Tag: Shib

SHIB Inu Upcoming Developments Revealed: Shibaswap 2.0, Shibahub, Bone, TREAT, Metaverse

by Blockchain News

Lucie, a core member of the SHIB Inu (SHIB) team, took to Twitter today to provide an overview of the forthcoming developments for the SHIB Inu ecosystem. The tweet has already garnered significant attention with over 4,000 views in a short span.

Lucie listed the following advancements on the horizon for SHIB Inu: Bone contract renouncing, Shibaswap 2.0, $TREAT, Shibahub, Metaverse.

However, in a move to manage expectations, Lucie emphasized that these developments are “steps in our development journey” and cautioned that they won’t materialize overnight. The core member also clarified that the team’s focus is on the technology and its evolution, rather than market-driven price surges. “No price pumping involved,” Lucie stated.

In subsequent tweets, Lucie highlighted the importance of community cohesion and positivity. “If we don’t come together and spread positive vibes, progress will be slow,” she noted. Addressing the broader crypto community, Lucie also commented on the counterproductive nature of spreading false information and the significance of being part of a constructive community.

Lucie’s remarks come at a time when the crypto market is rife with speculation and rapid price movements. Her emphasis on technology over market hype serves as a reminder of the foundational goals of many blockchain projects.

While the exact timeline for these developments remains unspecified with Lucie noting, “When? When it’s ready!”, the SHIB Inu community and investors will undoubtedly be watching closely for further updates.

About Bone 

BONE is set to play a pivotal role in the SHIB Inu ecosystem, especially the Shibarium ecosystem, SHIB’s Layer 2 blockchain. In the lead-up to this launch, there will be a minting of the remaining BONE supply, followed by the renouncement of the BONE contract, ensuring no further minting can occur. This action is crucial for initiating the blockchain, as a significant chunk of BONE is reserved for its first role: VALIDATORS. Furthermore, BONE will act as a passport in the system, being the token that DELEGATORS bury for rewards, serving as the GAS TOKEN FOR SHIBARIUM, and playing a role in technology GOVERNANCE within the new framework.

About $TREAT

Ryoshi’s Shiba Inu vision is built on the synergy of core tokens: SHIB, LEASH, BONE, SHI, and the integral $TREAT. While not new, $TREAT’s role is paramount. It fortifies the $SHI Stablecoin’s liquidity and is slated to replace $BONE as ShibSwap’s primary reward. Additionally, $TREAT is earmarked for rewards within the Metaverse and the blockchain version of the Shiba Collectible Card Game. Collectively, these tokens, with $TREAT at the helm, weave the multifaceted tapestry of the Shiba Inu ecosystem.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Shiba Inu SHIB Founder Ryoshi NFT Collectible Debut on HEEL and SHIBACALS

by Blockchain News

A mystery but significant NFT brand has recently emerged in the Web3 landscape. HEEL and SHIBACALS have unveiled a limited edition collectible titled ‘Young Ryoshi in Space’. This collaboration between the two prominent entities is set to introduce only 45 of these exclusive pieces to the market.

The NFT collectible symbolizes the enigmatic founder of Shiba Inu, Ryoshi. Often referred to as the “Dogecoin killer,” the Shiba Inu cryptocurrency reached unprecedented highs in October 2021, boasting a market cap close to $40 billion. Shiba Inu commands one of the largest fan bases in the crypto realm. Recently, Blockchain.News reported an exploration into the identities behind Ryoshi.

The ‘Young Ryoshi in Space’ collectible is limited to just 45 pieces, emphasizing its exclusivity within the blockchain community. Interested parties should mark September 9, 2023, at 20:00 UTC on their calendars. The sale is anticipated to see a rapid uptake given the limited quantity. Priced at 0.1 ETH, the collectible offers an affordable entry point for both seasoned crypto enthusiasts and newcomers to the NFT space.

The collectibles are initially available as NFT passes, which may unlock exclusive content and experiences for their holders in the future. While the cost of the collectible covers the item itself, shipping charges are separate. Deliveries are expected to begin in mid-to-late October. In a move to add more value to the purchase, SHIBACALS will award five random collectible holders with 500 HEEL tokens each.

