It was one of the most-anticipated changes in the digital asset industry, and the Shiba Inu (SHIB) Layer-2 network, Shibarium, has reached many new milestones since Puppynet came out. Also, Twitter user @LucieSHIB says that 71 tokens have already been used in the Beta.

In the same post, a screenshot shows that the number of transactions on Shibarium’s Puppynet has increased significantly. On the other hand, the tokens that have been sent out and other milestones that have been reached are encouraging when you think about what could be done with the Shibarium Mainnet when it finally arrives. READ MORE💹🗒️>> https://t.co/arwQNCz7hu

#SHIB #SHIBARIUM #crypto2023 #Altcoin #dyor

Crypto analyst and trader Ali Martinez, known for an active social media presence, highlights a significant surge in activity focused on the Shiba Inu (SHIB) token. According to Santiment data, SHIB holders have been making large transfers to their own wallets in July. This indicates that the community is eagerly awaiting the launch of Shibarium's mainnet, which has raised hopes for an expected SHIB price increase.

SHIB Holders Prepare for the Launch of Shibarium

The Shiba Inu community is actively preparing for the start of the Shibarium mainnet by moving their SHIB tokens to their personal wallets on a large scale. Analysts view this move as a positive sign of an imminent increase in SHIB's price.

SHIB Takes Center Stage at the Blockchain Futurist Conference

The Blockchain Futurist Conference, to be held in Toronto, Canada, in mid-August, will feature SHIB as one of the main sponsors. During the conference, the SHIB team will provide detailed information about the Layer 2 Shibarium blockchain and may announce its launch. #SHIBA

SHIB Team to Launch a Multi-participant Hackathon for SHIBARIUM

At the Blockchain Futurist Conference, the SHIB team will organize a multi-participant hackathon where developers can create original dApps using the Shibarium beta Puppynet. This event aims to promote SHIB-branded projects and encourage developer contributions to the network. #SHIBAINU #SHIBARIUM

Shibarium Update from the Mysterious SHIB Head Developer, Shytoshi Kusama

In a recently published blog post, the mysterious SHIB head developer, Shytoshi Kusama, revealed that the SHIB development team plans to mint the remaining supply of the Shibarium gas token BONE and abandon the BONE contract. This move is considered a significant step towards the launch of Shibarium, and BONE is expected to play a crucial role in technology governance within the new system.

In Summary

As the SHIBA INU community eagerly awaits the launch of Shibarium, significant developments such as SHIB token taking the spotlight at the Blockchain Futurist Conference and updates from the enigmatic SHIB head developer, Shytoshi Kusama, are drawing attention. These developments provide important clues about the future of the SHIB ecosystem and bolster the community's hopes. $SHIB

#ShibaInu is celebrating its third birthday today, boasting an impressive return on investment (ROI) amid ecosystem developments.

#SHIB #SHIBARIUM #SHIBARMY #crypto2023

According to data from crypto intelligence portal IntoTheBlock, the number of Shiba Inu tokens purchased in the last 24 hours reached 2.84 trillion. The figure alone does not tell us much, but if you contrast it with the volume of SHIB tokens sold, an interesting question arises.

It turns out that there were 203.22 billion more SHIB bought than sold. Moreover, since Sunday, the volume of purchases of Shiba Inu tokens has exceeded sales by 407.81 billion SHIB.

Right now, the number of so-called bear and bull addresses is in equilibrium, with 20 large wallets trading more than 1% of the total SHIB volume on each side. Nevertheless, for the last seven days, the cumulative number of large sellers exceeds that of buyers, by 141 vs. 130.

Shiba Inu (SHIB) price action

Thus, it can be stated that there is a particularly persistent struggle between buyers and sellers around SHIB right now. At the same time, looking at the price action of the token, the views of each side of this confrontation become understandable.

After rising more than 12% over the past three weeks, the price of the Shiba Inu token once again hit a critical resistance level at $0.0000119 per token, from which a sell-off followed. This is where the further direction of SHIB's price movement in the medium term will be determined. Who will get into the trend, bulls or bears, is an open question.

