Shiba Inu

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The Shiba Inu ecosystem has been under extreme pressure in recent weeks as a wave of controversy dealt a blow to the confidence of investors in the ecosystem. 
From speculation that the Shibarium testnet chain is the same as Rinia’s, to BitBoy accusing Shytoshi Kusama as being Sam Bankman-Fried, fear, uncertainty, and doubt about the ecosystem worsened. 
However, investors seem thrilled about the recent release of the Shibarium testnet called PuppyNet. This overcame the FUD surrounding the ecosystem, showing investors that SHIB is resilient even with the odds stacked against them. 
However, the confidence seemed to be shaken with CoinGecko showing SHIB shedding more than 6% in the weekly timeframe. 
Burn Rate Falls By Nearly 70% This Week 
The burn rate for Shiba Inu has been in decline following the token’s price drop in the past couple of weeks. ShibBurn, a dedicated Twitter account for tracking the burn rate of SHIB, recently took note of a 70% decline in burn rate in the weekly timeframe. This already recovered to a general decline of 63%, but it remains a problem in the long term. 

HOURLY SHIB UPDATE$SHIB Price: $0.0000105 (1hr -0.26% ▼ | 24hr -0.67% ▼ )
Market Cap: $6,204,903,177 (-0.52% ▼)
Total Supply: 589,608,944,526,096
TOKENS BURNT
Past 24Hrs: 36,808,721 (1107% ▲)
Past 7 Days: 856,350,309 (-63.42% ▼)
— Shibburn (@shibburn) March 27, 2023

This followed the FUD surrounding the ecosystem which worsened with the recent accusations around Shibarium and Shytoshi. Despite this, the Shiba Inu community still seems bullish on Shibarium with Shytoshi reassuring the community. 

Woof
Facts: THOUSANDS OF PROJECTS JOINING #Shibarium WILL BURN $SHIB $SHIB #SHIB #SHIBA #ShibaInu #SHI barium #SHIBARMY #ShibaArmy #SHIBARMYSTRONG  pic.twitter.com/WxDPEvKOp8
— SHIB Bezos (@BezosCrypto) March 27, 2023

At $0.00001055, Should Shiba Inu Investors Worry?
As of writing, the token is currently trading at a very narrow range. If the token breaks through $0.00001077, SHIB can target $0.00001192 with confidence. Investors and traders can also enjoy the low correlation with the major currencies which is currently stagnant right now. 


However, investors should also take note of the macroeconomic developments that are currently affecting the broader financial market. 
The recent interest rate hike by the US Federal Reserve would affect sentiment surrounding financial assets, especially cryptocurrencies like SHIB as they are riskier than traditional financial instruments. 




If the crypto market reacts negatively to the recent interest rate hike in the coming weeks, we might see pain come to SHIB. However, the recent speculation around a possible collaboration with Paramount Pictures should pump the price in a couple of days. 
In the meantime, Shiba Inu investors and traders should be confident in buying SHIB as it currently shows a minimal possibility of a downside with a higher likelihood of an explosive upside. 
-Featured image from Unsplash


The Shiba Inu ecosystem has been under extreme pressure in recent weeks as a wave of controversy dealt a blow to the confidence of investors in the ecosystem. From speculation that the Shibarium testnet chain is the same as Rinia’s, to BitBoy accusing Shytoshi Kusama as being Sam Bankman-Fried, f...

bitcoinist.com

Shiba Inu Burn Rate Falls 70% This Week – Is The FUD Gaining Momentum?

The team behind Shiba Inu’s (SHIB) new layer-2 scaling solution says the protocol aims to provide quick and cost-effective transactions.
New public documentation reveals that Shibarium, which launched its beta version earlier this month, plans to acheive “true decentralization” by creating a protocol that charges minimal transaction fees, if not zero.

According Shiba Inu lead developer Shytoshi Kusama, Shibarium will offer low transfer fees for every project built on the layer-2 protocol, noting that the goal is to process transactions in “seconds for less than pennies.”
Touted as the “blockchain of [the] people,” Shibarium plans to become a secure, transparent and scalable blockchain that acts as a base layer for the development of new projects.
 “The blockchain ensures secure and transparent creation and exchange of digital assets. In addition, it serves as a base for the development of decentralized applications (DApps), including Shib – The Metaverse (Shib.io), Shiba Eternity, and various other products, projects, platforms, and services within the broader Shiba Inu community.” 
The public documentation also offers more insight on Shibarium’s burning mechanism. The document says that the burn mechanism will kick in after the protocol accumulates a specific amount of Bone ShibaSwap (BONE), the token that will be used for gas fees on Shibarium.
 “When a user makes a transaction on the network, the base fee is locked on a contract on Shibarium, while the priority fee is paid to the validator. This base fee will be split in 70% burned and 30% set aside to maintain the network. 
Once a certain amount of BONE ($25,000) is accumulated in the burn contract, users can start the burn process from Shibarium.” 
Shiba Inu is trading for $0.000011 at time of writing, a slight dip in the last 24 hours.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Alexander Limbach/WindAwake
The post Shiba Inu’s Shibarium Aims To Process Transactions in Seconds for Less Than Pennies: New Public Documentation appeared first on The Daily Hodl.


