LUCIE Archives

20th February 2024

Shiba Inu: Shibarium Transaction Activity Spike Amid Market Growth

Shiba Inu layer 2 blockchain platform Shibarium, has witnessed a notable surge in transaction activity carried out on the platform, with its daily transaction performance reaching a new monthly high.

Shibarium Daily Transactions Skyrocket

The number of transactions on the layer 2 blockchain has skyrocketed since Shibarium was introduced, surpassing multiple noteworthy benchmarks. Recent data from Shibariumscan has revealed an uptick in daily transactions, soaring to about 3 million.

The rise in daily transactions to the coveted 3 million milestone marks the highest the network has seen this month. This comes weeks after the number of daily transactions on the network plummeted to about 1.07 million.

Consequently, the notable rise showcases how quickly Shibarium has spread and gained widespread recognition in the past few weeks. This appears to be a significant development. However, it is still below the highest level it recorded in December.

Shibarium has seen large increases in network activity before when its daily transactions reached a peak of around 7.5 million. After crossing the 7 million mark, it managed to maintain above this level for a month before dropping by almost 50% in January.

Data from the Shibarium tracker also shows that the network has reached a major milestone in its overall transactions. According to Shibariumscan, the total number of transactions recorded on the platform since its launch has surpassed 357 million.

It is worth noting that Shibarium’s performance goes beyond the network’s transactions. There have been over 3.27 million blocks processed on the blockchain, suggesting a crucial increase in demand for scalable features.

Furthermore, the overall number of interacting wallet addresses recorded in the network has now crossed 1.35 million. In addition, the network utilization is up by over 51%, indicating an increase in adoption.

Due to this sharp rise in Shibarium network activity, investors’ interest in Shiba Inu is expected to increase. Hence, it buttresses all other projects and crypto assets in the SHIB ecosystem.

Shiba Inu Team To Burn Top Shibarium Tokens

Lucie, Shiba Inu’s head of marketing, has revealed the team’s plan to burn SHIB and several other top Shibarium tokens. She took to the X platform to share the development with the SHIB community.

Lucie noted that funds made from the sale of the new NFT collection Shiboshis will be used to burn the tokens. These include Shiba Inu (SHIB), Bone ShibaSwap (BONE), LEASH, TREAT, and SHI.

Specifically, any Shiboshis that the holders fail to claim will be sent to Uniswap for sale. Then, the Shiba Inu team will use 10% of the total realized funds from those sales to burn the tokens. 4% of the funds will be set aside to burn BONE, LEASH, TREAT, and SHI, while 6% will be used to burn SHIB.

Shiba Inu

25th December 2023

Shiba Inu Burn Rate Soars By 5,000%, Here’s Why

The Shiba Inu burn initiative begins the week with a positive sentiment as the project has witnessed a significant increase in its token burn rate over the last 24 hours.

Shiba Inu Burn Rate Sees Notable Uptick

On Monday, December 25, over a 5,000% increase in the last 24 hours has been observed in the Shiba Inu burn rate. According to data from Shibburn – the platform that tracks SHIB token burns, the burn rate recorded a substantial 5,043% increase.

The tracker reveals that over 53.13 million SHIB tokens have been burn over the past 24 hours. The surge in burn rate was due to two substantial transactions that consisted of over 20,000,000 SHIB each.

Data from Shibburn shows that the address 0x6081258689a75d2…887239fe80 sent a total of 20,000,000 Shiba Inu tokens to the SHIB burn wallet. Meanwhile, the second transaction which was carried out by the same address saw about 25,000,000 SHIB sent to the burn wallet.

The Shiba Inu burn rate has been witnessing significant surges over the past few days. The rise in burn rate appears to have generated a wave of speculative excitement throughout the cryptocurrency market.

Despite the increase in burn rate, the Shiba Inu price is currently experiencing a bearish price action. The token is currently down by 1% in the last 24 hours, according to CoinMarketCap.

The recent rise in burn rate coincides with a massive whale transaction reported by on-chain tracker Whale Alert. The on-chain tracker revealed that the transaction saw a whopping 4.25 trillion SHIB being transferred to an unknown wallet.

