Shiba Inu Nears Zero Erasure with 15% Surge in Key Metric

Shiba Inu has been at the forefront of token burns in the crypto community as burn figures continue to ramp up each week. This has led to some significant daily spikes, with some even crossing into the tens of thousands percentile. The last week has been no different, as the burn rate witnessed an 11,600% […] source: https://bitcoinist.com/shiba-inu-burn-rate-11600/

Through the rips and dips of the crypto market, the Shiba Inu price has been able to maintain a rather consistent bullish momentum, something that cannot be said for a lot of cryptocurrencies. Given this sustained bullish sentiment, the meme coin is primed to be one of the assets to see a massive rally as the market inches toward another bear market. In the short term alone, pseudonymous... source: https://www.newsbtc.com/shiba-inu/100-surge-for-shiba-inu/

During the past week, Solana-based memecoin Bonk has emerged as the standout performer among rivals. The digital asset saw a remarkable 150% increase in value, surpassing the gains of Dogecoin, Shiba Inu, Pepe, and Floki Inu, ultimately reaching an all-time high. This price movement has pushed it to the third-largest dog-themed memecoin by market capitalization behind only Dogecoin and... source: https://beincrypto.com/bonk-memecoin-outperforms-doge-shib-pepe-floki/

The Shiba Inu ecosystem has witnessed a major milestone with the completion of the first hard fork of the Shibarium network at block height 1,962,000. This fork introduces significant changes to the network’s infrastructure, particularly focusing on token-burning mechanisms and the transition to a more efficient network layer. Enhanced SHIB Burn Mechanism One of the […] source: https://bitcoinist.com/shiba-inu-first-shibarium-hard-fork/

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.

According to CryptoPotato, Shiba Inu, the popular memecoin project behind SHIB, has partnered with UGC creator platform RSTLSS. The collaboration will integrate the Shibarium layer-2 blockchain into RSTLSS's operations, promoting advancements in Web3 and the gaming industry. RSTLSS had previously teamed up with Paris Hilton's entertainment company, 11:11 Media.Shiba Inu Lead Developer Shytoshi Kusama expressed excitement about the partnership, stating that RSTLSS's UGC tooling allows creators to easily build a brand and trade their digital merchandise. RSTLSS founder Charli Cohen also spoke about the collaboration, emphasizing the importance of avoiding operating in silos in the Web3 sector and the power of collective change.The expansion of the Shibarium layer-2 solution, which has recently surpassed 3.5 million transactions and 1.3 million total blocks, could potentially boost Shiba Inu's price by improving transaction efficiency. The network aims to elevate the memecoin above its rivals by increasing speed and reducing transaction costs.

According to CoinDesk, popular meme tokens dogecoin (DOGE) and shiba inu (SHIB) experienced a 9% increase in the past 24 hours, indicating that crypto traders are taking riskier bets due to bitcoin's (BTC) strong performance. Although there were no immediate catalysts for the price jump of SHIB and DOGE tokens, the surge occurred on Thursday after social media platform X, formerly Twitter, announced a video calling feature for premium users. This could be a sign of irrational exuberance, as some traders have historically expected X to add DOGE as a payment option. X CEO Elon Musk has frequently praised dogecoin as one of his favorite cryptocurrencies, even dedicating a segment to the meme coin during his appearance on the popular TV show “Saturday Night Live” in 2021.Cumulative trading volumes for the tokens increased to $1.2 billion on Thursday from $350 million on Monday, according to data. Additionally, open interest in DOGE and SHIB futures spiked over 50%, indicating larger bets placed by traders who expect more volatility in the coming days. Hopes of a spot bitcoin exchange-traded fund (ETF) contributed to bitcoin prices rising approximately 30% over the past week before retreating, with ether (ETH), solana (SOL), and xrp (XRP) adding as much as 40%. DOGE and SHIB added just 15% in the same period. However, the tokens underperformed other major cryptocurrencies despite being generally more volatile. A run-up in both these tokens has historically marked a local top for bitcoin and other major tokens. Blockchain analytics firm Santiment reported in December that 'every time that the price of DOGE starts rising rapidly, there’s a market-wide crash following just moments later.' The firm noted in its report that eight instances of price spikes of dogecoin marked the local top for bitcoin and the crypto market in 2022.

Odaily Planet Daily News Shiba Inu developers have launched the Ethereum L2 expansion solution Shibarium mainnet. Applications built on top of this network will use BONE, TREAT, SHIB and LEASH tokens. Shibarium will focus on the deployment and development of Metaverse and gaming applications. It is reported that during the Shibarium testnet, users have created more than 21 million wallet addresses. Shibarium will utilize Heimdall validators and Bor block production nodes, similar to the Polygon ecosystem. Heimdall will be based on the Tendermint consensus engine, while Bor will be fully interoperable with the Ethereum Virtual Machine. Users must lock 10,000 BONE in the Shibarium network to become a validator. 21 million BONEs will be reserved as rewards for verifiers and delegators within the Shibarium ecosystem, and will be used to pay authorized Gas fees. According to the Ouyi OKX market, SHIB is currently quoted at 0.000009027 USDT, a 9.80% drop in 24H. (CoinDesk)

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)