ReportWire

Tag: Shiba Inu

  • Massive 76 Billion Shiba Inu (SHIB) Burned in 2023: Details

    Massive 76 Billion Shiba Inu (SHIB) Burned in 2023: Details

    [ad_1]

    TL;DR

    • Shiba Inu Token Burns in 2023: Shiba Inu burned over 76 billion tokens in 2023, a decrease from the previous year, with December seeing the highest burn rate.
    • Shibarium’s Development: Shiba Inu’s Shibarium, a layer-2 blockchain solution, has shown significant progress, recording a high number of transactions and blocks.
    • Shiba Inu’s Recent Price Trends: The asset’s value has shown an uptrend, with a significant increase in the past month.

    Shiba Inu’s Burn Rate Last Year

    The popular memecoin project – Shiba Inu – witnessed over 76 billion tokens burned throughout 2023 (equaling more than $820,000 at current prices), representing an 8.33% decrease compared to 2022. The record month was December, when approximately 35 billion assets were destroyed.

    Despite sounding quite substantial, the figure represents a tiny chunk of Shiba Inu’s tremendous circulating supply of nearly 590 trillion. The mechanism aims to reduce that supply, making SHIB more scarce and potentially valuable in time.

    The asset’s price has been on an uptrend lately, spiking by 5% in the past 24 hours and around 30% on a monthly basis (per CoinGecko’s data).

    Shiba Inu Price
    Shiba Inu Price, Source: CoinGecko

    Shibarium is Also Worth Observing

    Many experts have claimed that the advancement of Shiba Inu’s layer-2 blockchain solution – Shibarium – could also play a role in the price appreciation of SHIB. 

    The network, which officially went live in the summer of 2023, has blasted through multiple milestones lately, with total transactions surpassing 200 million around Christmas. Currently, that figure stands at almost 250 million, whereas total blocks are just shy of 2.5 million.

    Shibarium aims to enhance the efficiency and scalability of the base layer by handling transactions off the main blockchain. Thus, users can enjoy reduced transaction fees and faster processing times. Those curious to dive deeper and learn more about Shibarium could take a look at our dedicated video below:

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Dimitar Dzhondzhorov

    Source link

  • Shiba Inu Burn Rate Spikes Over 2,700% Despite Market Slowdown

    Shiba Inu Burn Rate Spikes Over 2,700% Despite Market Slowdown

    [ad_1]

    Shiba Inu’s price action has been on a consolidation activity since the beginning of the week. However, the Shiba Inu community has ramped up SHIB burn activities in the past 24 hours, pushing the burn rate up by more than 2,700%. What this means is that SHIB holders have been sending large amounts of the meme coin to unrecoverable wallets, reducing the total supply amidst efforts to push the price up. 

    Shiba Inu Burn Rate Skyrockets In 24 Hours Amid SHIB Decline

    SHIB tokens are normally burned sporadically, and any investor can burn tokens by sending them to any of the three SHIB burn addresses. Members of the Shiba Inu team have increased sensitization efforts in recent months to increase the burn rate of community members. 

    According to information obtained from the official SHIB burn tracker, Shibbburn, the Shiba Inu burn wallets have witnessed an influx of burn transactions in the past day. These burns came in from four major transactions, with the highest being 13,140,241 SHIB tokens burned in one go from address “0xa034”. As a result, the SHIB burn rate spiked by a whopping 2,752% with more than 14.8 million SHIB incinerated in total. This is in stark contrast with the previous day’s figures which came out at around 2.5 million SHIB tokens sent to the burn addresses.

    The Shiba Inu team has been particularly active with SHIB burns, burning a total of 33.8 billion tokens in four transactions this month. In all these, the SHIB community has removed 410.69 trillion tokens from the initial SHIB token supply. At the time of writing, Shiba Inu’s circulating supply stands at 581 million tokens.

    SHIB market cap currently at $6.146 billion. Chart: TradingView.com

    SHIB Trades In Tight Range

    SHIB, on the other hand, has been trading inside a narrow price range for approximately a week now, with the upper resistance of $0.000011 and the support of $0.00001067 serving as the two main points of contention. There has been a relative lack of reaction to token burns this week, as the cryptocurrency is currently trading at $0.00001054, which is a decrease of 1.5% over the past seven days. According to data from IntoTheBlock, 37.26% of addresses are in profit at the current price, compared to 42% profitability last week.

    A larger 30-day timeframe shows SHIB has mostly reacted positively to the team’s large token burns. The second burn of 8.6 billion SHIB saw the crypto go on a strong spike lasting a few days which pushed its price to $0.00001165 on December 17. Despite the recent correction this week, the token is still holding on to 28.53% of its monthly gain. 

    Featured image from Freepik

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    [ad_2]

    Scott Matherson

    Source link

  • Shibarium's Activity Surge: Wallet Growth And Elevated SHIB Burn Rate – Bullish Signal For Shiba Inu?

    Shibarium's Activity Surge: Wallet Growth And Elevated SHIB Burn Rate – Bullish Signal For Shiba Inu?

    [ad_1]

    Shibarium, the Layer-2 blockchain linked to the widely recognized meme coin Shiba Inu, is making notable strides. Recent data indicates a significant uptick in user engagement, marked by a substantial increase in both transactions and wallet growth.

    The Shibariumscan explorer reveals that daily transaction volume on Shibarium has reached roughly 7.84 million, reflecting a steady climb since the beginning of the month.

    Total number of transactions on Shibarium Blockchain. | Source: Shibariumscan

    This uptrend in activity has propelled the total transactions on the platform to 212 million, accompanied by the connection of over 1.3 million Shibarium wallets, signifying a growing network of users.

    Shibarium’s Dynamic December: Wallet Growth Meets Fluctuating User Activity

    Despite the notable growth in wallets, there has been a contrasting trend in active user numbers. While the account numbers have swelled in December, active user engagement experienced a downturn during the same period.

    However, a slight rebound in active users was observed on December 27, hinting at a potential revival in participation. Particularly, Shibarium’s active users surged from a low of 1,878 as of December 23 to an high of 2,802 on the 27th.

    This pattern of fluctuating user activity, juxtaposed with the consistent increase in wallet numbers, paints a complex picture of Shibarium’s current ecosystem dynamics.