#SHIB #SHIBARIUM #crypto2023 #crypto #Binance

Bard has identified several factors that can contribute to the increase in Shiba Inu prices. These factors include developer adoption of Shibarium, its efficiency and scalability, and positive news surrounding the Shiba Inu ecosystem. However, negative influences such as a general decline in the cryptocurrency market or unfavorable news can also have a negative impact on Shiba Inu's price.

Bard has provided various price predictions for Shiba Inu from different sources, including Coinpedia, which predicts the price of SHIB to be around $0.0000259 by the end of this year. Another forecast from CryptoNewsZ expects the SHIB price to reach $0.0000289 in 2023, while Thenewscrypto's prediction is not as optimistic, ranging between $0.00001419 and $0.00002.

At the time of writing, the price of Shiba Inu is $0.000008597, which has increased by 1.31% in the last 24 hours and by 11.19% compared to the past seven days. The digital currency currently faces a strong support level at $0.000007593 and a resistance level at $0.000009143.

In the meantime, cryptocurrency market analyst Ali Martinez revealed that over 3.30 trillion Shiba Inu tokens, worth approximately $28 million, were withdrawn from popular cryptocurrency exchanges in July.

This mass movement of Shiba Inu tokens indicates that investors, including whales and large traders, are transferring their tokens to cold wallets for long-term storage. Such actions typically reduce selling pressure in the market and help to increase the price over time.

Market data indicates that the price of Shiba Inu has been on a positive trend over the past month, with its market value approaching $5 billion.

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$SHIB

#Binance

According to a recent tweet by #Shibburn explorer, last month, the #Shiba Inu community transferred a total of 1,653,845,435 SHIB meme coins to dead-end wallets.

🔥🔥🔥 1,653,845,435 $SHIB tokens have been burned in the month of June with 164 transactions. #shib

— Shibburn (@shibburn) July 1, 2023

If the amount of SHIB burned over the past month looks more or less substantial, daily burns are still going up and down, often dropping deep below the zero level and drowning in the red.

On June 30, the burn rate of Shiba Inu showed a 1,800% surge when 50,258,924 SHIB were locked in unspendable wallet addresses. However, the daily rise in SHIB burns has been only noticed a couple of times this week.

In June, the lead developer Shytoshi Kusama posted a few cryptic tweets that may have inspired the SHIB community to start burning more of those meme coins. Those were tweets about “Something physical coming” and “SHIB going somewhere”.

The former is to do with a new partnership of SHIB with Shibcals – a team that transfers SHIB “into the physical world” and produced SHIB-themed clothing, merch, goods and other things that can actually be touched, not just seen on a computer/smartphone screen.

The second tweet and a Telegram message of Shytoshi posted in the “Shibarium Tech” channel stated that SHIB was “going somewhere”. Kusama then specified that this “somewhere” was “outside the USA”.

Some believe that the SHIB team is going to head for Canada soon to participate in the ETHToronto conference. This would be paying homage to Vitalik Buterin (Shiba Inu was initially launched on the Ethereum chain) and perhaps the launch of the Layer-2 solution Shibarium will also be conducted there in Canada.

#Where? Will the launch of #shibarium‘s mainnet be released in Toronto, Canada - the birthplace of Ethereum? This is a naked tribute to @VitalikButerin . pic.twitter.com/ufO41ltzYS

— $BONE + Ai = #SHIBARIUM (@shib555) June 29, 2023

As reported by U.Today yesterday, Shytoshi posted in Telegram that he “can’t change the date or plan”, “everything is already set”, he added, “it’s called a launch strategy”.

The testnet of Shibarium was launched on March 11 and since then it has reached many significant utility milestones. As of now, there are 17,019,690 linked wallets and 25,955,919 transactions conducted in total, according to Puppyscan.#crypto2023

$SHIB

Shiba Inu, a cryptocurrency project, has captured significant attention in the crypto market, securing the top position on LunarCrush's rankings among more than 4,400 coins. Its success is particularly impressive considering the overall low volatility in the market. This article explores the key factors behind Shiba Inu's outstanding performance, emphasizing its thriving ecosystem, robust social metrics, and bullish price action.

