The live Shiba Inu price today is $0.000011 USD with a 24-hour trading volume of $645,503,991 USD.Get detailed Shiba Inu cryptocurrency price news, analysis and more on BitcoinLFG.
SHIB is the main token of Shiba Ecosystem, bringing the power of a decentralized, community-led currency to millions across the globe.
SHIB HAS SURGED BY 10% ON THE WEEKLY CHART
The price of Shiba Inu has surged by 12% in the last 7 days. This price increase has been provoked by the recent surge of Dogecoin, the biggest meme cryptocurrency in terms of market capitalization. Yesterday, Twitter owner Elon Musk suddenly changed the Twitter logo from the famous blue bird to Dogecoin avatar.
Moreover over the past 24 hours, the total amount of meme coins removed from the circulating supply totals 15,139,646 SHIB in only four transactions. Over the past week, nearly 280 million meme coins have been sent to dead-end wallets to be locked there without any chance of withdrawal or spending.
Shibarium’s beta release marks a significant development for the Shiba Inu community and the broader crypto market. With quicker and cheaper transactions, staking rewards, and a DEX supporting SHIB and other ERC-20 tokens, Shibarium has the potential to transform the Layer 2 solutions landscape.
The Shibarium potential is enormous as it is expected to revolutionize the Shiba Inu ecosystem and the crypto space.The Shibarium project will help Shiba Inu evolve into more than a memecoin.Users can access Shibarium’s test tokens through private test network portals.
RELATED READING : Shiba Inu | Huge Amount Of SHIB Moved Between Wallets
The SHIB army expects the release of Shibarium to push the price of SHIB up as tons of Shiba Inu tokens will be burned for every transaction.One of the goals of the hotly anticipated Shibarium Layer 2 solution is to burn trillions of tokens.As more users transfer, pay or utilize Shiba Inu in any way, more tokens are sent to the burn address.
What is Shiba Inu?
Shiba Inu is a cryptocurrency that was created in 2020 by a mysterious person who calls themselves Ryoshi. The name ‘Shiba Inu’ was stolen from the fluffy dog that was the subject of many memes at the time.The coin started as a joke it was meant as a kind of parody of Dogecoin, which was rising fast in both price and popularity despite having little use in the real world. In fact, Shiba Inu called itself a “Dogecoin killer.”
Shiba Inu runs on the Ethereum blockchain, and while each token or coin is worth just a fraction of a cent, the price went wild in 2021 turning a few early investors into millionaires.While prices have gone back down from whence they came, it still remains one of the most popular cryptos.The Shiba Inu development team is currently busy working on two major projects: SHIB Metaverse and the much-awaited Layer 2 protocol, Shibarium.
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