To preserve the uniqueness of the sale, ‘Young Ryoshi in Space’ collectible passes will not be available for resale. Prospective buyers are advised to use the official sale link on OpenSea when the sale goes live to ensure the security of their crypto assets. Each ‘Young Ryoshi in Space’ Collectible Pass will contain unlockable content, which will provide further details, including shipping information. Winners of the HEEL special minting event held last week will receive a collectible pass, granting them exclusive access to the ‘Young Ryoshi in Space’ sale.

This collaboration between HEEL and SHIBACALS, combined with the intrigue surrounding Shiba Inu’s founder, underscores the growing interest and innovation within the NFT and blockchain space. As the market continues to evolve, such limited edition offerings and influential figures highlight the potential for unique digital assets to capture the imagination of collectors and investors alike.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Shiba Inu Lucie Addresses Key Questions Around SHIB and Rug Pull

by Blockchain News

In a series of tweets today, Lucie of Shibarium, a prominent figure within the Shiba Inu community, addressed various concerns and provided clarifications about the project’s direction. The tweets, which garnered significant attention, emphasized the project’s commitment to transparency and its dedication to building a sustainable ecosystem.

Lucie highlighted several resources for the community to refer to for accurate information:

* The upcoming update to the Shibarium Technical Documentation.

* The official Shib blog.

* The abridged version of The Shib Paper.

Lucie highlighted the active development of Decentralized Autonomous Organizations (DAOs) in the ecosystem. When these DAOs become functional, they will empower community members to suggest and cast votes on different issues, bolstering the project’s decentralized nature.

Reiterating the project’s commitment, Lucie stated,

We are committed to transparency, and no information is being hidden.

She also emphasized the importance of understanding the project’s plan in its entirety.

Addressing the topic of token burns, Lucie acknowledged that while the burns might appear minimal, they have been executed. The overarching goal, she noted, is to

onboard millions of people who will create games, use the metaverse, and engage with other DApps with MINIMUM cost.

Lucie also cautioned the community against misinformation and urged them to be wary of individuals with malicious intentions. Referring to past incidents, she mentioned certain YouTubers who spread negativity about Shibarium and later engaged in deceptive practices like executing rug pulls.

Recently, Shiba Inu faced numerous questions from fans due to the plunge in SHIB’s price. As reported by Blockchain.News, Shiba Inu‘s cryptocurrency, SHIB, saw a 36% price drop after an initial surge during the “Summer of Shibarium.” The summer campaign, announced on July 15, promised significant updates, including the launch of Shibarium, a Layer 2 blockchain solution. After the announcement, SHIB’s price rose by 50%, but it soon declined, correlating with a 13% drop in Bitcoin’s value. On SHIB’s peak day, its 24-hour trading volume on Binance increased by over 100%. As Bitcoin traditionally underperforms in September, SHIB’s future remains uncertain. The summer’s events highlight the need for investor caution and strategic selling decisions.

In a concluding tweet, Lucie responded to critics who had previously claimed that Shibarium did not exist. She emphasized the active use of Shibarium and the project’s plans for its extensive utilization in the future, hinting at initiatives like Shiba Eternity, Shib the Metaverse, and Shibahub.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Shiba Inu SHIB Dream NFT Collection Debuts on PawZaar

by Blockchain News

Following the introduction of the Shibarium MainNet, the Shiba Inu community is gearing up to unveil PawZaar, an innovative NFT marketplace tailored to meet the evolving demands of the crypto community. The platform’s inaugural offering, the “Shib Dream NFT collection,” is a testament to the harmonious blend of art and the community’s core values.

According to the Shiba Inu Community (Shib Dream) official blog, PawZaar’s foundation on the Shibarium MainNet is strategic. It’s not just about leveraging advanced blockchain technology; it’s about creating an ecosystem where NFTs aren’t just digital assets but symbols of a community’s ethos and aspirations. The Shib Dream collection stands as a beacon of this philosophy, emphasizing a unique fusion of artistry, innovation, and community-driven values.

