Shiba Inu (SHIB) Achieves Historic High

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Shiba Inu

The Shiba Inu-themed cryptocurrency has recently achieved a fresh milestone. Shiba Inu’s overall address count has been steadily increasing, thanks to the growing popularity of Shibarium. According to data provided by IntoTheBlockShiba Inu now boasts a total of 3.57 million addresses. Notably, there was an influx of 1,670 new addresses in the past day, indicating a continuous influx of users into the Shiba Inu ecosystem, primarily driven by the innovative Shibarium blockchain.

Furthermore, Shibarium’s native gas token, BONE, has also witnessed an upswing in its total addresses, reaching a new peak at 192,290, according to data sourced from IntoTheBlock. Shibarium, which serves as the Layer 2 blockchain for Shiba Inu, has enjoyed remarkable adoption since its launch, surpassing the milestone of one million total transactions and wallet addresses. As per the latest data from the Shibariumscan blockchain explorer, Shibarium now boasts 1,118,026 wallet addresses and a total of 1,173,231 transactions. Impressively, over the past 24 hours, more than 109,400 transactions were processed on this Layer 2 blockchain.

Undoubtedly, Shibarium has drawn the attention of fresh participants into the Shiba Inu ecosystem, boasting an impressive array of over 100 tokens. Among these tokens, Wrapped Bone (WBONE) emerged at the beginning of this week, introduced by Shiba Inu developer Kaal Dhairya. WBONE is a Shibarium-based token that represents BONE in a standardized format, ensuring compatibility with smart contracts and decentralized applications (dApps) operating on the Shibarium network. Additionally, there are hints of an impending collaboration with various third-party bridges, aimed at facilitating the seamless integration of numerous other tokens into Shibarium.

As previously reported, Shiba Inu‘s leader, Shytoshi Kusama, has taken notable steps, including renouncing the Bone contract and establishing the burn portal. Kusama has also suggested the development of a Shibarium wiki. At the time of writing, the SHIB token has experienced a 1.51% increase in value over the last 24 hours, trading at $0.0000076.

Shiba Inu Burn Soars: Whales Invest $100M

Shiba Inu’s (SHIB) rate of token burning has surged significantly, increasing by a staggering 721.17%, resulting in the destruction of 77.4 million SHIB tokens within the past day. This sharp increase in the rate of token burning coincides with large-scale acquisitions of SHIB by prominent investors, totaling $100 million in the past week.

Shiba Inu

WhaleAlert reported that one substantial investor transferred $38.05 million worth of tokens from an undisclosed wallet to another on August 31. On September 2, another whale moved $36.69 million worth of SHIB from the Bitvavo exchange to an undisclosed wallet. Then, on September 4, a whale shifted $35.69 million worth of Shiba Inu (SHIB) from Bitvavo to another undisclosed wallet. These substantial acquisitions, along with the subsequent surge in the token burn rate, may have contributed to a 2% increase in SHIB’s price over the last 24 hours.

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