TL;DR
Daily transactions on Shibarium have skyrocketed by nearly 2,000%! 🚀 Is SHIB finally getting its act together?
With a massive token burn and dwindling exchange balances, we might just be on the brink of a SHIB explosion! 💥
What May Fuel a Pump?
So, Shiba Inu (SHIB) has been on a bit of a rollercoaster lately, with its price taking a nosedive of over 20% in the last month. 🎢 But hold onto your wallets, folks! There are signs that this little pup might just hit the gas for a bull run. 🐶💨
One of the reasons for this sudden interest is the comeback of Shibarium, the layer-2 scaling solution that’s like the cool kid in school. 📈 After a month of crickets, daily transactions have exploded to almost 1.5 million on March 13. That’s a 2,000% increase! Talk about a glow-up! ✨
Shibarium is designed to help the Shiba Inu ecosystem thrive, and some industry insiders are whispering that its success could send SHIB’s price soaring. 🚀
Last week, the ever-optimistic analyst Davinci Jeremie suggested that SHIB could go “to the moon.” But, spoiler alert: it all depends on how well the protocol progresses. 🌙
“I like Shiba Inu, as you know, and I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it’s a chain that you can actually run all kinds of applications.”
“However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved, Shiba Inu will go to the moon,” Davinci stated. 🚀
Next up on the bullish bingo card is Shiba Inu’s burn rate. In the last 24 hours, the team and community have obliterated over 500 million tokens, which is a staggering 27,700% daily spike! 🔥 The goal? To reduce the massive circulating supply of SHIB and make it more valuable—if demand doesn’t take a vacation, that is. 💸
Shiba Inu’s exchange netflow is also hinting at a potential price pump in the short term. According to CryptoQuant’s data, the numbers have been mostly negative this past week, suggesting that investors are opting for self-custody. This means less selling pressure—yay for us! 🎉
Underwater SHIB Holders Pile Up
As we mentioned, Shiba Inu’s value has been on a downward spiral lately, leaving many investors feeling like they’re swimming with the fishes. 🐟 According to IntoTheBlock’s data, over 62% of those holding this meme coin are currently sitting on paper losses. Ouch! 😬 Only 33% are in the green, while a brave 5% are just breaking even.
But don’t panic just yet! This situation is a far cry from the horror show we saw in September 2023, when nearly 90% of SHIB holders were underwater. So, there’s that! 🏊♂️
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2025-03-14 20:53