    Alongside Shibarium’s transactional growth, the Shiba Inu community has intensified its efforts in token incineration, aiming to reduce the circulating supply of SHIB tokens and potentially boost their value.

    The burn tracker Shibburn reports a 17.59% increase in the daily burn rate, with 13.7 million SHIB tokens recently burned. So far, December has witnessed the burning of roughly 24 billion Shiba Inu tokens, underscoring the community’s commitment to reducing SHIB’s supply.

    Shiba Inu Burn Rate Surges Over The Past Day
    Shiba Inu Burn Rate Surges Over The Past Day. | Source: Shibburn

    This consistent burning strategy is central to the community’s long-term goal of fostering token value growth through supply reduction.

    Shiba Inu Market Resilience Amid Security Warnings

    Meanwhile, Shiba Inu has thrived to continue its month-long bullishness. Despite a 1% decline in the past week, the asset currently shows an upward trajectory increasing by 0.8% in the past 24 hours, with a market price of $0.00001047, at the time of writing.

    Shiba Inu (SHIB) price chart on TradingView
    Shiba Inu (SHIB) price is moving sideways on the 4-hour chart. Source: SHIB/USDT on TradingView.com

    In the midst of these developments, the ShibArmy Scam Alerts account on X has raised concerns about the prevalent issue of security in the crypto domain, particularly focusing on Shibarium. The account underscores the risks posed by fraudulent projects that exploit inexperienced investors through deceptive advertising.

    Emphasizing the importance of being well-informed, the ShibArmy Scam Alerts advises thorough research, including scrutinizing white papers, understanding the fundamentals of the asset, and verifying the authenticity of the development team.

    The account also suggests examining media coverage and ensuring active, genuine community engagement on platforms like Discord and Telegram. This comprehensive approach to due diligence is crucial for navigating the crypto space safely and avoiding falling prey to sophisticated scams.

    Featured image from Unspash, Chart from Tradingview

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    [ad_2]

    Samuel Edyme

    Source link

  • Shiba Inu Just Spiked 12% Overnight – What Sparked The Rally?

    Shiba Inu Just Spiked 12% Overnight – What Sparked The Rally?

    [ad_1]

    People who are interested in investing in cryptocurrencies are shifting their attention to possible chances in the market as the holiday season draws near. As a noteworthy option for seasonal gains, Shiba Inu (SHIB) has a distinctive combination of appeal, volatility, and prospective returns.

    Lead developer of Shiba Inu, Shytoshi Kusama, recently provided insight into the meme coin’s endeavors as it progresses in the cryptocurrency space.

    Kusama Unveils Shiba Inu Community’s Ingenuity

    Kusama, a well-known figure in the cryptocurrency sector, provided some new perspective into the remarkable efforts made by the Shiba Inu community to improve the token’s complex economics through an engaging series of social media posts.

    The thriving and dynamic community that supports SHIB has shown an unwavering dedication to increasing the Shiba Inu token’s overall value and utility.

    Through his posts, Kusama revealed a patchwork of projects that aim to strengthen the Shiba Inu ecosystem, from creative staking techniques to decentralized apps (DApps).

    The focus on community involvement in tokenomics development demonstrated a shared goal of establishing Shiba Inu as a strong and long-term digital asset.

    SHIB triggered a 12.5% increase in the last 24 hours. Source: Coingecko

    At the time of writing, SHIB was trading at $0.000010, making a surprise increase of 13% in the last 24 hours, and sustaining a 9% gain in the last seven days, data from Coingecko shows.

    The announcement by the Shiba Inu (SHIB) community to burn billions of tokens in the near future clearly had a good effect on the meme coin’s price today. Kusama’s emphasis on this action marks a substantial transition for SHIB from its meme-centric beginnings to a global standard in the cryptocurrency and blockchain space.

    Shiba Inu currently trading at $0.0000108005 territory. Chart: TradingView.com

    Interest in SHIB is growing because of the upcoming token burn, which could enhance the community’s dedication to guiding SHIB’s development and raise its perceived value.

    The administrator of the Shiba Inu Discord channel, who goes by the handle DaVinci, took to Telegram’s “Shibarium Tech” channel to make a significant statement to the Shiba Inu community.

    He gave the SHIB army’s expectation that the 25 billion SHIB on Shibarium would burn earlier this week some context.

    SHIB circulating supply in green. Source: Shibburn

    He said that SHIB burns might occur at any time and that the SHIB crew is hard at work planning them. As “everything has to happen in the correct way,” he advised the people to “take it easy.”

    SHIB Burns Surge

    Three unique addresses are used to compute burns: tokens transferred to the Genesis address, which lowers the supply, and two dead wallets with no accessible keys.

    The SHIB burn rate has increased significantly by 10.07% in the last 24 hours, destroying 1.18 million coins, as of this writing.

    Source: Shibburn

    The SHIB developers moved an incredible 8 billion SHIB to a dead-end blockchain address earlier this month. Regarding the current SHIB burning, only 1,184,166 SHIB were destroyed in the last day.

    Meanwhile, SHIB has taken the top spot on the list of meme coins with the highest level of social activity, according to recent research from Crypto Dep.

    The information, which comes from the reliable social intelligence site Lunar Crush, highlights how dominant Shiba Inu is in comparison to other well-known meme-based cryptocurrencies like DOGE, FLOKI, and PEPE.

    Featured image form Shutterstock

    Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

    [ad_2]

    Christian Encila

    Source link

  • December Bull Run for Shib Inu (SHIB)? Team Teases Major Announcement

    December Bull Run for Shib Inu (SHIB)? Team Teases Major Announcement

    [ad_1]

    TL;DR

    • Major Announcement Teased: Shytoshi Kusama, the anonymous lead developer of Shiba Inu (SHIB), hinted at a significant announcement and a year-end surprise for the SHIB community, suggesting it will be a pioneering development in Web3.
    • Shibarium’s Impact on Shiba Inu: The focus on Shiba Inu in 2023 has been more on its layer-2 blockchain solution, Shibarium, than its price. Launched in August, Shibarium aims to position SHIB as a leader in its niche by enhancing speed and reducing transaction costs.
    • Shibarium’s Achievements: Shibarium has achieved notable milestones, including surpassing 2 million total blocks and over 100 million transactions, demonstrating its growing influence and potential in the cryptocurrency space.

