As a seasoned crypto investor with a knack for spotting opportunities amidst market turbulence, I find myself intrigued by Shiba Inu’s current predicament. The 4.75% plunge within the past 24 hours might seem daunting to some, but the resilience of this meme coin never ceases to amaze me.
Currently, at the point of writing, Shiba Inu (SHIB) is being traded at approximately $0.00001691. This represents a decrease of 4.75% over the past 24 hours. Although this price movement suggests a potential downturn, there are some optimistic vibes within the Shiba Inu community that hint towards a possible rebound.
SHIB burn rate and Shibarium daily transactions on rise
The dedicated tracker for Shiba Inu, known as Shibburn, reveals that the data related to its burning process surged by a significant 114.36% within the past day. This surge resulted in the destruction of approximately 9,071,593 SHIB tokens. With this high burn rate, a staggering amount of 410,731,258,074.742 SHIB coins have been obliterated from the total supply initially issued for Shiba Inu.
As a proud Shiba Inu crypto investor, I’ve been impressed to see that daily transactions on our beloved dog’s Layer-2 scaling blockchain, Shibarium, can reach an astounding 4.75 million. That’s a testament to the thriving community and growing adoption of this amazing project!
Following a significant dip to 3,000 in early October as noted by Shibarium, this figure has since climbed to 4.77 million by Friday, reflecting the increasing popularity. Currently, there have been approximately 435,711,744 transactions, with 7,549,163 blocks produced at an average interval of just five seconds.
The stress exerted on its growth could lead SHIB’s price to bounce back. Notably, Shibarium ranks among the busiest L2 blockchain platforms, a fact that may attract even more users, expanding the uses of SHIB.
A rise in demand and network activity could potentially trigger a shortage in supply, which might initiate an upward trend in prices momentarily.
SHIB community anticipates good news
Right now, the Shiba Inu (SHIB) ecosystem is experiencing a highly optimistic and bullish phase. This surge started following a brief announcement from LUCIE, the network’s marketing head, on platform X.
“Step by Step. Patience,” She wrote.
This statement may not directly refer to Shiba Inu, Shibarium, or the eagerly awaited SHI stablecoin, but it seems to be a motivational message for the Shiba Inu community.
The post is arguably urging them to remain patient and believe that the best times for the Shiba Inu ecosystem are ahead.
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2024-10-26 19:02