Developers

Lucie also underscored the secure asset storage options available within Shibarium, drawing comparisons with traditional exchanges. With a focus on her own use of Opensea, she warmly invited them to explore the possibility of integrating Shibarium, thereby expanding the ecosystem’s reach.

In a related development, NOWNodes, a prominent blockchain infrastructure company, has recently introduced the Shibarium RPC Full Node, specifically tailored for Shiba Inu’s layer-2 network. An RPC Full Node serves as a developmental environment that simplifies direct interaction with a blockchain.

NOWNodes has expressed that this innovative tool will open up limitless opportunities for developers and cryptocurrency entities seeking to build on Shibarium. The company had previously voiced its support for SHIB’s layer-2 network back in February of this year.

Shiba Inu Community Divided Over Shibarium Migration & Token Burns

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Lucie, the Official Marketing Strategist for the Shiba Inu ecosystem, has ignited a spirited debate within the SHIB community with a recent tweet addressing the burning issue of Shibarium and the burning of SHIB tokens. The tweet has raised questions and concerns among Shiba Inu enthusiasts about the project’s direction and the role of the community in shaping its future.

In the tweet, Lucie posed a rhetorical question, asking when Shibarium would initiate the SHIB token burn. However, Lucie quickly dismissed this as the “wrong question” and redirected the focus to a more pertinent query: “When will you all migrate from exchanges and start using Shibarium?”

Lucie’s tweet highlighted a fundamental point regarding SHIB token burns – they are triggered by transactions within Shibarium, not by mere discussions or tweets about burning tokens. Lucie emphasized that with millions of SHIB holders, the community should actively support this transition. 

The current transaction fees within Shibarium are almost negligible, but these fees may increase as usage grows. Lucie urged the community to embrace Shibarium and actively utilize it to contribute to the token burns.

The marke­ting strategist also clarified that the misconce­ption about Shiba Inu (SHIB) burns being solely the re­sponsibility of developers is incorre­ct. They emphasized that it is a collaborative­ effort within the community. 

The community members of Shibarium actively utilize the­ platform to initiate burns, resulting in the burning of more­ tokens. This process bene­fits all token holders as it increase­s their value. 

Lucie highlighted the secure asse­t storage option available on Shibarium, comparing it to traditional exchange­s. With her primary use of Opense­a in mind, she cordially invited them to e­xplore the possibility of integrating Shibarium and expanding the ecosystem’s re­ach.

Shiba Inu Community Debate Erupts Over Tweet

The tweet sparked a lively debate within the SHIB community, with members expressing various opinions. One community member pointed out that the announced mechanism for token burns had not been made available yet. Lucie countered this by asserting that all the relevant information was available in the project’s documentation and was indeed functional on the blockchain.

One me­mber expressed disappointment over the limited burning of SHIB tokens and the lack of prior communication on this matter. The­y proposed moving their assets e­lsewhere. In re­sponse, Lucie encouraged a deeper unde­rstanding of SHIB tokenomics, highlighting that token burns are continge­nt upon community engagement and participation.

While some­ members of the community may have­ questions and concerns, it is clear that Lucie­ and the SHIB team are dedicated to nurturing an involved and well-informe­d community as they progress towards Shibarium adoption and token burns.

Related Reading | Shiba Inu’s Soaring Popularity in Canada: Insights from Google Trends

Shiba Inu’s Shibarium Soars with ‘Zero Limits’ Tool for Developers

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NOWNodes, the well-known blockchain infrastructure firm, has unveiled the Shibarium RPC Full Node designed for Shiba Inu’s (SHIB) layer-2 network. An RPC Full Node is a development environment that streamlines direct interaction with a blockchain. According to NOWNodes, this novel tool is set to provide developers and cryptocurrency companies with limitless possibilities when it comes to building on Shibarium. The company had earlier declared its support for SHIB’s layer-2 network in February of this year.

Following the deployment of their Shibarium nodes, NOWNodes is actively seeking partnerships. One noteworthy collaboration is with Tangem, which is integrating Shibarium into its offerings. Tangem had previously introduced a cold wallet focused on Shiba Inu (SHIB) in July. NOWNodes communicated this information through X, stated, “Build, create, enhance—we’re here to support builders on Shibarium!”.