    Shiba Inu to ‘Break the Internet?’

    The popular memecoin – Shiba Inu (SHIB) – might be on the verge of making a great splash in the entire cryptocurrency space. At least, that is what Shytoshi Kusama – the anonymous lead developer behind the project – announced recently.

    LUCIE – Shibarium’s Marketing Strategist – shared the statement where Kusama assures there will be a “very big announcement” and a year-ending surprise for the XRP army next week.

    “It will be a world’s first proving once again that SHIB is leading innovation in the Web3,” the disclosure reads.

    LUCIE doubled down on the expectations of breaking news, claiming it could “break the Internet.”

    Shiba Inu’s Progress in 2023

    Speaking of a possible additional advancement of the memecoin it is worth mentioning its developments since the beginning of the ongoing year.

    SHIB’s price has soared by over 20% since January 1, but it is not its valuation that made the headlines. Most of the news surrounding the memecoin were related to the layer-2 blockchain solution – Shibarium – which officially saw the light of day in August.

    The network, which aims to elevate Shiba Inu as a leader among its rivals by improving speed and lowering transaction fees, has blasted through numerous milestones lately.

    Most recently, total blocks on the feature surpassed 2 million, whereas the number of total transactions exceeded the 100 million mark. Those curious to learn more about Shibarium could do so by watching our dedicated video below:

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Dimitar Dzhondzhorov

    Source link

  • Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?

    Shiba Inu Vs LUNC Burn: Which One Has Had A Better Impact?

    [ad_1]

    Both the Shiba Inu and the LUNC tokens have seen their growth hindered by the fact that their circulating supply is incredibly large. As a way to curb this, both communities have come up with a burn initiative to reduce the supply of the tokens as much as possible. So far, there have been significant amounts of tokens sent to burn addresses by members of the community. But which community’s effort has had the best impact on the token price?

    LUNC Community Hits 85 Billion Mark

    The LUNC community burn has gained a lot of traction since it began around a year ago. Every week, millions of tokens are being taken out of circulation in an effort to reduce its over 5.8 trillion supply. This has resulted in tens of billions of tokens being burned so far.

    According to the LUNC Metrics website, the community has been able to hit the 85 billion tokens burned milestone. This was hit after over 1.7 billion tokens were burned by the community in a single-week timeframe, bringing the total all-time token burned to approximately 85 billion.

    On the back of this milestone, the prices of LUNC and USTC have begun to rally once more, suggesting a correlation between the burn and the price performance. Not only the Terra Classic ecosystem tokens are rallying but also the rebranded LUNA token has been on the rise.

    The LUNC burn initiative has seen a lot of support from the Binance exchange which continues to burn fees generated from the altcoin’s trading activity. Burning has also extended to the USTC token which sees thousands of coins burned daily.

    SHIB bulls show strength | Source: SHIBUSD on Tradingview.com

    Shiba Inu Burn Sees 2875% Explosion

    Compared to the LUNC burn, the Shiba Inu community burn has had more impact on the price. Unlike LUNC, around 45% of the total token supply has been burned. Most of this can be attributed to Ethereum founder Vitalik Buterin who received half of the SHIB token supply in 2021. Buterin eventually burned the majority of the tokens after donating some of it to a COVID relief fund.

    The community has, however, not relented in its efforts to reduce the supply. Last week, the burn rate saw one of the most significant spikes after rising over 7.6 million percent in a 24-hour period. This increased burn momentum has continued into the new week with Sunday’s figures coming in over 152 million tokens burned.

    This 152 million figure saw the SHIB burn rate rise another 2875%, data from Shibburn shows, starting the week off on a high note. The majority of the burned tokens came from a single wallet which incinerated 107.6 million tokens in a single transaction.

    However, unlike LUNC, the spike in the SHIB burn rate hasn’t seemed to have affected the price much with the token trading at near breakeven for the same time period.

    Featured image from Analytics Insight, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Team Unveils Enhanced SHIB And BONE Burns, What This Means

    Shiba Inu Team Unveils Enhanced SHIB And BONE Burns, What This Means

    [ad_1]

    Shibarium’s burning mechanism has been in the limelight of late, especially with the recent record of over 8 billion Shiba Inu tokens burnt in a single day. This burning mechanism seems to have undergone an update, which could further enhance its performance. 

    Shibarium Undergoes Swift Hard Fork

    A screenshot containing a discord message from DaVinci (a member of the Shiba Inu development team) surfaced online recently. In the message, DaVinci mentioned that Shibarium would undergo a hard fork at Block 1962000. That suggests that the upgrade already took place as there are already over 2 million blocks on the layer-2 network at the time of writing.

    Meanwhile, the main purpose of this hard fork is to enhance the network’s burning mechanism. This will enable support for multiple burn tokens, with BONE and SHIB (the governance tokens of Shibarium) being the main focus. DaVinci also mentioned to node providers that a Genesis update would be required since it was a hard fork. 

    Further Clarification On What The Hard Fork Entails For Shiba Inu

    Shibarium had earlier provided clarification of what this new era of the network entails. A blog post published on the Shibarium site mentioned that Shibarium’s burning mechanism will initially be manually managed as part of this upgrade. This is to ensure alignment with the network’s health and sustainability. In this phase, the burn process will be managed by the official deployer.

    Once that is done, Shibarium will apparently transition to an automated system starting in January. As part of this transition, Shibarium is expected to witness further upgrades in a bid to “enhance efficiency and reliability.” According to the network, the automated burn process “will operate based on predefined rules,” although it didn’t provide further details on this. 

    Node provider NOWNodes noted in a blog post that this upgrade will also facilitate mass adoption for Shibarium. That could explain why there is a need to enhance the burning mechanism as part of the upgrade. Considering that there is a correlation between the transaction volume and token burns, Shibarium needs to be well prepared to handle the number of tokens that need to be burnt following a potential increase in transaction count. 

    The layer-2 network is currently flying high as the total transaction count on it continues to skyrocket. According to data from the Shibarium Explorer, the total transactions on the network stand at over 58 million at the time of writing. Shibarium has surpassed the milestones of 5 million, 10 million, 20 million, and 35 million mark in just about a week. 

