The Shiba Inu (SHIB) community is excited about the recent updates and statements from SHIB’s popular marketing director, Lucie. Her short yet impactful tweet has captured the attention of the SHIB community as the Shibarium network continues to break new milestones, adding to SHIB’s momentum. So, what’s the latest in the SHIB ecosystem?
A message of encouragement to the SHIB community
Lucie recently shared an inspiring message with the Shiba Inu community, consisting of just four words. While the tweet did not directly reference the Shibarium update or any specific project, it conveyed a positive outlook for the future of the ecosystem, encouraging the SHIB community to be patient and keep the faith that the best is yet to come. This message may be a reference to Lucie’s previous statement, posted last Friday, in which she emphasized that the SHIB ecosystem is still in its early stages of development.
In recent updates, Lucie pointed out Shibarium’s achievements over the past week, highlighting the network’s significant increase in daily transactions, which increased from 127,588 to 4.77 million within a few days. Since its launch in August, Shibarium has seen over 435,711,744 transactions, signaling a period of positive growth for the SHIB ecosystem.
The number of accounts on Shibarium is increasing
Shibarium also saw an increase in the number of accounts, increasing by about 34% from 127,588 on October 21 to 171,199 on October 25. Lucie noted that the Shibarium team and the broader SHIB ecosystem are working tirelessly to drive this progress. She expressed, “Everyone, from the Shibarium projects to the Core Team and Shibaswap, is working hard!” Additionally, the SHIB burn, which aims to reduce the token supply to drive value growth, has gained momentum, with Shibburn reporting a 114% increase in the SHIB burn rate in just one day.
This increase in burns was achieved through six transactions, which wiped out 9,071,593 SHIB meme coins. Of these, three significant transactions destroyed 4,527,734, 3,577,935, and 1,918,753 SHIB, transferring millions of SHIB to unspendable blockchain addresses. These burns, which were seen as a positive development by the SHIB community, were intended to create a scarcer supply and support the price move.
Market Impact and Price Action of SHIB
On Friday, the price of Shiba Inu faced a sudden drop of 7.15%, falling to $0.00001656, creating a noticeable red candle on the hourly chart and dragging SHIB down by 3.56%. However, after this drop, SHIB recovered by 2.2%, bringing the current price to $0.00001691. This recovery brought new optimism to SHIB investors.