Despite a problematic launch characterized by overwhelming traffic that forced a temporary network pause, Shibarium consistently achieves fresh achievements. Daily transaction volumes have now exceeded 200,000, accumulating a total of more than 2.5 million transactions. Conversely, the quantity of wallets has surpassed the 1.2 million threshold.

Shiba Inu’s Resurgence: Is Shibarium the Key to Recovery?

In spite of the growth observed in Shibarium, Shiba Inu’s (SHIB) price continues to face challenges. SHIB has registered a 5% decline over the past week, and this descent has persisted since February 2023. Notably, the Shibarium launch did not have a significant impact on SHIB’s price.

Shiba Inu

Nevertheless, the project is striving to expand its utility through ongoing developments on the new network. As more use cases materialize, there is potential for an increase in demand for the token, which may subsequently drive its price higher. Additionally, Shiba Inu (SHIB) will also depend on a broader recovery in the overall cryptocurrency market to recoup its losses. Presently, a substantial 88% of SHIB holders find themselves at a loss, while only 9% are currently in a profitable position.

Shiba Inu Faces a Storm as Gas Fees Soar on Shibarium

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Within the Shiba Inu community, adaptability and creativity hold immense significance in the swiftly changing cryptocurrency market. One particular innovation that has gained substantial recognition is Shibarium. While the focus has primarily been on increasing adoption, there are ongoing discussions and concerns regarding potential hikes in gas fees. This concern is especially relevant when considering its potential impact on the adoption and valuation of Shiba Inu.

Lucie, a member of the Shiba Inu team, recently highlighted the possibility of gas fees experiencing an upward revision. This situation contradicts the established reputation of Shibarium as a layer-2 protocol celebrated for its swift and cost-effective transaction capabilities. In her post, she mentioned that the growing utilization of Shibarium leads to heightened network congestion, subsequently resulting in increased gas fees. The specifics of the fee structure have not yet been disclosed by the Shibarium team, leaving room for the possibility that the fees could surpass initial expectations. Nevertheless, not everyone within the community welcomed this potential scenario.

Shiba Inu’s Philosophy: Burns with Purpose

Shib Informer, using X (formerly Twitter), outlined a series of arguments explaining the potential drawbacks of raising fees on Shibarium.

Burns vs. Demand: Vitalik’s Massive SHIB Token Burn

One pivotal episode in the Shiba Inu narrative involved the substantial burning of SHIB tokens, a move orchestrated by Vitalik Buterin. Nevertheless, this substantial token burn happened concurrently with a notable market correction, highlighting a vital lesson: merely burning tokens doesn’t inherently ensure a positive effect on SHIB’s price. Instead, what fueled the subsequent price surge was the increased market demand that materialized months after the token burn.

The Strategy for Boosting SHIB’s Value and Adoption

For SHIB’s value to increase steadily and for it to gain broader adoption, it is crucial to adopt a more dependable strategy. This strategy revolves around offering incentives to SHIB holders to keep their tokens and extending the usefulness of Shibarium. By doing so, it not only boosts SHIB’s market capitalization but also cements its position as a more influential participant in both the cryptocurrency sector and the global economy.

Numerous Projects Contribute to Success

While an individual project may not wield significant influence on its own, it’s important not to overlook the collective effect of multiple projects utilizing Shibarium. Low fees act as a catalyst, motivating these new initiatives to engage in the ecosystem without incurring substantial financial constraints.

The Vital Role of Low Transaction Fees

The key to accomplishing these goals relies on effectively utilizing Shibarium. To draw in a broad range of users and projects, Shibarium must keep transaction fees at a minimal level. While substantial investors certainly have an important role, the genuine engine of success is widespread adoption, driven by numerous individuals and projects.

Shib Informer emphasizes that mass adoption remains the primary route to success. As development teams work diligently to enhance Shibarium’s usage, it’s crucial to recognize that value is not solely derived from token burns but primarily from growing demand. While the idea of raising Shibarium fees might be tempting, it is essential to maintain a broader outlook. The true catalyst for advancing the Shiba Inu ecosystem is considered to be the demand driven by Shibarium’s adoption.

Shibarium Skyrockets With Record Transactions And Burn Rate Surge

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In a remarkable turn of events, the Layer-2 blockchain Shibarium has witnessed an unprecedented transaction surge over the past few days, as revealed by Shibariumscan explorer. Over the past few days, the network has catapulted to 1,582,853 transactions, marking a historic high for the Shiba Inu community.