Diving deeper into the collection‘s features, there’s a clear emphasis on community engagement. A designated portion of the company’s quarterly profits is set aside for select NFT holders, creating a financial incentive that goes beyond the traditional appreciation of digital assets. Additionally, once all 3333 NFTs are minted, a select group of holders will be rewarded with digital currencies, namely $SHIB, $BONE, and $LEASH. This not only elevates the value proposition of owning these NFTs but also strengthens the bond between the project and its stakeholders.

Collaboration is another cornerstone of the Shib Dream collection. It extends its support to other promising projects in the Shiba ecosystem. Token giveaways from notable entities, such as @nfalabs and @pawzoneofficial, are part of this collaborative initiative, fostering a sense of unity and mutual growth within the ecosystem.

Philanthropy is woven into the fabric of the Shib Dream collection. Allocations from the project’s profits are earmarked for noble causes:

* 5% is dedicated to @StJude, championing children’s healthcare.

* Another 5% supports @WCKitchen’s mission to combat global hunger.

* 2% is channeled towards @LADS_STFT, advocating for reforestation in the Pacific Northwest.

Sustainability is a key focus. A segment of the initial sales, coupled with creator fees, will be directed towards the Shib token burn, ensuring the project’s long-term viability.

Beyond its immediate offerings, the Shib Dream NFTs are gateways to a broader vision: the “Shib Dream City” within “Shib The Metaverse.” This initiative promises unique digital experiences, ranging from interactive social spaces to potential virtual real estate opportunities.

In wrapping up, the Shib Dream NFT collection is not just another project in the vast sea of NFTs. It’s a reflection of a community’s aspirations, a blend of art, technology, and shared values, setting the stage for the future of community-driven blockchain initiatives.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Will Shiba Inu SHIB reach $1 by 2030?

by Blockchain News

Founded under the pseudonym “Ryoshi” in August 2020, the SHIBA INU token, or SHIB, has quickly morphed into a crypto sensation. An Ethereum-based token, it champions the decentralization narrative, rallying a broad global audience to its fold. By September 17, 2021, Coinbase, a prominent U.S. crypto exchange, had added Shiba Inu to its listing, which consequently pumped its value by 40% within 48 hours.

However, a pivotal query has arisen: Can this meme-inspired token touch the $1 mark by 2030?

Shiba Inu’s Evolution: A Quick Recap

Created by an anonymous individual, Ryoshi, the SHIBA INU token rode the wave of popular endorsements from the likes of Elon Musk and Vitalik Buterin. While many speculated Buterin’s role in its inception, he cleared the air on the Lex Fridman podcast aired on June 5, 2021. The ShibaSwap, the token’s dedicated decentralized exchange, has played a vital role in its growth.

In October 2021, murmurs about a potential Robinhood listing pushed SHIB’s price, even temporarily overtaking Dogecoin in market capitalization. Though a listing on Robinhood remains elusive, Christine Brown of Robinhood acknowledged the Shiba Inu community’s spirited efforts.

Another noteworthy chapter in SHIB’s journey was when Vitalik Buterin burned a significant chunk of his SHIB share, which he had received from Ryoshi. This act, coupled with his charitable donations using the token, carved a distinctive narrative for SHIBA INU in the crypto landscape.

What Sets SHIBA INU Apart?

The SHIBA INU ecosystem isn’t just about its primary token. It’s also fostering an “artistic Shiba movement” in the NFT sector. The objective, according to the platform, is twofold: establishing a decentralized organization sans central leadership and introducing SHI, an algorithmic stablecoin pegged at one cent.

In December 2021, the American electronics vendor, Newegg, ushered SHIB into its payment methods, highlighting the growing merchant adoption of the token. Moreover, efforts like the SHIB burn party by Bigger Entertainment last Christmas signals an active community trying to manipulate the token’s supply and, potentially, its price.

The SHIB Supply Dynamic

The SHIBA INU platform locked 50% of its token supply on Uniswap, and the rest was “gifted” to Buterin, who later burned 40% of the total tokens. The platform also features other tokens like LEASH and BONE, each with its unique attributes and utilities.