The team behind Shiba Inu’s (SHIB) new layer-2 scaling solution says the protocol aims to provide quick and cost-effective transactions. New public documentation reveals that Shibarium, which launched its beta version earlier this month, plans to acheive &#8220;true decentralization&#8221; by cre...

dailyhodl.com

Shiba Inu’s Shibarium Aims To Process Transactions in Seconds for Less Than Pennies: New Public Documentation

The documentation for Shibarium, the layer-2 technology of Shiba Inu, was published by the developers two days ago, revealing more details about how it works. Among other things, the documents describe how the Shibarium Proof-of-Stake and the Ethereum Shibarium Bridge relate to each other.
While Shibarium’s Proof of Stake (PoS) chain uses side chains to process transactions, the bridge enables a bidirectional transaction environment between Shibarium and Ethereum. Moreover, the documents reveal that the PoS algorithm requires users to stake their BONE tokens.

Why yes, you are correct. $BONE  is the gas for #SHIBARIUM.  pic.twitter.com/r0UuVyoITq
— Shib Dream * Shiba Inu News * Shib Army Social  (@theshibdream) March 26, 2023

Further, the platform’s blockchain technology allows users to create programmable tokens and smart contracts that are used in a variety of applications such as initial coin offerings (ICOs) of fungible tokens and non-fungible tokens (NFTs). Transaction fees are expected to be less than $0.01.
SHIB Influencer Lucie pointed out other key takeaways from the documentation in several tweets. One important cornerstone is the Shibarium Staking Manager.

As Lucie writes, proof-of-security consensus is ensured by having Shibarium perform all proof-of-concept and deployment verification operations on the Ethereum smart contract, leaving the computationally intensive tasks to layer-2.
Stakeholders can take on the role of validator, delegate, or observer to report fraud. This is where the Stake Manager comes in, which is the primary contract for validation-related activities such as managing stakes, distributing rewards and verifying signatures.
“Only one role, either validator or delegator, can be assigned to a single Ethereum address as a design choice. Using NFT ID as the source of ownership ensures that changes in ownership and signer will not impact the system,” Lucie further explained.
An important insight from the documentation also relates to the burn mechanism. When users make a transaction, a fee is incurred that is divided into two parts: the base fee (70%) and the priority fee (30%). The latter is paid to the validator, while the base fee is burned.

“Once a certain amount of BONE ($25,000) is accumulated in the burn contract, users can start the burn process from Shibarium. Once this process starts, accumulated BONE are sent to Ethereum’s L1, where an automated swap for SHIB takes place, and this amount gets burned calling its contract function,” Lucie further elaborates.
The All-In One Shiba Inu Wallet For Shibarium
Unification, the developer of Shibarium, has also announced an all-in-one wallet for the layer-2 technology and Shiba Inu. The wallet will enable two-way asset transfers between the first and second layer, staking/delegating, and will include a Shibaswap integration.
The project has also already been highlighted in Shibarium documentation and further publicized by Ringoshi Toitsu, a pseudonymous Unification Validator operator.

#Unification has built a revolutionary new 'Shibarium POS Chain' exclusively for $SHIB, as described in #Shibarium documentation. 
This game-changing innovation offers a seamless wallet app, two-way asset transfers between L1 & L2, staking/delegating, & #Shibaswap integration. pic.twitter.com/yUhdHgucJW
— Ringoshi Tōitsu (@RingoshiToitsu) March 26, 2023

At press time, Shiba Inu was trading at $0.00001051, continuing its downtrend that persists since the beginning of February 2023.




The documentation for Shibarium, the layer-2 technology of Shiba Inu, was published by the developers two days ago, revealing more details about how it works. Among other things, the documents describe how the Shibarium Proof-of-Stake and the Ethereum Shibarium Bridge relate to each other. While ...

Shiba Inu: These Are The Key Takeaways From The Shibarium Docs

Popular meme coin Shiba Inu (SHIB) is witnessing a major change in the number of large transactions processed through its network, according to the crypto analytics firm IntoTheBlock.
IntoTheBlock defines large transactions as transfers that are bigger than $100,000 and says the metric “acts as a proxy” for the activity of institutional investors and high-net-worth individuals.

