While the crypto seas may churn, the Shiba Inu ecosystem is not just surviving—it’s positively thriving, with a week of explosive activity that is lighting up the entire landscape! This Doggy Bytes edition unpacks the blazing SHIB burns, impressive Shibarium growth, and the well-deserved recognition that proves the future is indeed burning bright for the entire Shib Army.
Last Wednesday, 31 million SHIB tokens were sent to a burn address in a single day, which propelled the daily burn rate to an extraordinary rise of over 1,300%. Congratulations to the Shib Army on an incredible achievement!
Technical evaluations from crypto analysts recently highlighted critical price thresholds for SHIB. According to analyst BlueCrypto, SHIB has managed to hold support at $0.00001345 and can potentially reach a “MAIN level” of $0.00001590 if this support remains stable. Crypto Sheriff also believes a breakout could initiate a bullish trend, which makes SHIB “good for taking risks.” Of course, as we always say, remember to DYOR, Shib Army!
And speaking of trends, in a recent LunarCrush ranking shared by @Crypto_Dep, SHIB secured 4th place among the Top Meme Coins by Social Activity. With 1.50 million interactions and a 2% social dominance, SHIB narrowly follows $TRUMP while outranking other tokens like BONK and FLOKI.
The provided data offers a comprehensive overview of on-chain metrics for the layer-2 scalability solution Shibarium. The network boasts an impressive 947.744 million completed transactions, demonstrating substantial historical activity and usage.
A total of 26,407 smart contracts have been deployed, indicating a growing ecosystem of decentralized applications (dApps) built on the network. Crucially, the average block time is a relatively fast 8.253 seconds, meaning transactions are confirmed and added to the blockchain quickly, enhancing the user experience and making the network suitable for applications like gaming.
The network also shows a significant reach, with 109.865 million total addresses having interacted with it, although this number represents unique addresses, not necessarily individual users. Specific activity related to the Shiba Inu ecosystem is highlighted by the 2.045 million total BONE transfers, showcasing the movement of the ShibaSwap governance token.
In summary, these metrics paint a picture of an active and growing blockchain network, focused on scalability and supporting a burgeoning dApp ecosystem, with a clear connection to the Shiba Inu project through the activity of the $BONE token.
As of 10:00 p.m. ET on Tuesday, Shiba Inu Treat ($TREAT), represented by the ticker symbol $TREAT, was trading at $0.005717, up 2.36% in the last 24 hours. While this price point is relatively low, the more significant figure is the market capitalization of $5.28 million, indicating a smaller-cap project within the cryptocurrency landscape.
The most striking data point is the 24-hour trading volume, which stands at $7.66 million, a staggering 104.95% increase over the previous day. This volume exceeds the token’s market cap, suggesting a high degree of speculative trading and potential for significant price volatility.
Overall, the data paints a picture of $TREAT as a high-activity, relatively small-cap token with potential for significant price movements, driven by its integration within the evolving Shiba Inu ecosystem.
Shiba Inu ($SHIB), trading under the ticker symbol $SHIB, was trading at $0.00001306 per token, marking a 4.39% increase over the last 24 hours, as of 10:00 p.m. ET on Tuesday. This price point, while seemingly small, translates to a significant market capitalization of $7.69 billion, positioning $SHIB as a major player within the cryptocurrency market, particularly within the meme coin segment.
The 24-hour trading volume is $398.6 million, a 4.45% increase compared to the previous day. This indicates a healthy liquidity and active trading.
In summary, the data portrays $SHIB as a large-cap, relatively stable (within the context of meme coins) cryptocurrency with good liquidity and moderate short-term positive price momentum.
Bone ShibaSwap ($BONE), the governance token of ShibaSwap, is trading at $0.2510, showing a 5.77% price increase in the last 24 hours, as of 10:00 p.m. ET on Tuesday. Its market capitalization stands at $57.75 million, indicating a mid-sized project within the cryptocurrency space.
The 24-hour trading volume is $6.25 million, a 5.58% increase, representing a healthy level of activity relative to its market cap. The data suggests a moderately active, mid-cap token with positive short-term price momentum, playing a key role in the governance of the ShibaSwap decentralized exchange.
Doge Killer, operating under the ticker $LEASH, holds a unique position within the Shiba Inu ecosystem. Originally conceived as a rebase token pegged to the price of Dogecoin, it has since evolved, with its supply capped, transforming its role and market dynamics.
LEASH’s price as of 10:00 p.m. ET on Tuesday, is $144.97 per token, up by 2.17% in the past 24 hours. This price translates to a market capitalization of $15.42 million, placing it in the small-cap category within the cryptocurrency market.
The 24-hour trading volume stands at $1.84 million, a 3.12% increase. While the percentage increase is modest, the volume itself represents a substantial portion of the market cap (over 10%), indicating relatively high trading activity compared to its overall size.
In summary, $LEASH is characterized as a small-cap cryptocurrency with a relatively high price per token due to its scarcity.
This Wednesday marks a cheerful milestone for the Shib Army as the total number of SHIB tokens burned soared to an impressive 600,195,155 — a fantastic 13.48% increase from the previous week. Over 600M SHIB tokens have now been permanently removed from circulation!
Shib Torch, the platform developed by the Shiba Inu Core Team specifically for tracking and promoting the burning of SHIB tokens, a core element of the Shiba Inu ecosystem’s tokenomics, data reveals that a total of 600,195,155 SHIB tokens have been permanently removed from circulation through this burn mechanism.
The data, gathered as of 10 p.m. Tuesday, represents a substantial 13.48% increase in the total amount burned compared to the previous week. The purpose of burning tokens is to reduce the overall supply, creating deflationary pressure that could, in theory, increase the value of the remaining tokens over time, assuming demand remains constant or increases.
The significant weekly increase in burned SHIB suggests growing community participation in burn initiatives, potentially driven by various mechanisms within the ecosystem, such as a percentage of transaction fees on Shibarium or specific burn events.
A big shoutout to OSCAR for making the leap to Shibarium! With fresh DeFi avenues and an inspiring micro-donation platform, OSCAR is on a mission to drive real change in Shibarium and far beyond.
Shiboshi holders can now shine even brighter with more points in ranked tournaments in Shiba Eternity! Mark your calendars for Thursday’s play session!