    Shiba Inu price chart from Tradingview.com

    SHIB price reclaims $0.00001 | Source: SHIBUSD on Tradingview.com

    Featured image from Crypto News, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?

    Shiba Inu Burn Rate Rises Rapidly In One Week, What’s Been Driving It?

    [ad_1]

    The rise in the Shiba Inu burn rate has no doubt been one of the most notable developments in the community. At the start of the week, the burn rate rose over 7,000,000% after more than 8 billion tokens were burned in a 24-hour period. This trend has not slowed down either given that the burn figures have continued to rise daily.

    Shiba Inu Burn Surge Continues

    Earlier in the week when the Shiba Inu burn saw one of its highest daily spikes, the total number of tokens burned had come out to just over 8 billion. At the time, this was a significant figure given that the burn rate had been slowing down over the last year. However, there has been a steady rise in the number of SHIB tokens that are being burned lately, which raises the question of what is driving the burn.

    After a dip in the burn rate following the 8 billion daily burn, the community is back at it again and their zeal has been rewarded once more. On Thursday, the burn tracker Shibburn reported that the 24-hour figure had crossed 10 million once again. This shows a steady recovery from Wednesday’s figures which had tanked significantly.

    Source: Shibburn

    As Shibburn data shows, the 10.34 million SHIB that were burned in the last 24 hours amounts to an 803.4% increase in the burn rate compared to the previous day. The majority of the burns have, however, come from a single wallet address. The address sent a little over 10.2 million SHIB to the burn address.

    This recent spike in the BURN rate has also added to the total amount burned on a weekly basis. The figure comes out to 8.497 billion, which is a 1,969.72% increase from the previous week’s figures.

    Shiba Inu price chart from Tradingview.com

    SHIB bulls struggle to maintain control | Source: SHIBUSD on Tradingview.com

    What Is Driving The SHIB Burn?

    The most significant burn for the week was the 8.2 billion burn, most of which came from a single address. This address was the ShibaSwap deployer wallet, which meant that the SHIB team was the one burning the tokens.

    The spike in the burn rate coincides with the increased usage of the Shiba Inu layer 2 blockchain Shibarium, which marked multiple milestones this week. As the usage has risen and more fees were collected on the network, the amount of SHIB to be burned rose drastically.

    Daily transactions on Shibarium have consistently come out above 7 million this week, bringing the total transactions on the network above 51 million. If this continues, then the burn rate could continue to rise as more usage of the L2 means more fees being burned.

    [ad_2]

    Best Owie

    Source link

  • Shiba Inu soars 21% in a week, becomes 18th largest cryptocurrency by market cap

    Shiba Inu soars 21% in a week, becomes 18th largest cryptocurrency by market cap

    [ad_1]

    Shiba Inu (SHIB), the second largest memecoin, is now the 18th largest cryptocurrency based on market cap, climbing ahead of Litecoin and Dai with its massive 21% growth since last week. 

    SHIB’s market cap currently sits at over $5.88 billion, with a $50 million lead over its nearest competitors in the market. The memecoin’s trading volume has also soared in the latest bull run, with a 132% increase in the past 24 hours. On Binance alone, the SHIB and USDT pair recorded a 26% increase in trading volume since yesterday. 

    Source: CoinMarketCap

    The token’s significant growth is heavily driven by its recent burn rate. Yesterday, around 8.2 trillion SHIB tokens were burned in a single transaction. However, Shiba Inu is not the only memecoin enjoying a significant rally. PepeCoin is up by 45% weekly, recording the sixth-highest weekly gain in the entire market. 

    Leading memecoin DOGE also recorded a 25% weekly growth, reaching almost the same price as last year on its anniversary. 


    Follow Us on Google News

    [ad_2]

    Mohammad Shahidullah

    Source link

  • Watch Out: Shiba Inu (SHIB) Community Warned About This Dangerous Scam

    Watch Out: Shiba Inu (SHIB) Community Warned About This Dangerous Scam

    [ad_1]

    TL;DR

    • Shiba Inu Scam Warning: Shibarmy Scam Alerts warns of fraudulent sites and NFT airdrops targeting SHIB investors, advising careful verification of URLs.
    • Telegram Scam Alert: The team previously alerted about scammers on Telegram posing as legitimate contacts to deceive users in the Shiba Ecosystem & Shibarium Tech group.
    • Safety Advice: Users are urged to verify identities and check official links to prevent falling victim to cryptocurrency fraud.

    SHIB Army Should Beware

    The cryptocurrency industry is an attractive sector for numerous investors and offers the chance to make substantial profits in a short period of time. However, the space is also full of fraudsters who target market participants aiming to swindle their holdings.

    The X (Twitter) account focused on treats surrounding Shiba Inu and its native token SHIB – Shibarmy Scam Alerts – warned that there are a lot of fake sites and NFT airdrops that request people to connect their wallets and supposedly redeem money. 

    The team alerted that this was a scam, advising individuals to check the URLs and not conduct such operations without proper due diligence. 

    “If you are ever in doubt, please check with us before you do anything. Stay safe, Shibarmy, and keep your eyes open,” it concluded.

    Shiba Inu’s Previous Warning

    The team recently issued another alert to the community, claiming people should be utterly cautious when using Telegram since potential scammers are looking for an opportunity to attack.

    “It has come to our attention that there are scammers operating on Telegram DMs, targeting unsuspecting users Shiba Ecosystem & Shibarium Tech group. These scammers may pose as legitimate individuals or organizations, attempting to deceive you into sharing personal information, financial details, or even sending them money,” it said.

    Shibarmy Scam Alerts urged people to verify the identity and confirm the authenticity of the mysterious individuals they are communicating with. Checking official website links for verification could also prevent one from being involved in a cryptocurrency fraud. 

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Dimitar Dzhondzhorov

    Source link

  • Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

    Shiba Inu Community Project Calls Out Founders For Refusing To Burn 103 Trillion SHIB

    [ad_1]

    Shiba Inu (SHIB) burn tracker, Shibburn, has called out the creator of the meme coin, who goes by the pseudonym “Ryoshi”. The community project seemed to suggest that Ryoshi wasn’t acting in the best interest of the SHIB ecosystem.  