Whale Alert reported that the wallet address identified as 0x3ce6bed2…87d896c59f sent the aforementioned SHIB to the unknown wallet address 0x9c570088…a22fd8b51b. Another aspect to identify is the low gas fee used to initiate this huge transaction, which was less than $3.

The Project’s Team Made Another Massive Burn

On Friday, December 22, a report revealed that the Shiba Inu team burned a massive 8.47 billion SHIB. Currently, the total number of SHIBs burned by the team has reached a whopping 33.8 billion SHIBs.

It is worth noting that the team had previously burned another 8 billion SHIB hours before on the same day.

Earlier that day, the team sent approximately 8,533,564,693 SHIB valued at $90,285 as of that time, to a dead wallet. The total number of SHIB tokens burned by the team that day was approximately 17 billion.

The most recent burn marks the fourth time this month alone that the crew has carried out a burn this size. The overall supply of SHIB is beginning to feel the weight of these systematic burns.

This has also been confirmed by Lucie, the marketing head and part of the project’s team, on X (formerly Twitter). The most recent burn was shared by Lucie in her post, highlighting that it was the fourth instance of the procedure.

Shiba Inu is currently trading at $0.000010, with its trading volume also declining by over 30% to approximately $184.65 million. Meanwhile, its market cap is also down by 1% to $6 billion as of the time of writing.

Shiba Inu

26th May 2023

Shiba Inu Whale Accumulates 261 Billion Shib Tokens In Just Three Days

A top SHIB whale added $1.18 million worth of Shiba Inu within 24 hours. Data from Etherscan.io reveals that this whale ranked as the nineteenth largest SHIB holder accumulating 140 Billion SHIB.

The whale acquired the SHIB tokens in two separate transactions marking its second massive accumulation within 72 hours.

SHIB Token Burns And Shibarium Launch Likely Behind Accumulation

Shiba Inu network and users engaged in massive SHIB burn events in 2023. The burning mechanism aims to reduce excess tokens and boost SHIB’s price. However, no notable price increase has occurred since the token burn events.

Nevertheless, the top SHIB whales are accumulating the tokens ahead of the Shibarium launch and a possible price increase for the asset.

BLAZE token has been identified as the largest SHIB burner in recent times on the ecosystem.

Shiba Inu Team Member Projects Timeline For Shibarium Launch

A member of Shiba Inu’s marketing team, LUCIE, shared her thoughts on the proposed mainnet launch of Shibarium in a Tweet.

Shibarium is a Layer-2 (L2) scaling solution created for the Shiba Inu ecosystem. Its launch date is highly speculative, with several dates proposed in the past.

However, LUCIE stated that she guessed the launch date would be in Q3 of 2023, while Shiba Inu founder Shytoshi Kusama projects in July.

The exact launch date remains a mystery and LUCIE believes the Shibarium Mainnet Launch will happen between the second and third quarters of 2023.

Additionally, she believes that Shiba’s team remains confident about the launch, with multiple teams working on it and exploring Artificial Intelligence (AI) integration.

LUCIE emphasized that the testing process is crucial and security audits are necessary before its launch. She explained further, that if tests go wrong, the Shibarium mainnet release will delay.

Shiba Inu Price Outlook

Despite the recent announcements concerning Shibarium’s launch, SHIB did not record much price fluctuation. It traded at $0.000009967 on May 1, 2023, before moving to $0.00001002 on May 2. However, by May 4, its price dropped to $0.000009896, losing some of its earlier gains.

SHIB dropped to $0.000008695 on May 11, showing price volatility. The bulls attempted to rally on May 23, pushing its price to $0.000008899.

However, SHIB met resistance returning to $0.000008519 on May 24 and is trading at $0.000008479 at press time today, depicting a 0.16% increase in 24 hours.

Despite the price gain, SHIB’s trading volume is down by 8%, a possible signal of traders’ hesitation in the market. But the launch of the Shibarium mainnet in the ecosystem may be the price catalyst SHIB needs to reclaim its gains as it may boost SHIB usage.

Shiba Inu Whale Accumulates 261 Billion Shib Tokens in Just Three Days

Featured image from Pixabay and chart from Tradingview.com