A Thriving Ecosystem and Social Dominance

LunarCrush's findings have reaffirmed the positive trends within the Shiba Inu community. The project showcased healthy social dominance and remained highly active over the past four weeks. Investor confidence also witnessed an upswing, evident from the steady increase in Shiba Inu's weighted sentiment. Such high-ranking and network performance directly reflect the strength of its native token.

Bullish Price Action and Market Presence

While other top cryptocurrencies experienced sideways movement, Shiba Inu's price action exhibited a bullish bias over the last four weeks. It even managed to surpass a previous resistance level despite encountering resistance six weeks ago. The token's relative strength remained intact, with the Relative Strength Index (RSI) bouncing back from the 50% level. However, at the time of writing, the Money Flow Index (MFI) has indicated some outflows, likely due to profit-taking as it approached short-term resistance.

Resilience During Market Challenges

Shiba Inu demonstrated remarkable resilience during a period of overall slowdown in the crypto market. Notably, it rallied despite a significant drop in the number of active addresses. However, within the last 24 hours, daily active addresses surged following a four-week low, suggesting increased sell pressure after a recent resistance retest.

Supply Distribution and Market Dynamics

An interesting observation can be made from Shiba Inu's supply distribution. Demand surged over the last four weeks, with top address categories (whales) increasing their SHIB holdings. Nonetheless, the pace of accumulation slowed down in the past two days, indicating a potential shift in market dynamics.

In Summary

Shiba Inu's outstanding performance and favorable ranking on LunarCrush underscore its robust activity and community engagement. Despite challenges in the crypto market, SHIB's bullish trend and healthy metrics showcase its resilience and potential for future growth. As it continues to weather the storm, Shiba Inu's ecosystem and social dominance position it as an intriguing contender in the world of cryptocurrencies, leaving investors and enthusiasts alike optimistic about its prospects ahead. #SHIBAINU #SHIBARIUM #SHIBA $SHIB

Shiba Inu enthusiasts eagerly await the upcoming launch of Shibarium, designed for the Shiba Inu ecosystem. Shibarium is a Layer 2 solution expected to significantly reduce gas fees on the Shiba Inu network. This development has attracted the attention of investors who have shown interest in SHIB in recent weeks, ahead of the Shibarium launch. #SHIBA #SHIBAINU #SHIBARIUM

Price Increase and Expectations:

SHIB's price has been steadily rising and was trading as high as $0.0000085 according to TradingView. Experts predict that following the launch of Shibarium, the price could reach $0.0000100 or higher.

The launch of Shibarium is scheduled for August 2023, but an exact date has not yet been announced. Developers assure that they continue to stay in line with their timelines.

Key Benefits Associated with Shibarium:

Reduced gas fees: Shibarium will significantly reduce gas fees on the Shiba Inu network by implementing a Proof-of-Stake consensus mechanism instead of Ethereum's current Proof-of-Work mechanism.

Increased scalability: Compared to Ethereum, Shibarium will have the capacity to process more transactions per second. This development will greatly enhance scalability and overall efficiency for the Shiba Inu network.

Improved user experience: With reduced gas fees and increased scalability offered by Shibarium, users will find it more practical and cost-effective to interact with the Shiba Inu ecosystem. The expected launch of Shibarium will undoubtedly be a significant catalyst within the Shiba Inu community.

Accelerating Growth and Development in the Ecosystem:

The release of Shibarium represents a major development for the Shiba Inu ecosystem. By making the network more scalable, efficient, and user-friendly, it can increase token adoption and drive up the price of SHIB. However, it is important to be aware of the risks associated with this project. $SHIB

Despite having a good track record, there is always a possibility of project delays or cancellations. Additionally, there is a risk of not meeting expectations or being vulnerable to hacking attacks. If a hack occurs, it could negatively impact the reputation of the Shiba Inu ecosystem and cause a decrease in the price of SHIB.

Previous year's meme coins become this year's serious coins! I love #crypto and big things are happening for #SHIB and #SHIBARIUM

#SHIBAINU #SHIBARMY

Shib is making waves, all these use cases build up sooner or later someone big is gonna take notice!

#SHIB #SHIBARIUM #SHIBARMY