    How “Ryoshi” Has Hampered SHIB’s Burn Rate

    In a series of posts on their X (formerly Twitter) platform, Shibburn alleged that the founders of the token haven’t always been honest in their dealings. Specifically, the platform suggested that the founders have forestalled the token’s burn rate by refusing to burn over 103 trillion SHIB. This particular allegation stemmed from their statement about Ryoshi’s SHIB holdings.

    Shibburn mentioned that Ryoshi lied about how much SHIB they held. They stated how the SHIB founder had, in their own words, claimed to hold “0 SHIB” as doing otherwise could bring about a conflict of interest. Meanwhile, that turned out to be a lie, as Ryoshi apparently holds over $1 billion worth of SHIB.

    The founders have apparently gone to great lengths to hide their holdings as they keep moving them across separate wallets. In doing so, Shibburn believes that they have impeded the ecosystem’s growth as some of these tokens are meant to be burnt. Shibburn went as far as alleging that Ryoshi didn’t care about SHIB’s development and was only out for themselves.

    Shiba Inu Founders Only Out To Enrich Themselves 

    As part of the shocking revelations, Shibburn mentioned that Ryoshi may not be who many think of them as. Instead, they are said to be a “group of greedy investors” who are just looking to profit off the community. To achieve this, SHIB is said to be their “golden goose,” which they use as a means to enrich themselves. 

    Besides Ryoshi, SHIB’s lead developer, Shytoshi Kusama, was also caught up in the mix. Shibburn accused the developer of not being a “real dev” and suggested that Shytoshi was also out to make profits off the community. One instance that they alluded to was how the developers allegedly rewarded themselves with a “large amount of $BONE” when ShibaSwap was created.

    Shibburn hinted that was the reason why BONE was made a gas token for Shibarium, possibly in a bid to increase the token’s utility and make it more valuable. Shytoshi has yet to respond to these allegations neither has anything been posted on the official announcements blog, where the developers are known to give regular updates.

    Shiba Inu also seems unfazed by these allegations. At the time of writing, the meme coin is trading at around $0.000008189, up in the last 24 hours, according to data from CoinMarketCap. 

    SHIB price stalls as bulls vie for control | Source: SHIBUSD on Tradingview.com

    Featured image from Coins.ph, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu (SHIB) Major Announcement: Manny Pacquiao Collab

    Shiba Inu (SHIB) Major Announcement: Manny Pacquiao Collab

    [ad_1]

    TL;DR

    • Shiba Inu and Manny Pacquiao Partnership: Shiba Inu announced a collaboration with boxing legend Manny Pacquiao, coinciding with the release of The Shib Magazine’s second edition and a 3,000 NFT giveaway.
    • Pacquiao’s Boxing Achievements: Manny Pacquiao is celebrated for winning 62 of 72 professional matches and being the first boxer to win lineal championships in five weight divisions, with titles in four decades.
    • SHIB’s Recent Market Performance: SHIB has seen a 20% increase in the past month, possibly attributed to the development of Shibarium and a successful token burning initiative, reaching significant network milestones.

    Shiba Inu Collaborates With a Renowned Boxing Champion

    The team behind the popular memecoin – Shiba Inu – recently announced the upcoming release of the second edition of The Shib Magazine. In addition, they said the move comes with a distribution of 3,000 non-fungible tokens (NFTs) to lucky winners and a partnership with a well-known athlete.

    The community wondered who this mysterious person might be, with the most popular suggestions pointing to some boxing legends. The rumors were this time true since Shiba Inu’s partner turned out to be the former professional boxer – Manny Pacquiao. The Filipino fighter disclosed the deal on X (Twitter) through the Manny Pacquiao Foundation page. 

    “Thank you, SHIB community, for supporting the Manny Pacquiao Foundation. We are excited about this partnership. God bless,” he said.

    Pacquiao is among the icons of boxing, having won 62 out of his 72 professional matches. He is the first boxer in history to win the lineal championship in five different weight divisions. He also holds the record of being the only boxer to hold world titles in four different decades: in the 1990s, 2000s, 2010s, and 2020s.

    SHIB’s Recent Uptrend

    Despite flashing red today (November 15), Shiba Inu’s (SHIB) price has charted a 20% gain in the past 30 days. Its positive performance could be attributed to the development of Shibarium and the successful execution of the asset’s burning program.

    The former officially went live at the end of August and has blasted through several milestones since then. As CryptoPotato reported, the number of total blocks on the network surpassed 1.5 million, while total transactions are close to 4 million.

    Those curious to find out more about Shibarium’s specifics and purposes could take a look at our dedicated video below:

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    [ad_2]

    Dimitar Dzhondzhorov

    Source link

  • Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target

    Shiba Inu Price Prediction: Machine Learning Algorithm Reveals December Target

    [ad_1]

    The crypto market has experienced somewhat of a resurgence in recent times. Shiba Inu (SHIB) happens to be one of the altcoins that many seem to have their eyes on during this period. And if the prediction of this machine learning algorithm is anything to go by, it would seem that these SHIB holders are well positioned for more profitable times ahead.

    SHIB’s Projected Price By December

    According to data from the price prediction algorithm on the crypto analytics platform CoinCodex, SHIB’s price is predicted to hit $0.000009534 by December 11. Such price action will represent about a 10% increase from its current price. 

    Meanwhile, the sentiment around the token continues to be bullish, which suggests that many expect the token to rally further despite the impressive gains it has already recorded. 

    With such a bullish sentiment, CoinCodex’s prediction seems more attainable as the ecosystem could see more whales and retail investors jump in on the token. If that happens, it could further add to the buying pressure, an important metric to determine if SHIB could continue riding on this momentum to attain CoinCodex’s prediction by December.

    In line with the bullish sentiment, CoinCodex noted that 24 technical analysis indicators are signaling bullish signals, with only a mere 4 indicators signaling bearish signals. Based on its forecast, the platform predicts that now remains a good time to buy the meme coin despite the impressive gains it has already recorded. 

    Another important metric that CoinCodex highlighted was the fact Shiba Inu’s RSI value currently stands at around 63.05, indicating that the token is neither oversold nor overbought. As to the exact time to buy the token, investors might be able to take a cue from CoinCodex’s five-day prediction as the platform expects a correction to around $0.000008008. 

