shiba inu news: In recent developments, the Shiba Inu community has been buzzing with excitement as massive volumes of SHIB, the native coin of the Shiba Inu ecosystem, were spotted in a significant transfer. According to the vigilant eyes at Whale Alert, a whopping 4,642,530,677,374 SHIB coins, valued at approximately $38,057,145 USD, were shifted from an unknown wallet to another enigmatic destination. This intriguing movement coincided with a noteworthy blog post by none other than Shytoshi Kusama, the enigmatic developer behind Shiba Inu.
In his latest post, Kusama delivered reassuring news, stating that Shiba Inu had reached a state of readiness and security that left the community feeling relieved. This proclamation came on the heels of the official launch of Shibarium, an ambitious project aimed at propelling Shiba Inu from its meme coin origins to a blockchain network with real-world applications. However, the road to Shibarium’s launch was not without its fair share of challenges.
One of the major hurdles was the technical glitches that marred the bridge day, causing around $1.79 million worth of Ethereum to become temporarily entangled. In this time of crisis, Kusama extended his gratitude to the Polygon team for their unwavering support. He revealed that when he reached out to them for assistance, the Polygon team responded without hesitation, providing the additional resources necessary to ensure a flawless resolution to the situation. It was this steadfast support that reaffirmed the community’s confidence in their decision to pivot and fork onto the Polygon network.
As Shiba Inu fans enthusiastically anticipate further updates and improvements, the new whirlwind of action in the SHIB coin’s development and Kusama’s consoling words leave us with a feeling of confidence for the fate of this captivating task. The progress from image coin to a flexible blockchain network has all the earmarks of picking up speed, and Shiba Inu’s process is one that keeps on catching the creative mind of the crypto world. Remain tuned for additional reports on this advancing story.
When it comes to blockchain networks, Shibarium is making waves with its recent performance. The Shibarium Explorer paints an intriguing picture: boasting 73,650 daily transactions and nearly 900,000 active addresses, this network is certainly no stranger to activity. In fact, it reached an all-time high on August 25th, recording a staggering 130,000 transactions in a single day. Surprisingly, despite this bustling activity, the network utilization stands at just 33 percent. Currently, the total value locked (TVL) on Shibarium stands at $1.23 million.
Now, some might argue that this TVL pales in comparison to the colossal $37 billion present in the wider DeFi ecosystem, as reported by DeFiLama. However, this seemingly modest figure reveals something crucial: Shibarium is still in its infancy, with boundless room for growth. Among the nine prominent protocols hosted on Shibarium—including DogSwap, Marswap, WoofSwap, Woof Finance, Shibex, LeetSwap, ShibFi, ChocoInu, and BoneDex—DogSwap reigns supreme, commanding a TVL of over $687,000.
What Lies Ahead for SHIB?
Intriguingly, the story doesn’t end there. The world of SHIB tokens is expanding rapidly, with perpetual listings being continuously added to various exchanges. A noteworthy example is BitMEX, a popular exchange, which made a groundbreaking announcement on August 29th. BitMEX is set to launch two perpetual listings, featuring none other than SHIB. Traders can now engage with SHIB in two exciting pairs: SHIB/USD and SHIB/USDT, with the added thrill of trading at leverage levels of up to 33x.
The journey of Shibarium is one worth watching closely. With its impressive transaction numbers, a burgeoning ecosystem of protocols, and the exciting addition of SHIB to major exchanges, it’s safe to say that Shibarium has an eventful path ahead, full of promise and potential.”
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