This surge is a testament to the prowess of the Shibarium Layer-2 solution, a brainchild of the Shiba Inu development team within the Ethereum ecosystem. With 541,046 blocks already mined, the network is operating at peak efficiency, sheet to showest capabilities.

While transaction volumes are skyrocketing, the burn rate of SHIB, a vital metric for the community, has also experienced a meteoric rise. In a recent update, the Shibburn tracking service revealed a staggering 224.31% surge, catalyzed by 14 transactions. Such an impressive leap in burn rate underscores the dedication of Shiba Inu enthusiasts toward fortifying the ecosystem’s sustainability and long-term viability.

SHIB Record Burns, Fuels Shibarium’s Rise

These transactions are the incineration of colossal quantities of SHIB meme coins, with 20,514,086 SHIB, 14,447,005 SHIB, and 10,487,173 SHIB going up in flames. These monumental burns demonstrate a resounding commitment from the Shiba Inu community toward enhancing the ecosystem’s sustainability.

This surge in burn rate is particularly significant in light of recent trends. The burn rate percentage had languished at 65% just a day prior. In the days leading up to this surge, the community had faced challenges in achieving substantial SHIB burns, resulting in the indicator dipping into the red.

Shiba Inu is trading at $0.00000761 in the current crypto landscape, with a substantial 24-hour trading volume of $61,321,374. Over the past day, Shiba Inu has demonstrated a modest 0.48% increase in its valuation. Impressively, the circulating supply of SHIB coins stands at a staggering 589,346,914,631,298, cementing its presence in the market.

The Shibarium network stands at the forefront of innovation, propelling the Shiba Inu ecosystem to new heights. As transaction volumes and burn rates surge, the community’s dedication to the project’s success remains unwavering, setting the stage for a promising future.

Related Reading:| Shiba Inu Surges To 6th Place Among American Crypto Favorites

Shiba Inu’s Shibarium Sparks Controversy: To Burn or Not to Burn?

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Lucie, the Shiba Ecosystem Marketing Strategist, took to Twitter to ignite a discussion on the community’s burning question: Should we utilize Shibarium to burn $SHIB tokens? In a tweet thread, Lucie argued that Shibarium adoption was crucial for the token’s future, but this path would inevitably lead to higher gas fees.

The Call for Shibarium Adoption

Lucie, a prominent figure within the Shiba Inu ecosystem, made a fervent case for adopting Shibarium, emphasizing that not using it would result in the preservation of $SHIB tokens.

“We NEED TO USE Shibarium. It won’t burn $SHIB if you don’t use it!” Lucie exclaimed, underlining the importance of community involvement in onboarding millions of users to this innovative platform. 

While Lucie hinted at forthcoming information about burns, she noted that detailed explanations had been available on the official Shibarium documentation site (docs.shibariumtech.com) for the past six months.

The use of Shibarium, as Lucie pointed out, was not without its consequences. Stated, “Now, can we expect higher fees? OF COURSE! The more you use Shibarium, the higher the traffic, which drives up gas fees.” Lucie’s concern over the potential fee increase was met with a mixed response from the community.

To shed more light on this matter, Lucie shared a screenshot of a conversation with Shytoshi Kusama, Shiba Inu’s lead developer, dated September 22, 2022, at 17:22. In the conversation, Shytoshi addressed the perennial request from some community members to burn the entire supply of SHIB.

This revelation from Shytoshi Kusama painted a clearer picture of the challenges and complexities involved in the decision to burn a substantial portion of SHIB tokens. It aligned with Lucie’s call for the community to consider reliable sources and avoid buying into unfounded rumors.

Lucie reminded the community that the previous all-time high (ATH) for $SHIB had been achieved with no burns and relatively limited adoption compared to the present scenario.

Lucie concluded the thread with an intriguing prediction: “$SHIB will be a governance token with global adoption – the next ATH could be interesting.” This statement left the Shiba Inu community pondering the potential future trajectory of their beloved token.

However, only time will reveal whether the path to burning $SHIB tokens will be chosen or if the community will opt for an alternative route to achieve its goals.

Related Reading | Cardano vs. Meme Coins: A Clash of Substance and Speculation

Shiba Inu’s Shibarium Soars with 1M Wallets in Just 2 Weeks!