    The Fundamentals Are Aligning For Shiba Inu

    The Shiba Inu ecosystem has continued to record interesting developments that suggest that the fundamentals are as bullish as the charts and technical analysis. Most recently, the SHIB non-custodial wallet was launched in a bid to promote the ecosystem’s vision of a decentralized state and enhance the crypto experience of Shibizens. 

    Interestingly, the wallet is equipped with certain features that address the fears of using a non-custodial wallet. One of them happens to be a feature that allows users to recover their tokens even if they were to forget their seed phrase. The wallet also integrated Web3Auth to make the user onboarding experience effortless and straightforward.

    At the time of writing, SHIB is trading at around $0.000009465, up by over 14% in the last 24 hours, according to data from CoinMarketCap. 

    SHIB crosses $0.0000092 | Source: SHIBUSD on Tradingview.com

    Featured image from Times Tabloid, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Team Unveils ‘The SHIB’, What Is It? | Bitcoinist.com

    Shiba Inu Team Unveils ‘The SHIB’, What Is It? | Bitcoinist.com

    [ad_1]

    The Shiba Inu ecosystem continues to be a bubbling hub of activities with new projects and innovations coming out of the woodwork. The latest addition to this thriving ecosystem is “The SHIB” magazine, and many SHIB community members and crypto enthusiasts are looking forward to what this new publication brings to the ecosystem. 

    The Shiba Inu Magazine Takes Off

    The SHIB community has been brimming with excitement following the launch of ‘The SHIB,’ an exclusive magazine for the Shiba Inu ecosystem and the broader crypto community. Lucie, Shiba Inu’s market specialist made the official announcement of the release of The SHIB in an X (formerly Twitter) post on November 7.

    The publication marks a significant step forward for the Shibarium ecosystem as it serves as a gateway for crypto enthusiasts to obtain accurate and insightful information on Shiba Inu’s growth and evolution as well as the latest updates on disruptive blockchain technology and crypto industry developments. 

    The magazine will also cover a wide range of topics including Shibarium product updates and developments, community updates, trending tokens, exclusive interviews with key figures in the crypto industry, and entertainment events in the Shib ecosystem. 

    The SHIB magazine has also incorporated special features for users including a Non-fungible Token (NFT) minting feature which allows users to mint the cover of the newest edition of The SHIB magazine. Users can also collect many of these minted NFTs and trade them later.

    Additionally, the SHIB team has launched their Shib Name Service (SNS) allowing users to get their personalized SHIB names which come with a privacy feature that safeguards their online identity and allows easier access to The SHIB. 

    ‘The SHIB’ On A Rocky Start

    The highly welcomed Shiba Inu magazine, The SHIB has taken an unexpected turn as technical issues emerged following its release. 

    A Shib community member, Kaal revealed that the self-custodial authentication system integrated into The SHIB magazine was having several technical difficulties which was negatively impacting the experience of users. 

    “The newly introduced self-custodial authentication system as part of The Shib magazine is having some technical issues for some users, we are working towards fixing this as soon as possible,” Kaal stated. 

    Lucie also informed users of other technical challenges in The SHIB platform. She explained that the website’s login feature was temporarily unavailable and apologized for the delay and inconvenience caused by the issue. 

    Lucie assured SHIB community members that the technicalities were minor and promised to continually update members on the platform’s progress, adding that the Shib team was actively working towards solving the problem. 

    “We want to inform you that our log-in feature is temporarily unavailable due to a minor issue on our website. Please rest assured that we are aware of the situation and our team is actively working to resolve it,” Lucie stated.

    SHIB price holding above $0.000008 | Source: SHIBUSD on Tradingview.com

    Featured image from Watcher Guru, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Whales Bet Big As Shibarium Grows, Road To $0.1?

    Shiba Inu Whales Bet Big As Shibarium Grows, Road To $0.1?

    [ad_1]

    Shibarium has had quite the adoption and growth since its launch. The layer-2 solution has grown in various metrics over the months, demonstrating strong momentum. Shibarium is closely approaching the 4 million milestone in total transactions. At the same time, whales are increasing their activities, as large transactions spiked in the past week. 

    Shibarium Nears 4 Million Transactions

    The momentum behind Shiba Inu’s own scaling solution is growing at an incredible pace. Shibarium has taken off and become the preferred method for SHIB whales and retail investors alike to buy and sell SHIB tokens.

    According to NOWNodes, Shibarium was one of the best-performing networks this month, as the blockchain node provider reached 66 million processed requests to Shibarium. In less than three months after its launch, the network is now approaching four million total transactions and shows no signs of slowing down.

    Data from Shibariumscan puts the total transaction count at the time of writing at 3.81 million, with a total of 1.51 million blocks mined. The number of daily transactions is also at 13,700 in the past 24 hours, and the number of wallet addresses has recently surpassed 1.26 million.

    At the same time, Shiba Inu whales have upped their activity. Data from IntoTheBlock has shown the Shiba Inu ecosystem saw a 45% jump in large transaction volume, which totaled $46.12 million as October came to a close.

    SHIB market cap currently at $4.839 billion. Chart: TradingView.com

    Road To $0.1 For Shiba Inu?

    Past news around Shibarium has always positively affected the price of SHIB. Each new milestone and benchmark reached in developing Shibarium generates excitement and drives up the price of SHIB. At the time of writing, SHIB is trading at $0.000008154 and only 22.14% of holders are currently making a profit.

    A cross over the four million milestone in Shibarium could lead to another hype in the Shiba Inu ecosystem, even if only temporarily. This could propel Shiba Inu past the current resistance of $0.0000082 and towards its August high of $0.00001072.

    As more SHIB holders discover the benefits of Shibarium, like lower fees and faster transaction speeds, the rate of adoption will only accelerate. At the same time, various developments have pointed towards sustained price growth for SHIB. 

    Shytoshi Kusama, SHIB’s lead developer, recently unveiled a naming service on Shibarium to convert complex Shibarium addresses into simple human-readable names. A $0.1 price point at this moment seems very unrealistic, but updates like this indicate a starting point for sustained price growth.   

