Even when the broader crypto seas feel stormy, the Shiba Inu ecosystem continues to shine with beacons of good news and uplifting progress. Welcome to Doggy Bytes, your weekly dose of optimism, where we are spotlighting the positive momentum, exciting updates, and community triumphs that keep the Shib Army spirit vibrant and strong!
Despite the bloodbath that’s been going on in the markets these last few weeks, we’d like to look at the silver lining—the moments of triumph that remind us why we love this community. Take Shiba Inu (SHIB) for example: The Shib Daily reported on Friday that SHIB was recently positioned against a pivotal resistance wall, which a crypto analyst believes could catalyze a breakout. CryptoWizard101 has projected an initial target of $0.000015, with the potential for a staggering 67% surge up to $0.00002 if the bullish momentum continues to build.
BONE also recently surged an astonishing 150%! Its 24-hour trading volume at the time reached nearly $11 million. The BONE derivatives market mirrored this enthusiasm too. Trading volumes for BONE futures and other derivatives reached over $315,000 in just one day!
Shib.io’s latest update takes the SHIB experience to the next level. The new “Quick Access” feature is designed to allow users to navigate the platform with ease. With fewer clicks to access key functions on the platform, it’s definitely easier now to find what you need. It provides direct links to essential actions—like swapping and bridging tokens, buying BONE or SHIB in USD, building on Shibarium, purchasing Shib names, and more. Explore the new and improved Shib.io today!
Shibarium continues to demonstrate steady growth, as indicated by the latest data reflecting increased activity on the platform.
On Monday, the completed transactions increased by approximately 7.5%, from 971.336 million in our last report to 1.044 billion. The number of total addresses created currently stands at 197.27 million, while the total contracts experienced a small increase from 27.711 thousand to 27.989 thousand.
Meanwhile, the number of total BONE transfers has edged up from 2.091 million in our last report to 2.121 million. This reflects a modest increase of around 1.4%.
As for the total accounts created, there are currently 249.946 thousand, representing a 0.5% increase compared to our last report.
The Shib community has witnessed a remarkable uptick in token burns, with a total of 850,149,892 SHIB incinerated as of Monday, reflecting a 3.80% rise from last week.
This increase is largely attributed to the efforts made possible through ShibTorch, a dedicated platform that enables community members to burn their tokens effectively.
By harnessing the power of the community burn portal, SHIB holders are not only contributing to the reduction of the token’s supply but also promoting a sense of unity and purpose within the Shib ecosystem.
Shibarium builders, it’s your time to shine! If you’ve been developing awesomesauce products on Shibarium, you’re invited to sign up here and join the Telegram group for devs!
SHIB claimed the second spot on Crypto Insights’ ‘Most Mentioned Highlight #Memecoins last 24h’ chart on Friday, ahead of $NOT, $FLOKI, and other altcoins!
BONE was spotted in the latest ‘Top Layer 2 Projects by Social Activity’ chart from PHOENIX. So if your exchange isn’t listing this powerhouse token yet, you’re definitely missing out—but it’s not too late!
