Shiba Inu (SHIB) Registers 50,000 New Wallets Despite SHIB Price Drop By DailyCoin

© Reuters Shiba Inu (SHIB) records 50,000 new wallets despite SHIB’s price drop

FTX’s infamous liquidity crunch continues to count the bodies as the total cryptocurrency market cap comes to just $814 billion, which is a 2% drop overnight. The popular memecoin (SHIB) should face the crypto music winter with a shrinking market capitalization of $4.68 billion, down 3.07% in the past 24 hours, according to LunarCrush.

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An FTX storm is taking place in the Shiba Inu

The FTX-saturated cryptocurrency earthquake broke SHIB’s spell, with a weekly deficit of 9.3%. At time of publication, the dog-themed memecurrency has changed hands at $0.00000825, according to Queen Gekko. The past 24 hours has been intense for SHIB, with 5% in red. The monthly charts look even worse, showing 17.6% in the red.

Despite the harsh conditions, whales (ETH) still favor 15th-ranked Mimcoin, and it has also reached an important milestone. The SHIB army continues to grow, with new ATH (all-time high) in total wallet holders. Currently, they are at 1,280,917, which indicates the growth of nearly 50,000 new wallets in the last two weeks.

Ship’s army prepares for the shipparium

As retail customers explore options apart from centralized crypto exchanges, SHIB developers are looking forward to developing a self-sustaining ecosystem using Shibarium, a Layer-2 upgrade. This includes all three tokens of the SHIB ecosystem, with Bone ShibaSwap (BONE) being used for gas charges.

Furthermore, the Shibarium upgrade powers the Web 3.0 project SHIB: The Metaverse, which will be presented at the Immerse Global Summit in Miami in two weeks. While no official release date for Shibarium has been announced, it has been confirmed that Shitoshi Kusama is working on it. The testing phase includes Shiba Eternity, the collectible card game that’s been in the spotlight on Google (NASDAQ:) Play and the App Store for a few weeks.

on the flip side

  • SHIB’s burn rate has decreased by 61.41% in the past 24 hours, according to SHIB.
  • The currently severe crypto market conditions may delay the launch of Shibarium.

Why should you bother

Shiba Inu (SHIB) has one of the most active crypto communities and is among the leaders in hash adoption.

Get the latest news about commemorative coins:

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