    Featured image from Pexels

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Promising Developments Point Toward Sustained Price Growth

    Shiba Inu Promising Developments Point Toward Sustained Price Growth

    [ad_1]

    The layer-2 network Shibarium continues to make great strides, as recent happenings in the ecosystem suggest. These developments have also further reignited the bullish sentiments among many in the Shiba Inu community as they predict an upward momentum in the token’s trajectory. 

    Shibarium Standing Strong

    Shibarium has continued to make great strides since relaunching after its botched launch. The network recently launched its name service, which provides an easier and more seamless way for users on the network to transact. 

    The network also seems to be generating a lot of buzz and utility as the node provider NOW Nodes recently announced that Shibarium was one of the best-performing networks in their ecosystem in recent times. 

    According to them, they have processed over 66 million requests to Shibarium since launching shared access to the Shibarium RPC full nodes in September. Meanwhile, they also highlighted plans to bring Shibarium to “big exchanges and wallets.” 

    As part of these plans, the next step includes finding liquidity providers that will help these exchanges and wallets “fully integrate Shibarium.” One such exchange could be the Australian-based GroveX, which announced that they were in the process of integrating the network into their platform. 

    Meanwhile, on-chain activity on the network continues to rise. According to data from the network explorer Shibariumscan, the network is close to hitting the four million mark in terms of transactions processed. Shibarium is also currently seeing an average of 14,000 daily transactions. 

    From all indication, there is no doubt that the network’s team are putting in “true work,” as Shiba Inu’s lead developer, Shytoshi Kusama, once pinpointed it as what was needed if the community members were going to see a significant increase in SHIB’s price. 

    Shiba Inu is currently trading at $0.00000792 territory. Chart: TradingView.com

    Atomic Wallet Reportedly Adds Support For Shibarium 

    In a post shared on her X (formerly Twitter) platform, Shiba Inu’s marketing lead, Lucie mentioned that some token holders in the Shibarium community informed her that the decentralized wallet Atomic Wallet had allegedly added Shibarium to their platform. 

    However, this move is yet to be confirmed as the decentralized wallet hasn’t released any statement about such integration neither does Shibarium seem supported on the wallet as the time of writing.

    Back in January this year, Atomic had mentioned that they were going to support Shibarium upon the layer 2 network launching, but nothing has been said to that effect since then.

    If eventually confirmed, such news will undoubtedly be bullish for the ecosystem. Such a move could see Atomic’s 5 million plus registered users get onboarded into the network and further increase the demand for the ecosystem’s utility tokens. 

    Shiba Inu is currently trading at around $0.000007893, up over 2% in the last 24 hours, according to data from CoinMarketCap. 

    Featured image from Shutterstock

    [ad_2]

    Scott Matherson

    Source link

  • XRP And Shiba Inu Rally Is Not Over According To This Indicator

    XRP And Shiba Inu Rally Is Not Over According To This Indicator

    [ad_1]

    The crypto industry saw a spectacular run in October, as a few cryptocurrencies like Bitcoin and Solana registered new yearly highs. However, the entire market seems to be taking a breather after this action-packed October that saw Bitcoin, XRP, and Shiba Inu lead impressive rallies. 

    On-chain data, particularly from the crypto analytics platform Santiment, showed October ended on a somehow bearish note. But history from this particular metric suggests that the rally might not be over. 

    XRP And Shiba Inu Rally Not Over

    The first few days of November appear to be devoid of significant crypto price movement, with the exception of occasional whale transfers. At the time of writing, XRP and SHIB are down by 1% and 2%, respectively, in a 24-hour timeframe. Bitcoin and Ethereum are also down by 2.51% and 1.93% respectively. Some crypto experts attribute this decline to traders taking profit, while others think the crypto market has returned to its normalcy of bearish sentiment.

    Popular crypto analytics platform Santiment predicted this sentiment a few days ago. According to Santiment, the Bullish Vs Bearish Sentiment Keyword turned towards a bearish ratio at the end of October. The metric, which tracks various keyword mentions like “buy,” “sell,” “buying,” “selling,” “topped,” and “bottom” on social media, spent the bulk of October on the bullish end of its range.

    The firm quickly pointed out that previous instances of higher ratios of bearish keywords had preceded gains in the market caps of popular cryptocurrencies. Aside from Bitcoin, on-chain metrics and fundamental analysis point to a continued rally for XRP and SHIB. These two cryptocurrencies, in particular, have dominated social mentions in the past few months, according to this indicator.

    Altcoins Still Poised For Growth

    On the fundamental side, XRP has done extremely well, especially as trading resumed on various crypto exchanges. XRP is up by 32% since the beginning of the year, and various analysts have pointed to another price surge. 

    A look into XRP’s price action shows a series of higher low formations since October 30, indicating waning pressure from the bears. XRP is now trading at $0.6036, and the bulls could make another attempt to break over the latest higher high of $0.62 if the price stays above $0.60.

    SHIB has also had a similar path, with updates to its ecosystem like Shibarium contributing to various price surges. SHIB’s price momentum has slowed down at the time of writing, but planned updates to the Shina Inu ecosystem could lead to another price rally soon. 

    At the same time, on-chain signals point to more bullish than bearish. SHIB whales have resumed large transfers to private wallets, as shown by data from Whale Alerts. SHIB is trading at $0.000007788 at the time of writing.

    Despite the entire market cap being down by 2.24% in the past day, data from Coinmarketcap points to greed on the Fear & Greed Index.

    SHIB holding steady above $0.000007 | Source: SHIBUSD on Tradingview.com

    Featured image from Medium, chart from Tradingview.com

    [ad_2]

    Scott Matherson

    Source link

  • Shiba Inu Burn Rate Explodes 1,300%, What Does it Mean for SHIB’s Price?

    Shiba Inu Burn Rate Explodes 1,300%, What Does it Mean for SHIB’s Price?

    [ad_1]

    TL;DR

    • Shiba Inu experienced a significant token burn, with over 100 million SHIB burned in the last 24 hours, marking a 1,300% increase from the previous day’s burn rate.
    • This program is part of the strategy to reduce SHIB’s supply, with already 41% of the initial supply burned, in efforts to increase the coin’s value over time.
    • Despite the burn, SHIB’s price fell by 4% daily and 3% weekly, in line with the broader crypto market downturn, although the launch of the Shibarium layer-2 solution may provide future price support.