On May 10, 2021, SHIB reached its ATH of 0.00005. A contributing factor was when Buterin, in an unforeseen move, donated a significant amount of his tokens for COVID relief in India.

Looking Ahead: Can SHIB Reach $1 by 2030?

Forecasting if SHIB could attain a value of $1 by 2030 necessitates an examination of myriad factors. This includes its current circulating supply, scheduled and potential burn events, overarching market conditions, and the evolution and expansion of its ecosystem.

Current Numbers Breakdown:

Total burnt from initial supply: 410,658,540,184,213

Max Total Supply: 999,983,856,519,899

Current Total Supply: 589,341,459,815,786

Circulating Supply: 579,724,727,441,499

Putting it into Perspective:

Currently, there’s a whopping 600 trillion SHIB coins in circulation. To understand the scale of this, consider that the entire US stock market cap stands at approximately $46 trillion.

For SHIB to reach $1, its total market cap would need to hit $600 trillion, which is over ten times the combined valuation of all U.S. stocks. This scenario, on its face, seems implausible.

Although Shiba Inu is ramping up its token burn strategy to reduce the circulating supply, the numbers still present challenges. Even if an ambitious 99% of the current circulating supply were to be burned, SHIB’s market cap would hover around $6 trillion. This would be double the market cap of tech giant Apple, currently the world’s most valuable company.

In conclusion, while the Shiba Inu community is passionate and the token continues to gain traction, reaching a $1 valuation by 2030 would require unprecedented market shifts.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Shiba Inu SHIB Price Plummets Over 30% in Summer of Shibarium, Here is Why

by Blockchain News

Despite a promising start to the much-anticipated “Summer of Shibarium,” Shiba Inu’s native cryptocurrency, SHIB, has experienced a dramatic 36% price drop. This article explores the rollercoaster ride of SHIB’s price, the technological advancements in the Shiba Inu ecosystem, and the market factors contributing to this decline.

What Was the Summer of Shibarium?

On July 15, Shiba Inu’s official Twitter account, @Shibtoken, heralded the arrival of the “Summer of Shibarium.” The announcement promised a series of exciting updates and urged the community to brace for “a splash of thrilling releases.” The summer was expected to be a pivotal season for Shiba Inu, featuring the launch of Shibarium, a Layer 2 blockchain solution.

Initial Market Response

Following the “Summer of Shibarium” announcement, SHIB’s price surged to $0.00000853. Although it experienced a slight correction to $0.00000756 two days later, the token soon embarked on an upward trajectory, peaking at $0.00001136 on August 12, a 50% increase.

Technological Advancements

The Shiba Inu project has been busy with numerous updates, the most noteworthy being the development of Shibarium. This Layer 2 solution aims to enhance the Shiba Inu ecosystem, which already includes a decentralized exchange (ShibaSwap) and multiple tokens (SHIB, LEASH, BONE). Shibarium is seen as a crucial step in fulfilling the project’s decentralized vision.

The Downfall: Tied to Bitcoin?

However, the euphoria was short-lived. As Bitcoin’s price dropped by 13% on August 17, SHIB followed suit, plummeting by 12% on the same day. The token’s price fell to $0.00000725, even lower than its lowest point during the “Summer of Shibarium,” marking a 36% decline.

shiba inu.JPG

Source: Binance

Market Indicators

On the day SHIB reached its peak, Blockchain.News reported that trading volumes and open interest showed unusual activity. SHIB’s 24-hour trading volume on Binance skyrocketed over 100% to $1.32 billion, ranking third behind Bitcoin and Ethereum. In the meantime, open interest in Shiba Inu surged by over 33% to $101.65 million.

What’s Next?

With SHIB currently consolidating at a price of $0.00000765 and given that historical data suggests Bitcoin often underperforms in September, the future outlook for SHIB remains uncertain. Investors should closely monitor the upward trending support line for potential price movements.

