Shiba Inu (SHIB) Gains New Demand: Will it Drive Price Upward?
Shiba Inu's performance in May 2023 was lackluster, but on-chain data suggests that the cryptocurrency has been attracting new demand in recent weeks. This is a positive development after Shiba Inu lost market share to other meme coins in early May. The recent launch of Shiba Inu's cold wallet has rejuvenated the network's growth, which could impact the price in the coming days. The increase in new users joining the network and the supply shortage could trigger more price gains, with bulls targeting $0.000011. However, the price could slip into a bearish trend if it drops below the $0.000008 support zone.
Koyo Token Burns Nearly 152 Million SHIB in One Transaction, Shiba Inu Community Burns Over 182 Million SHIB in 24 Hours
Koyo Token has burned almost 152 million SHIB in a single transaction, contributing to a total of 182.52 million SHIB burned in the past 24 hours. This follows a two-month pause in burning activities by Koyo, which had previously permanently removed 1.49 billion SHIB from circulation in April. The Shiba Inu Community has burned a total of 182.52 million SHIB through two separate transactions in the past 24 hours, representing a significant increase in the overall burn rate compared to the previous day.
Shytoshi Kusama Reaches Out to Hotbit for Dialogue Ahead of Anticipated Shutdown, Showing Commitment to SHIB Holders
Shytoshi Kusama, the leader of the Shiba Inu project, has requested direct communication with Hotbit before the exchange shuts down its centralized exchange operations. Kusama aims to explore potential collaboration and address concerns to ensure a smooth transition for SHIB holders using the HotBit platform. This move comes after speculation about a positive update for the SHIB community following Kusama's trip to Japan. Kusama's outreach demonstrates his commitment to prioritizing the interests of SHIB token holders and facilitating a smooth transition for those needing to withdraw their tokens from Hotbit before the June deadline.
Mysterious Wallet Burns Nearly 31 Million Shiba Inu, Causing 121.60% Surge in Burn Rate
A single wallet has removed nearly 31 million Shiba Inu (SHIB) from circulation, causing the burn rate to surge by 121.60% over the last day. The mysterious wallet has consistently burned many SHIB tokens for the past seven days, with a total of 63,898,506 (63.89M) SHIB burned through thirteen separate transactions. The latest transaction, which burned 30,581,998 (30.58M) SHIB, represents the largest one so far. The wallet has also sent SHIB to a dead wallet in several separate transactions.
Shiba Inu Faces Further Losses as Bitcoin Prices Remain Bearish
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Google Bard Predicts Future Value of Shiba Inu and Tradecurve Cryptocurrencies
According to Google Bard, an AI-powered chat bot, both Shiba Inu and Tradecurve are undervalued cryptocurrencies with potential for growth. Bard predicts that Shiba Inu could reach $0.000014 by the end of 2023, representing a significant increase in value.
Shiba Inu Community Burns Over 15 Billion SHIB in May 2023, Blaze Token Emerges as Top Burner
In May 2023, the Shiba Inu community burned over 15 billion SHIB tokens through 191 transactions, marking a 370% increase in burn rate compared to the previous month. Blaze Token emerged as the top SHIB burner of the month, permanently eliminating 11.5 billion SHIB from circulation through five transactions. MARSWAP and a Coinbase-associated wallet also made significant contributions to reducing the SHIB supply. Despite the intense burn activity, the Shiba Inu price has lost 13.7% of its value in the past 30 days and is currently trading at $0.00000854.
Kraken Adds Futures Trading For Shiba Inu
Kraken, the third-largest cryptocurrency exchange in the world, has launched futures trading for Shiba Inu (SHIB) on its advanced crypto trading platform, Kraken Pro. The exchange has added a new perpetual futures trading pair, SHIB/USD, with up to 10x leverage.
HEEL NFTs and Liquidity Pool Migration to Shibarium Planned by Shiba Inu Ecosystem
The Shiba Inu ecosystem is set to launch an NFT collection and move a liquidity pool from Ethereum to Shibarium. The upcoming Shibarium layer two mainnet ecosystem could help stabilize the volatility of Shiba Inu and attract more DeFi developers. The HEEL NFT project is transitioning to the Shibarium network, with 3475 HEEL NFTs available for minting in the next 48 hours. The HEEL team has reserved some NFTs for early discounted mint passes and staking reward pools, and a portion of the mint proceeds will go towards the HEEL Governance entity.
Shiba Inu Regains AAA Rating on Certik's Blockchain Security Platform
Shiba Inu has regained its AAA rating on Certik's blockchain security and auditing platform, after concerns were raised about the recent drop in the meme coin's rating. Certik has increased Shiba Inu's Skynet Security Score to 94.05, resulting in a significant jump on the Certik Security Leaderboard. The recent drop in rating is believed to be caused by several factors, including a possible delay in Shibarium launch, decline in SHIB burns, and SHIB price fall.
Blaze Token Burns Over 3.60 Billion SHIB in Record-Breaking Transaction, Removing 11.55 Billion Monthly
Blaze Token has burned a total of 3.60 billion SHIB in the past 24 hours and 11.55 billion SHIB in the past month, with the latest burn being worth $31,621. This marks the fifth time in four weeks that Blaze Token has undertaken such a massive burning of SHIB.