    The Latest Burn Data

    The popular memecoin – Shiba Inu – witnessed over 100 million tokens burned over the past 24 hours. The figure represents an approximate increase of 1,300% compared to the burning rate the day before.

    The project has adopted such a practice to reduce the overall supply of SHIB and potentially make the asset more valuable in time. According to Shibburn, over 41% of the initial supply has already been sent to an address that nobody could access.

    Despite the skyrocketing burn figure today, SHIB has been on a downfall in resonance with the entire cryptocurrency market. It plunged around 4% in the last 24 hours (per CoinGecko’s data) and 3% on a weekly basis.

    SHIB Price
    SHIB Price, Source: CoinGecko

    Shiba Inu’s Burn in October

    As CryptoPotato recently reported, the memecoin saw almost 1.5 million tokens destroyed throughout the previous month. The record day was October 28, when more than 250 million SHIB were removed from circulation.

    The successful execution of the burning program has been touted as a bullish element that could trigger a price rally for the coin. Another factor contributing to a future rise might be the further advancement of the layer-2 scaling solution Shibarium.

    The network, which went live at the end of August, aims to elevate Shiba Inu above its rivals in the memecoin realm by improving speed and lowering transaction costs. Those curious to find out more on the matter could take a look at our video below:

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    [ad_2]

    Dimitar Dzhondzhorov

    Source link

  • Binance Will Delist 23 Trading Pairs, Shiba Inu and Dogecoin are Affected

    Binance Will Delist 23 Trading Pairs, Shiba Inu and Dogecoin are Affected

    [ad_1]

    TL;DR

    • Binance announced it will delist 23 margin trading pairs, including prominent ones like ADA/BUSD and the memecoins DOGE/BUSD and SHIB/BUSD, on November 9, with automatic closure and settlement of positions for these pairs.
    • The delisted pairs are all denominated in BUSD, a stablecoin for which Binance will end support by early 2024, advising users to convert their BUSD holdings before February 2024.
    • This move follows a previous delisting of several BUSD pairs in October, with Binance citing the need to protect users and ensure quality trading markets due to factors like poor liquidity and volume.

    Binance Removes More Trading Pairs

    The world’s largest cryptocurrency exchange – Binance – revealed that it will delist 23 margin trading pairs, including ADA/BUSD, APE/BUSD, AVAX/BUSD, BCH/BUSD, DOT/BUSD, LTC/BUSD, MATIC/BUSD, and more on November 9. 

    Interestingly, the two biggest memecoins by market capitalization – Dogecoin (DOGE) and Shiba Inu (SHIB) – are also affected by the removal of DOGE/BUSD and SHIB/BUSD. 

    “Binance Margin will close users’ positions, conduct an automatic settlement, and cancel all pending orders on the aforementioned cross and isolated margin pairs. These pairs will then be removed from Margin. Users can still trade the above assets on other trading pairs that are available on Binance Margin,” the company explained.

    It’s worth mentioning that all of these are BUSD trading pairs, and the marketplace had previously revealed that it will discontinue support for the stablecoin at the beginning of 2024. Binance has advised users to convert their BUSD holdings to other assets prior to February 2024.

    The Previous Delisting Spree

    The company removed several trading pairs last month, too. It delisted 1INCH/BUSD, AERGO/BUSD, ANKR/BUSD, RARE/BUSD, SLP/BUSD, SUSHI/BUSD and 13 more on October 6. The exact reason for the initiative remained undisclosed, with Binance stating:

    “To protect users and maintain a high-quality trading market, Binance conducts periodic reviews of all listed spot trading pairs and may delist selected spot trading pairs due to multiple factors, such as poor liquidity and trading volume.”

     

     

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    [ad_2]

    Dimitar Dzhondzhorov

    Source link

  • Shiba Inu Introduces an Important Feature: Details

    Shiba Inu Introduces an Important Feature: Details

    [ad_1]

    TL;DR

    • Shiba Inu has launched Shib Name Service (SNS) on Shibarium, its layer-2 platform, aiming to establish ‘Shibdentity’ for decentralized digital identity management with user-friendly, human-readable addresses.
    • The Shiba Inu team highlighted that SNS is a fully decentralized system that enhances security, user experience, and is resistant to censorship, putting control of digital identities back in users’ hands.
    • Shibarium has previously seen significant activity with over 3.5 million transactions and 1.3 million blocks, focusing on reducing costs and increasing transaction speed for Shiba Inu’s ecosystem.

    ‘A New Era Begins for Shibarium’

    The team standing behind the popular memecoin – Shiba Inu – announced the launch of Shib Name Service (SNS) on its layer-2 scaling solution Shibarium.

    “The moment has arrived, marking a milestone in our journey. With bated breath and anticipation, we proudly launch our ambitious venture, Shib Name Service, on Shibarium. It is our first step towards building Shibdentity, a decentralized identity platform that empowers users to own and control their digital identities,” the disclosure reads.

    The feature was described as “a disruptor that brings something special to the table: human-readable addresses.” It allows people to easily manage their Shibarium addresses and send tokens to friends and contacts using their unique initials.

    Subsequently, the Shiba Inu team assured that the SNS is fully decentralized, enhances the overall user experience, provides maximum security, reduces errors, and is censor-resistant:

    “In a world dominated by centralized systems, Shibdentity brings power back to the people. With self-custodial login systems, you will no longer depend on third-party platforms. Whether it’s Web3-based wallet authentication or decentralized social logins, you are in control of your digital identity.”

    Shibarium’s Previous Achievements

    The L2 blockchain solution, which was highly anticipated by the SHIB community, officially went live at the end of August and blasted through several milestones in the following months.

    As CryptoPotato reported, the total transactions on Shibarium exceeded 3.5 million, whereas the number of total blocks topped 1.3 million.

    The network’s main goal is to elevate the memecoin above its rivals by lowering transaction costs and improving speed. More information about its specifics could be found in the video below:

    SPECIAL OFFER (Sponsored)

    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO50 code to receive up to $7,000 on your deposits.

    [ad_2]

    Dimitar Dzhondzhorov

    Source link