According to the analytics firm, Shiba Inu’s current large-transaction momentum indicator is down 3.08%, which it says is a bearish signal.
SHIB is trading at $0.000011 at time of writing. The 15th-ranked crypto asset by market cap is down more than 1.70% in the past 24 hours and more than 15% in the past 30 days. Even with the recent correction, the Ethereum (ETH)-based memecoin is up 37.5% since the start of 2023.
IntoTheBlock also reports that the vast majority of SHIB holders continue to remain underwater on their investments in the asset.
The insights firm notes that only 30% of SHIB holders are making money at the asset’s current price, compared to 5% that are breaking even and 65% that are sitting on losses.
The firm also says 67% of Shiba Inu holders have held on to their SHIB for over a year, with 30% owning the top meme token for a period of between one month and 12 months. The remaining 3% of SHIB holders have owned their Shiba Inu for less than a month.
Shiba Inu remains more than 87% down from its all-time high of $0.00008616, which it hit in late October 2021.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Featured Image: Shutterstock/karnoff
The post Major Shift in Large Shiba Inu (SHIB) Transactions Underway, According to Crypto Analytics Firm IntoTheBlock appeared first on The Daily Hodl.


Popular meme coin Shiba Inu (SHIB) is witnessing a major change in the number of large transactions processed through its network, according to the crypto analytics firm IntoTheBlock. IntoTheBlock defines large transactions as transfers that are bigger than $100,000 and says the metric &#8220;act...

Major Shift in Large Shiba Inu (SHIB) Transactions Underway, According to Crypto Analytics Firm IntoTheBlock

The second largest meme coin, Shiba Inu, has gained more traction recently. Though its launch was inspired by Dogecoin (DOGE), Shiba Inu has gradually risen with more functionalities for users. SHIB is attracting more attention from different sectors globally with its operations and performance.
In a new development, Shiba Inu is moving into the Portuguese market. An NFT marketplace Tokapi has announced adopting SHIB for exclusive NFT transactions through BitPay.
Tokapi Integrated SHIB As A Payment Option
Portugal-based NFT marketplace, Tokapi, is partnering with one of the prominent crypto payment processors, BitPay. The NFT marketplace has included Shiba Inu (SHIB) among the popular crypto payment options besides Bitcoin (BTC) and Ethereum (ETH). This means that customers on the Tokapi platform can purchase NFTs with SHIB through BitPay services. 
Related Reading: ChatGPT Can Now Browse The Internet – What This Means For Crypto
The collaboration with BitPay aligns with Tokapi’s plans to expand cryptocurrency payment options. Also, it provides NFT collectors and enthusiasts with more flexible options for purchasing NFTs. With this newest addition, Tokapi now has sixteen crypto assets as payment options on its platform. 
Tokapi is an NFT marketplace headquartered in Lisbon, Portugal. It offers a user-friendly platform to buy and sell digital collectibles. The marketplace covers music, digital art, clothing, and real estate.

Additionally, the NFT marketplace announced the availability of SeerLight’s exclusive NFT edition by Ronald Kuang, the famous LA-based Illustrator and Animator. Tokapi stated that customers could only purchase the NFT collection exclusively using Ethereum (ETH).
Also, Kuang’s two other popular NFT editions, Mirage and Hunters in the Snow, are available on Tokapi platform. Mirage was inspired by the prominent KHM’s architecture, while Pieter Bruegel’s original work inspired the latter.
SHIB Price Action
Shiba Inu is one of the crypto tokens with increasing growth recently. Launched in 2020, Shiba Inu ranks as the second-largest meme coin after DOGE. 
At the time of press, SHIB is trading at $0.00001065 after plummeting by 1.36% over the past 24 hours. According to data from CoinMarketCap, Shiba Inu boasts a market cap of $6.25 billion, ranking as the 14 top crypto asset. Also, SHIB has a 24-hour trading volume of over $205 million, showing a drop of 34.93%. Its market dominance is 0.54%.

The price of SHIB dropped over the past seven days and 30 days by 1.33% and 16.56%, respectively. However, SHIB surged by 23.87% over the past 90 days.
Also, Shiba Inu has witnessed a spike in social activity. According to the report from Lunar Crash, SHIB’s social activity reached a three-month high of 47,880. Currently, SHIB is ranked as the 4th top crypto by Twitter following, with about 3.6 million followers on the official page.
Featured image from Pexels and chart from Tradingview.com


The second largest meme coin, Shiba Inu, has gained more traction recently. Though its launch was inspired by Dogecoin (DOGE), Shiba Inu has gradually risen with more functionalities for users. SHIB is attracting more attention from different sectors globally with its operations and performance. ...

Shiba Inu price	$0.00001
Low - High 24H	$0.00001 - $0.000011
Market cap	$6.15B
Volume 24H	$315.95M
All time high	$0.000086 -87.90% October 28th 2021
All time low	$0.00 18489408.65% November 28th 2020
Genesis date	N/A

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