Shiba Inu Trader Turns $30k Investment into $450k in Three Years Through Successful Token Trades
A trader of Shiba Inu (SHIB) has turned a $30,000 investment into $450,000 in just three years through successful trades with various tokens, including SHIB.
Shiba Inu Sees Increase in New Addresses Despite Underwhelming Performance
According to on-chain data, the number of new addresses on the Shiba Inu network has increased, indicating potential increased demand for the token. However, long-term holders of SHIB have experienced losses due to the token's underwhelming performance. Despite this, Ethereum whales continue to hold onto their SHIB holdings and trade the token, suggesting that it may still be a valuable asset in the long term. While active addresses have improved, the weighted sentiment towards SHIB remains negative.
Tangem Confirms Delivery Date for 5,000 Shiba Inu Cold Wallet Pre-Orders
Swiss-based hardware wallet manufacturer Tangem has confirmed that delivery of the first 5,000 Shiba Inu (SHIB) cold wallets pre-ordered from their dedicated platform will begin in early July. Each set of wallets, which includes three cards, costs $77.70 and can be paid for with crypto assets or fiat currencies. Worldwide shipping typically costs an average of $10, bringing the total cost to $87.70. Users can initiate pre-orders on the platform, which is currently live.
Shiba Inu (SHIB) Addresses Cross 16M Amid Soaring Network Activities
The number of wallets connected to Shiba Inu Shibarium's Puppynet testnet has exceeded 16 million, with network activity and transaction volume on the rise since the testnet's launch on March 11. The increased transaction volume has coincided with a period of high wallet creation, with Glassnode data showing the highest increase in three months on May 26. Shiba Inu's rising network activity has also led to a surge in social metrics, with SHIB among the top 10 coins by social mentions over the past week. The launch of Shibarium's mainnet is expected before the end of the year, which could boost the value of related tokens such as SHIB, BONE, and LEASH.
SHIB Burn Rate Surges by 1500% as CultPunks Wallet Burns 246.7M Tokens
Despite competition from another meme coin called PEPE, the Shiba Inu (SHIB) token still has a strong and committed community. In the past 24 hours, the SHIB community has increased the burn rate of SHIB tokens by over 1500%, with a single wallet burning 246.7 million tokens. This wallet belongs to the CultPunks team, who have committed to burning SHIB tokens with a portion of their raised funds. Despite the increase in burn rate, the SHIB token price continues to struggle and is currently trading at $0.00000996, down 12.8% over the past two weeks.
The Emergence of Hollywood X PEPE: A New Contender in the Meme Coin Market
Meme coins have gained popularity in the world of cryptocurrencies, with Shiba Inu Coin (SHIB) being a well-known example. However, a new contender called Hollywood X PEPE is emerging and gaining momentum. Hollywood X PEPE is unique in that it is the first meme coin backed by big names in the entertainment industry, and aims to create an ecosystem where Hollywood stars and fans can interact on a blockchain platform. The team behind Hollywood X PEPE is demonstrating a solid business model and transparency, and their YouTube channel offers valuable insights into the coin and its vision. As with any investment, it is important to do your due diligence before diving in, but Hollywood X PEPE is definitely worth watching as it vies for a place in the meme coin hall of fame.
Shiba Inu Whale Moves 500 Billion SHIB to Closed Exchange
A Shiba Inu Whale recently transferred 499.6 billion SHIB, worth $4.24 million, to the now-defunct Hotbit crypto exchange. The whale had been dormant for seven and a half months before waking up to clear out its SHIB holdings, which it had purchased at a higher price a year ago. The wallet address associated with the whale has reportedly made over $70 million in profits from trading SHIB since its creation in April 2021, mostly during a surge in October 2021. The move to transfer assets to a closed exchange has raised questions about the whale's intentions, as well as the difficulties faced by Hotbit users in withdrawing their assets.
Shiba Inu's Shibarium Mainnet Launch Predicted for July by Lucie and Shytoshi Kusama
Lucie, a member of the Shiba Inu (SHIB) marketing team, predicts that the Shibarium mainnet launch will take place in July, contradicting an earlier prediction by Shibarium1 for an August launch. The launch date has been a topic of discussion among the community, with multiple teams working on the project, including AI integration. The Shibarium and Ethereum bridge has achieved a bi-directional transactional and trustless environment between the two networks, enabling users to transfer tokens without third-party risks or impact on market liquidity. The Shibarium beta version has recorded daily transactions of 428,231 and a total transaction of 12,406,178, with a current neutral market sentiment and a trading price of $0.000009.
Investors Turn to Utility Tokens as Warren Buffet Sells Stocks, Collateral Network (COLT) Presale Poised to Overtake Shiba Inu (SHIB) and Dogecoin (DOGE) in 2023
Warren Buffet has sold over $13 billion in stocks, indicating that he may be preparing for a stock market crash as the dollar reaches new heights. The crypto market is shifting towards utility tokens rather than speculative assets, with utility and consumer staple stocks performing better than tech stocks in a high-rate recessionary environment. Analysts predict that the Collateral Network (COLT) presale will surpass Shiba Inu (SHIB) and Dogecoin (DOGE) in 2023, and investors should recognize market patterns and adapt accordingly. Collateral Network is a utility-focused token that provides a platform for lenders to earn passive income on stable assets and unlocks liquidity for real-world assets, with analysts forecasting a 35X increase in the price of the $COLT token in the coming weeks.
