Latest and important news for Shiba Inu (SHIB), the decentralized crypto created in August 2020 by an anonymous person or group known as “Ryoshi.” Let’s look at them together.
Shiba Inu: huge amounts of tokens moved to crypto exchanges
From the latest news, it is revealed that 182 billion SHIB (Shiba Inu) tokens were moved today to the Crypto.com and Gemini exchanges respectively, possibly with the intent to sell them. However, the last time something like this happened, that is, the movement of large amounts of SHIB tokens, its price dropped by 7%.
In any case, 182 billion SHIB corresponds to about $2.3 million. Shiba Inu capitalizes nearly $7 billion in total, but with daily trading volumes of just over $200 million.
Therefore, a sudden $2 million sale, for example, could drive the price down. Price that in the last 24 hours has gained 1.3%, although it appears to be down 7% during the last week.
Nonetheless, SHIB’s price remains 5.7% higher than it was a month ago, and 55.7% higher than it was at the beginning of the year. Hence, as of today, with this data in hand, it is difficult to determine whether a decline is actually possible.
The way to trigger it, though, could be precisely the sale of the 182 billion SHIB mentioned earlier.
Anyhow, according to Glassnode‘s data, addresses holding SHIB have grown in number virtually unabated, recently breaking another all-time high, even as prices move mostly sideways.
Crypto focus on Shiba Inu addresses
As anticipated, Glassnode data show that the number of SHIB addresses is now just above the 3,145,000 mark. The on-chain data also show that unique addresses, in other words addresses with non-zero balances and not part of a cluster controlled by a single entity, are also steadily increasing and are now above 1.3 million at the time of writing.
The strength of the Shiba Inu chain comes as the project prepares to launch Shibarium, which aims to help Shiba Inu scale, similar to Polygon (MATIC) on Ethereum.
Indeed, the pseudonymous Shytoshi Kusama, lead developer and front man for the Shiba Inu community, recently announced the launch of a new portal dedicated to promoting the adoption of Shibarium.
Kusama says “Join Shibarium,” designed to be a hub for developers, content creators, entrepreneurs and job seekers who wish to contribute to the Shiba Inu ecosystem.
The hope is that the new site will make it easier for anyone looking to build on Shibarium to collaborate. Kasuma stated on the matter:
“Ideally, this hiring system will allow us to find the best projects and link them together with others who can help or assist. It will allow us to meet with the military and stay organized in the process. It will allow us to increase Shibarium’s reach with professional companies and it will allow us to reset our relationships with companies we have connected to in the past. Finally, it will help us find the right validators.”
Currently, Shiba Inu is trading at $0.00001284, up 3.4% in the last day.
The Shibarium portal: latest updates
Shiba Inu has launched the portal for its long-awaited Shibarium solution. The team is encouraging developers and other interested parties to get in touch.
Shiba Inu is making progress as it plans to expand its ecosystem. The team published a blog post on 26 February detailing the hiring process for its Layer-2 Shibarium solution.
It also launched the Shibarium portal, allowing interested parties to become validators and collaborate in various ways. Specifically, as anticipated, the portal serves as a hub where developers, companies, creators, and others can contribute to Shiba Inu in various ways.
Lead developer Shytoshi Kusama advised interested parties to fill out the recruitment form file, which is not mandatory, as it would help build on the ecosystem.
With the launch of the portal, the Shiba Inu team is expected to grow its ecosystem and encourage development. The next step outlined is to release documentation, update the wiki and release the beta version as soon as possible.
The Layer-2 solution is a sign of Shiba Inu’s growing ambitions in the market. Having started a memecoin project, he has since greatly expanded his plans and is trying to offer more utility to his community and the market.
Thus, the SHIB burn rate is increasing and the BONE token is also increasing in price. Indeed, as Shiba Inu announces the next steps for its ecosystem, the Shiba token has passed substantial burn rates.
In the last 24 hours alone, it has undergone a burn rate increase of more than 2,400%. While the price of SHIB jumped just over 2% to $0.00001272.
Meanwhile, the price of the BONE token, which is also associated with the project, spiked sharply by 4%, although it has since declined. BONE will be the gas fee token for Shibarium. The token has risen about 40% in the past 30 days.
