Shiba Inu (SHIB) has been added as a collateral currency for futures trading on the Kraken exchange, marking a significant step for the memecoin. The move coincides with a surge in SHIB’s burn rate, reflecting increased activity and potentially positive sentiment.
Shiba Inu’s Layer-2 network, Shibarium, celebrated its first anniversary with a significant jump in the burn rate of SHIB tokens. The network has processed over 418 million transactions since its launch, leading to a direct correlation between SHIB’s deflationary momentum and Shibarium’s activity.
Shytoshi Kusama, the lead developer of Shiba Inu, has confirmed that they will not reveal their identity. While the community has been eager to learn more about the figure behind the popular memecoin, Kusama emphasizes that the project’s success stems from collective effort, not individual identities. This decision mirrors the anonymity of Bitcoin’s creator, Satoshi Nakamoto, further fueling the mystique surrounding the cryptocurrency space.
This week in crypto, the Winklevoss twins criticized Kamala Harris for her absence at crypto roundtables. Shiba Inu saw a drop in its burn rate, while Scaramucci advocated for bipartisan regulation. Meanwhile, Chuck Schumer assured Mark Cuban of sensible crypto legislation. We explore these developments and their potential impact on the crypto world.
Shiba Inu’s burn rate has significantly decreased, raising concerns about near-term price gains. However, the Shib community launched ShibHub, a new app aiming to showcase the Shiba ecosystem. Technical indicators remain mixed, with some suggesting potential bullish momentum while others point towards bearish sentiment.
Kabuso, the Shiba Inu who became the face of the popular ‘Doge’ meme, has passed away at the age of 17. Her owner, Atsuko Sato, announced the sad news in a blog post, stating that Kabuso passed away peacefully ‘as if asleep’ while being caressed. A farewell party for Kabuso will be held in Nara City, Japan, on Sunday, May 26th, from 1 pm to 4 pm.
Shiba Inu (SHIB), often referred to as the “Dogecoin Killer,” has experienced a significant 26% weekly surge, fueled by notable whale activity. A large transaction involving 237.87 billion SHIB by an anonymous whale address suggests either an over-the-counter purchase or a redistribution of cryptocurrency holdings. This activity coincides with the announcement of a $12 million investment for the development of Shiba Inu’s new Layer 3 network, prioritizing security and privacy. Additionally, the burning of 411.9 million SHIB coins within the past week contributes to the positive sentiment surrounding the meme coin.
Shiba Inu (SHIB) has successfully raised $12 million in funding to develop a new privacy blockchain. The funds were acquired through the sale of TREAT tokens, which will be utilized in the blockchain’s operations. This latest initiative marks the final non-stable token for SHIB and will incorporate Fully Homomorphic Encryption (FHE), enhancing security for crypto traders. Despite a modest increase of 0.47%, SHIB’s trading volume has decreased by 28.7% over the past 24 hours. Additional noteworthy crypto news includes market insights following the Bitcoin halving and potential millionaire-making Metaverse cryptos.
