New data from market intelligence platform IntoTheBlock reveals that over 80% of traders who have invested in a handful of memecoins are currently underwater. According to the crypto analytics firm, just 11% and 10% of traders who hold Dogecoin (DOGE) competitors Shiba Inu (SHIB) and Floki (FLOKI) are in the green while only 14% and […]
The post More Than 80% of the Holders of Shiba Inu and These Three Dogecoin Competitors Are Now Underwater: IntoTheBlock appeared first on The Daily Hodl.
Shibarium network activity has soared despite the price of SHIB falling more than 20% since the tumultuous launch of the layer-2 network.
The total number of wallets on Shiba Inu’s newly launched layer-2 blockchain, the Shibarium network, has surpassed the one million mark in a meteoric rise since its relaunch.
The milestone — announced in a Sept. 3 blog post by the official Shibarium team — means there were at least 900,000 wallets added since Shibarium’s relaunch on Aug. 28, and only two weeks after the Shibarium network first went live — albeit with some technical hiccups.
According to data from the Shibarium blockchain explorer, nearly 100,000 transactions have occurred as of 5:04am UTC Sept. 3, with a peak activity of 132,000 transactions being set on Aug. 25.
While network activity has surged, the total value locked (TVL) on the Shibarium network has yet to surge in response. At the time of publication Shibarium’s TVL stands at just $1.06 million, suggesting that users are only deploying very small amounts of capital on the network.
In their blog post, Shibarium developers noted that they are currently collaborating with a number of third-party bridges to assist investors with bridging other tokens over to the new blockchain.
Additionally, the team announced plans to renounce the contract for its governance token Bone (BONE) and added that they are looking to add more validators to the network in the coming weeks.
As of Sept. 1, Shibarium users have been able to utilize Shiba Inu (SHIB), Bone (BONE), Leash (LEASH) and many of the other tokens available on the Shibarium network to lend, borrow and stake tokens to earn rewards.
While many Many Shiba Inu holders had hoped for a sharp uptick in the price of the various Shiba Inu ecosystem tokens following the launch of Shibarium, the overall price action for SHIB, BONE and LEASH tokens hasn't seen the expected uplift.
Related: Shibarium wallets surpass 100K after SHIB devs relaunch bridge
Though it witnessed some moderate gains in the leadup to the launch of Shibarium, the price of SHIB has since fallen a touch over 20% since the botched launch on Aug. 16, according to data from CoinGecko.
The respective values of the remaining Shiba Inu ecosystem tokens have not fared much better. The price of BONE has fallen 15% over the past 14 days while LEASH has dropped 14.2% within the same timeframe.
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The lead developer of popular memecoin Shiba Inu (SHIB) is teasing a roadmap of the Dogecoin (DOGE) rival’s future. In a new lengthy blog post, pseudonymous developer Shytoshi Kusama is proposing an update to SHIB that would complete the vision the protocol’s anonymous creator, Ryoshi, had for the dog-themed meme asset. “How can SHIB create […]
The post Shiba Inu (SHIB) Developer Teases New Plans for the Dogecoin (DOGE) Rival in Blog Post appeared first on The Daily Hodl.
Pseudonymous Shiba Inu (SHIB) developer Shytoshi Kusama is dropping a big update on the progress of the highly anticipated layer-2 project Shibarium. In a new Twitter bio update, Shytoshi Kusama reveals that ShibaSwap is the only official decentralized exchange (DEX) for the Shiba Inu and Shibarium ecosystem. “Top Shib community member. Not financial advice, do […]
The post Lead Shiba Inu Developer Springs Big Update on Much-Awaited Evolution of Crypto Project Shibarium appeared first on The Daily Hodl.
The hype over Shiba Inu’s layer-2 blockchain Shibarium has obscured another big development in the works for the Dogecoin competitor – the coming launch of two new ecosystem tokens. Lead developer Shytoshi Kusama says one incoming addition to Shiba Inu’s ecosystem is a rewards-based token called Treat (TREAT). The team decided to build Treat after […]
The post New Shiba Inu (SHIB) Altcoins Quietly Gearing Up for Launch – Here Are the Under-the-Radar Crypto Projects Coming This Year appeared first on The Daily Hodl.
More than 410 trillion Shiba Inu (SHIB) tokens have been permanently burnt from the asset’s supply, according to the burn tracker Shibburn. Millions of SHIB tokens are burning nearly every day as Shiba Inu’s highly-anticipated layer-2 network Shibarium prepares to launch in beta mode next week. The official Twitter account for Bone ShibaSwap (BONE) published […]
The post 410,385,130,202,095 Shiba Inu (SHIB) Burned From Supply Forever Ahead of Imminent Shibarium Release appeared first on The Daily Hodl.
Shiba Inu’s highly-anticipated layer-2 network Shibarium will launch in beta mode next week, according to a key player in the memecoin’s ecosystem. The official Twitter account for Bone ShibaSwap (BONE) just posted a viral tweet confirming the launch date. The most #important topics for everyone!1. It has been confirmed that #Shibarium Beta will be released next […]
The post Confirmed: Shiba Inu’s Highly Anticipated Shibarium Set for Initial Launch Next Week appeared first on The Daily Hodl.
A pair of Shiba Inu-related altcoins are soaring as developers prepare to launch a highly-anticipated layer-2 network called Shibarium. The new network is designed to be similar to Polygon (MATIC), offering developers a fast and scalable platform to build on while giving traders access to new projects and custom tokens with low transaction fees. As […]
The post Shiba Inu Altcoins Explode As Crypto Project Hints at Release Date for Ethereum Scaling Platform appeared first on The Daily Hodl.
The biggest players in the crypto arena are stocking up on a popular meme coin after its latest project milestone. The transaction-tracking bot at WhaleStats reveals major in-flows of capital into Shiba Inu (SHIB) after its new metaverse feature launched on Wednesday. Over the past 24 hours, Ethereum (ETH) whale wallets bought an average of […]
The post Ethereum Whales Pounce on Dogecoin Competitor Shiba Inu As Project Announces Massive Metaverse Expansion appeared first on The Daily Hodl.
The cryptocurrency shiba inu has managed to capture the 18th position in terms of crypto market valuations. The token has gained 230% during the last seven days and year-to-date, SHIB has gained a whopping 24,177,682%. SHIB’s Value Swells After Whale Buys $43 Million Worth of Tokens The popular meme-based crypto-asset shiba inu (SHIB) has seen […]
