According to Odaily, Shiba Inu (SHIB) has expanded its utility by supporting Web3 food delivery payments. It is reported that users can now place orders on the Web3 food ordering and delivery platform, DevourGO, using SHIB. However, it remains unclear whether this is the first time SHIB has been used for food delivery orders. This development marks another step in the integration of cryptocurrencies into everyday transactions, further demonstrating the growing acceptance and adoption of digital currencies in various sectors. As more platforms begin to accept cryptocurrencies as a form of payment, the use of digital currencies like SHIB in everyday transactions could become more commonplace. However, the specifics of how this integration will work and its potential impact on the broader cryptocurrency market remain to be seen.

According to U.Today, the Shiba Inu community has been alerted about an increasing number of scams on Telegram. Fraudsters are reportedly impersonating official Shiba Inu ecosystem Twitter accounts on Telegram, particularly those related to Shibarium and Treat, with the intention to deceive and defraud users. These scammers are exploiting the popularity of the Shiba Inu ecosystem by creating fake Telegram accounts that mimic the official Shiba Inu X Twitter handles. These fraudulent accounts bear identical names to the official Shiba Inu X accounts and are designed to mislead users into believing they are interacting with legitimate Shiba Inu projects, thereby gaining their trust and potentially stealing their assets. Shibarmy Scam Alerts, an account dedicated to exposing scams, has issued a safety warning for the Shiba Inu community to be wary of fake Telegram accounts as scammers impersonate official Shiba Inu ecosystem accounts. The Shiba Inu-focused account stated that the Shiba Inu team runs the @Shibariumnet and @Treatsforshib accounts on Twitter. However, on Telegram, these accounts are run by scammers. The Shiba Inu community is advised to stay vigilant and cautious when interacting with Telegram accounts. They should always verify identities as well as any announcements or offers against the official Shiba Inu website and Twitter accounts. They should also never disclose personal information, private keys or wallet seed phrases to anyone claiming to represent Shiba Inu. This is because official representatives would never ask for such sensitive information. The Shiba Inu team is not conducting token airdrops, nor are any giveaways planned for the immediate future; thus, the community is urged to remain skeptical of such claims. The key message is to stay safe, never to click on suspicious links and to refrain from sharing wallet keys or personal information with anyone.

SHIB, BONE, LEASH and Sheboshis holders should pay attention source: https://u.today/shiba-inu-crucial-telegram-alert-issued-to-shib-holders-heres-reason

According to U.Today, the meme cryptocurrency Shiba Inu (SHIB) has overtaken Cardano (ADA) in terms of market capitalization. As per CoinMarketCap, the current values of these two cryptocurrencies stand at $16.9 billion and $16.5 billion, respectively. In the last 24 hours, the price of SHIB, the second-largest meme coin, has seen a surge of over 16%, outperforming other major cryptocurrencies. In comparison, Dogecoin (DOGE), which is currently in eighth place by market capitalization, has only seen a modest increase of 2.4%. Other smaller meme coins are also experiencing significant rallies. For example, Solana-based dogwifhat (WIF) has seen a surge of 21.4%, outperforming SHIB. Other coins such as Floki (FLOKI) and Bonk (BONK) have also recorded double-digit gains. Pepe, despite being an outlier with only a 1.1% increase, has still added 18% over the past week. In October 2021, SHIB briefly surpassed DOGE in market cap. It remains uncertain whether it will be able to repeat this achievement this year, as there is currently a $7 billion gap between the two rival meme coins. Despite the recent price surge, SHIB is still down 66% from its peak on Oct. 28, 2021. However, data from IntoTheBlock shows that 70% of SHIB holders are making money at current prices, with the majority (76%) having owned the cryptocurrency for more than a year.

According to U.Today, Shiba Inu's on-chain data has shown a significant increase in large transactions. The number of such transactions has risen from 82 to 341 in the last 24 hours, indicating a substantial increase in investor activity. The total volume of these large transactions is 5.7 trillion SHIB, reaching a seven-day high of 8.97 trillion SHIB on May 16, 2024. Several factors could be contributing to this increased activity in large transactions. One possibility is that expectations of significant price action have led whales to reposition. Alternatively, it could be due to strategic portfolio adjustments, new partnerships, or unannounced ecosystem developments within the Shiba Inu project. The Shiba Inu is currently trading within an uptrend channel pattern, with the current price level at approximately $0.00002550. The 50-day exponential moving average is supporting the price, and the 200-day exponential moving average is closing in below the current price, indicating a generally medium- to long-term bullish trend. The Bollinger Bands are slightly expanding, suggesting that volatility is starting to increase and could soon lead to more substantial price moves. The Relative Strength Index stands at 54.79, indicating that SHIB has not been oversold or overbought, suggesting a potential upward move. The surge in large transactions could be a result of whales having access to information and resources that regular traders do not, allowing them to position themselves in anticipation of market changes. This increase in SHIB activity could be seen as an indication of their confidence in potential future gains from investing in Shiba Inu.

Coinbase International announced today that it will add support for Bonk, FLOKI, and Shiba Inu perpetual contracts on Coinbase International Exchange and Coinbase Advanced. The 1000BONK-PERP, 1000FLOKI-PERP, and 1000SHIB-PERP markets will be available on or after 9:30 AM UTC on May 30, 2024.

According to U.Today, the Shiba Inu (SHIB) community has experienced a significant event as over 24 million SHIB tokens were burned within the last 24 hours. This marks a substantial increase in the burn rate of the meme-inspired cryptocurrency, with data from Shibburn, a platform that tracks token burn activity, indicating a 241.86% increase in the burn rate during this period. Token burning is a process where a certain amount of a coin is deliberately removed from circulation by sending it to an inaccessible wallet. This is often seen as a bullish indicator in the crypto space. The belief is that token burns contribute to making the coin more deflationary, potentially increasing its value, and fostering a healthier ecosystem for the respective digital asset. The surge in SHIB token burning has led to speculation within the community about its potential impact on the price. Currently, the meme coin is trading at $0.00002268, with a marginal decrease of 0.25% over the past 24 hours. However, the broader trend shows a more concerning picture, with SHIB experiencing a significant decline of 19.82% over the last 30 days, indicative of a prevailing bearish sentiment. Despite the recent increase in token burning activity, questions remain about whether this development will be enough to reverse the downward trajectory of the SHIB price. While token burns can inject bullish momentum into a coin, their impact is often influenced by various factors, including market sentiment, investor confidence, and broader industry trends. The Shiba Inu community is closely monitoring further developments, waiting to see if the substantial burn rate surge for the meme coin will translate into tangible price gains, or if additional catalysts will be needed to navigate the current bearish sentiment.

In a recent update from the Shiba Inu community, lead developer Shytoshi Kusama shared insights about the team’s ongoing discussions with potential partners for Shibarium’s integration with major centralized exchanges. This move aims to propel Shibarium further into the mainstream, fostering increased adoption and accessibility. Shibarium’s Journey So Far Launched in mid-August, Shibarium faced a minor technical glitch shortly after its introduction.&middot For the full story, head over to TheCurrencyAnalytics.com.

Odaily Planet Daily News The Shiba Inu ecosystem will link all applications with blockchain-based digital identities to strengthen trust between SHIB users and the government. Shiba Inu is laying the groundwork for a new global standard for decentralized digital trust and international identity verification, according to Shiba Inu lead developer. They have been working with community projects (such as those using SHIB or planning to build on the upcoming Shibarium chain) to ensure Self-Sovereign Identity (SSI) deployment is a priority. (CoinDesk)