Lessons and Future Outlook

As autumn sets in, the key takeaway from this summer’s events is to be prepared for the next “Summer of Shibarium” but to exercise caution and consider selling before potential price drops.

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Shiba Inu’s Shibarium Hits 600k Wallets and 700k Transactions

by Blockchain News

Shiba Inu’s Layer 2 network, Shibarium, has reached new milestones, boasting 634,438 wallet addresses and 698,607 transactions, according to updated data from Shibariumscan. This comes after Shiba Inu’s lead developer, Shytoshi Kusama, confirmed the full operational status of Shibarium’s mainnet and cross-chain bridges on August 28, 2023.

Updated Metrics

Average block time: 5.1 seconds

Total transactions: 698,607

Total blocks: 400,115

Wallet addresses: 634,438

Overcoming Initial Hurdles

Shibarium, initially a Polygon fork, faced technical challenges due to a surge in user activity. Collaborations with teams like Alchemy led to a 1500% scaling of operations, overcoming the initial hurdles.

Mainnet and Cross-Chain Functionality

Shytoshi Kusama stated that the mainnet and cross-chain bridges are “functioning smoothly.” Asset withdrawals, including ETH, Shib, Leash, and WEth, now occur within 45 minutes to 3 hours, although Bone token withdrawals may take up to 7 days.

User Adoption and Market Trends

The Layer 2 network aims to alleviate Ethereum’s congestion and high fees. The updated data indicates a rapidly growing user base, aligning with the rising trend of Layer 2 solutions in the crypto space.

Implications for Shiba Inu

The milestones could attract more developers to Shibarium, enhancing its utility and value proposition, and moving Shiba Inu beyond its meme coin status.

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ShIB and LPT Lead the Surge of Meme Coins as Bitcoin Stagnates at $29,400

by Blockchain News

In the recent cryptocurrency market trends, ShIB and PEPE have emerged as leaders in the meme coin pump, while Bitcoin has remained stagnant at $29,400 for three consecutive days.

Trading Volume on Binance Futures

On Binance Futures, the trading volumes of LPT (Livepeer) and 1000SHIB have reached $2.25 billion and $975.24 million respectively. These figures have surpassed Ethereum, ranking second and third, falling just behind Bitcoin. Other notable tokens like BLZ, APE, 1000PEPE, SOL, RUNE, and HIGH rank 6th to 10th, followed by DOGE and XRP.

Top Gainers in the Last 24 Hours

BLZ, LPT, and RUNE have been the top 3 gainers, with 36%, 19%, and 16% gains respectively over the last 24 hours. LPT is the native token of Livepeer, a decentralized live video streaming network protocol based on blockchain technology. BLZ represents Bluzelle, a censorship-resistant decentralized storage network, and RUNE is the native token of THORChain, a decentralized cross-chain liquidity protocol based on the Cosmos software development kit.

Open Interest Trends

1000SHIB’s open interest has seen a decrease of -9.16% over the last 24 hours, standing at $100.37 million.

Conversely, LPT’s open interest has surged to $975.24 million, marking a 43.58% increase. Both Top Trader Long/Short Ratio (Accounts) and Long/Short Ratio are on the rise, indicating that the pump has attracted more traders to short positions. The amount of liquidated short is around $300.

Indicators for LPT Price Trend Reversal

Several indicators are crucial for LPT’s price trend reversal, including:

1. Market makers and manipulators taking profits.

2. Short traders stopping loss or being liquidated in large numbers compared to the open interest scale.

3. A plunge in Bitcoin’s price.

As of now, there are no signs of these indicators, leading to the speculation that market makers and manipulators may choose to continue pumping for more profits.

Conclusion

The recent surge in meme coins, led by ShIB and LPT, has caught the attention of traders and market analysts. With Bitcoin’s price remaining static, the focus has shifted to these alternative cryptocurrencies.

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Bitcoin (BTC) $ 27,358.33 0.77%
Ethereum (ETH) $ 1,641.12 1.66%
Litecoin (LTC) $ 64.32 3.11%
Bitcoin Cash (BCH) $ 227.42 8.56%