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In a remarkable turn of events, Shiba Inu’s newly launched layer-2 blockchain, the Shibarium network, has surpassed a significant milestone by reaching over 1 million wallets. This meteoric rise occurred just two weeks after the network’s initial launch on August 28. While this achievement signals growing interest and adoption, it also reveals some underlying challenges.

As of September 3, the Shibarium blockchain has witnessed nearly 100,000 transactions, with a peak activity of 132,000 transactions on August 25. This robust network activity indicates a substantial user base actively engaging with the platform.

However, despite the surge in network activity, the total value locked (TVL) on Shibarium remains relatively low at just $1.06 million. This discrepancy suggests that users are deploying only small amounts of capital on the network, possibly due to concerns or uncertainties about its stability and reliability.

In response to these challenges, the Shibarium development team has taken proactive measures. They are collaborating with third-party bridges to facilitate the seamless transfer of other tokens onto the Shibarium blockchain. This strategic move aims to attract more investors and expand the network’s ecosystem.

Additionally, the team has announced plans to renounce the contract for its governance token, Bone (BONE). This decision reflects their commitment to decentralization and transparency, fostering trust among users and potential investors.

Shiba Inu Ecosystem: Lending, Borrowing, and Staking Opportunities

Looking ahead, Shibarium plans to enhance its network by adding more validators in the coming weeks. This expansion will contribute to the network’s security and overall robustness, addressing some of the technical hiccups experienced during its initial launch.

Shibarium’s ecosystem offers a range of tokens, including Shiba Inu (SHIB), Bone (BONE), and Leash (LEASH), enabling users to participate in lending, borrowing, and staking to earn rewards. Despite these enticing opportunities, the expected price uplift for these tokens following the Shibarium launch has not materialized, leaving many Shiba Inu holders disappointed.

In conclusion, Shiba Inu’s Shibarium network has achieved an impressive milestone with over 1 million wallets, demonstrating a rapid rise in user adoption. However, challenges such as low total value locked and unmet price expectations for ecosystem tokens remain. The proactive steps taken by the development team, including bridging efforts and plans for network expansion, indicate a commitment to addressing these challenges and fostering the network’s growth and stability in the future.

Shiba Inu’s Shibarium Network Gears Up for 1 Million Transactions Milestone

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Shiba Inu’s lead developer, Shytoshi Kusama, has recently announced a significant milestone for the Shiba Inu ecosystem. In a blog post, Kusama revealed that the Shibarium Layer 2 (L2) network is gearing up to celebrate a whopping 1 million transactions. The network has positioned itself as one of the fastest and most cost-effective solutions in the blockchain space, earning admiration even as it keeps gas prices low.

The blog post highlights an important update­ regarding the availability of the hoste­d version of Blockscout Explorer on Shibariumscan. This strategic de­cision allows the Shibarium protocol team to focus on network de­velopment and upgrades, while­ the Blockscout team ensure­s seamless operation of the explorer and maintains a fully indexe­d chain.

Kusama urged use­rs to utilize the explore­r for conducting independent re­search (DYOR) and verifying new as we­ll as existing contracts deployed on the­ network. The upcoming promotion of projects developed on Shibarium relies heavily on contract verification, underscoring its significance­.

Kusama also provided a ve­rified contract address for WBONE and made an announce­ment regarding the mapping of additional toke­ns to the bridge. These tokens specifically include USDT, USDC, DAI, WBTC, and XFUND. This strate­gic move is anticipated to bolster liquidity and improve accessibility within the Shibarium ecosyste­m.

Working To Bring More Tokens To Shibarium

In a significant development, Shiba Inu is actively collaborating with several third-party bridges to expand token bridging capabilities on the network. Furthermore, the team plans to renounce the Bone contract in the coming week and introduce more validators to strengthen the network’s security and decentralization.

Kusama conveyed a powerful message about its open nature, inviting everyone to contribute and develop on the platform. The Shiba team envisions a future where they focus on innovation and building technologies atop Shibarium, empowering the community to lead self-sovereign lives. They passionately encourage developers to build on Shibarium, hoping the next groundbreaking innovation will emerge from this thriving ecosystem.

The Shiba Inu community and the­ L2 network are set to e­mbark on an exciting journey in the world of blockchain te­chnology with 1 million transactions on the horizon. Their commitment to growth and innovation furthe­r propels their path.

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