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Shiba Inu (SHIB) has become one of the most prominent meme-inspired cryptocurrencies since its launch in August 2020. The developers behind the decentralized token have worked to build an ecosystem of projects for the SHIB community. However, the recent launch of the layer-2 solution Shibarium failed to significantly boost prices amid the ongoing crypto bear market. With Thanksgiving 2023 approaching, here is how Shiba Inu performed on Thanksgiving 2022. What is Shiba Inu? A Brief History Shiba Inu is a decentralized cryptocurrency that spawned from a meme-inspired online community. The token’s mascot is a Shiba Inu dog, which led to the name. In mid-2020, an anonymous individual or group known as Ryoshi started working on Shiba Inu as an experimental decentralized community project. Ryoshi intended to take the meme coin concept behind Dogecoin and build an ecosystem around it. Also read: Ben Armstrong Sues Ex-Colleagues Over Alleged Stolen Lamborghini After laun...

The SHIB Dream NFT has burned nearly 550 million Shiba Inu tokens sending it to the dead wallet this month. Half a million SHIB tokens were removed from circulation on Shibarium in the last 14 days, data shows. This is the highest burns of the tokens in November and was initiated by the third-party SHIB Dream NFTs. Also Read: Shibarium Now Top Performing Network: Will It Push Shiba Inu To $0.01? The SHIB Dream NFTs run on the Shibarium layer-2 solution providing use-cases to users on the network. A representative from the Shiba Inu team applauded the burn initiative as the project is helping to burn SHIB tokens. A handful of third-party apps and projects are burning SHIB tokens regularly on the Shibarium L2 network this year. The move keeps Shibarium’s network active and brimming with developments making it collect transaction fees and also indulge in burn initiatives. #Shibarium Projects ♥️$SHIB BURNS https://t.co/Q9OXhl3QSX — 𝐋𝐔...

Shiba Inu investors have long held on to the “1 cent” dream. To reach $0.01 from current levels, SHIB would need to rally by a whopping 99900%. Moreover, the market cap for the project would reach an astronomical $5.90 trillion, as there are 589 quadrillion tokens. These figures seem very unlikely to come to fruition under current circumstances. However, if SHIB were to burn away the majority of its circulating supply, the goal would become a lot more achievable. According to CrowdWisdon, if 90% of SHIB’s supply is burned, the project’s market cap would be around $548 billion at 1 cent. This market cap is a lot more realistic. Also Read: Shiba Inu or Dogecoin: Which Token Can Make You a Millionaire First? If SHIB’s price were to increase at the rate of 25% each year, it would take the project 11 years to reach the “1 cent” target. According to the analysts at CrowdWisdom, Shiba Inu (SHIB) can reach a price of $0.01 by the year 2040. Ho...

In the current crypto economy, two of the most well-known meme coins are Dogecoin (DOGE) and Shiba Inu (SHIB). Currently, DOGE sits atop the throne of meme cryptocurrencies, with a market cap of $11,889,054,523. It has a current price of $0.08554, according to CoinMarketCap.  Source: Barron’s However, according to CNBC, SHIB may be set to overtake the top dog coin spot above DOGE in a year. Both coins have dominated the meme coin market over the last few years. Right now, both have some of the largest fan communities in the crypto world. But the fans behind SHIB seem to be growing at a much more rapid pace. This is especially since the summer of 2022. In turn, the value of Shiba Inu has grown as well.  Right now, however, Dogecoin still holds a significant lead of more than six billion dollars in market capitalization over SHIB. On the other hand, as CNBC Analysis suggests, due to Shiba Inu’s initiatives of “unique use cases,” that lead can shrink towards the end of this year en...

Shiba Inu was under the spotlight following the launch of the Shibarium public beta version. After a year of waiting by the SHIB army, the lead developer of the network, Shytoshi Kusama, finally announced the introduction of testnet PuppyNet earlier this week. Following this, the burn rate of the asset spiked. The streak persisted as nearly half a million SHIB were sent to a dead wallet. Shibburn has revealed that a total of 452,950,434 SHIB tokens have been burned since yesterday. This outcome was achieved in just three trades. Additionally, the burn rate of the network surged by 1322.79% over the last 24 hours. Source The Shiba Inu community anticipates that when Shibarium rolls out, the burn rate will increase significantly and that trillions of meme coins will be removed from circulation. Around half of the initial quadrillion supply has already been erased. The price of Shiba Inu, however, witnessed a slight drop over the last 24 hours. At press time, SHIB was tradi...

The entire globe has been awaiting the launch of Shibarium. As the wait is getting longer, the Shiba Inu ecosystem has been yearning to witness some positive upswing with regard to the price of SHIB. Amidst this, BONE, a token of the Shiba Inu ecosystem was seen thriving. But why is BONE pocketing more gains than Shiba Inu? Shibarium, the Layer-2 update that is on its way is expected to increasingly employ the BONE token. While SHIB will certainly have some role to play, BONE will take the lead. Therefore, BONE might pocket more gains than Shiba Inu this year. After a good start to 2023, most coins in the market were once again spiraling. BONE, however, managed to steer away from this notion each time the SHIB network made a Shibarium-related announcement. With the actual launch of Shibarium, BONE is expected to skyrocket. In addition to this, BONE has been getting listed on several platforms. This could also add to any potential surges. Can BONE reclaim $2 anytime soon?...

It has long been one of the industry’s greatest mysteries, and a fairly consistent topic among the SHIB Army. Now, there are those who believe they may have identified the creator of Shiba Inu, as some believe the enigmatic Shytoshi Kusama could be… Elon Musk ? Shiba Inu is a meme coin that sports one of the most passionate communities the digital asset industry has seen. Thus, their eagerness to uncover the illusive creator of the coin has been a topic of conversation. Conversely, a recent theory considers it could be the Dogefather himself, in what would be a mind-bending turn of events. Source: Twitter The Identity of Shytoshi Kusama Shytoshi Kusama is a well-known pseudonym for the creator of Shiba Inu. It is a name that has become forever linked to the meme coin and often acts as the spokesperson for the developments of the ecosystem, including the long-awaited arrival of Shibarium. Now, in an interesting turn of events, two Shiba Inu enthusiasts be...

The cryptocurrency markets entered the new year in high spirits. SHIB, along with the larger cryptocurrency market, experienced a much-needed relief. Bitcoin (BTC) made gains of nearly 40% in the first month of 2023. Shiba Inu (SHIB), on the other hand, made gains of up to 44% in January 2023. Shiba Inu (SHIB) launched its burn mechanism in April 2022. Since then, the platform has engaged in reducing SHIB’s circulating supply in an attempt to propel its price. In the first month of 2023, SHIB’s burn portal removed 1.12 billion tokens from circulation. At current market rates, the value of the burned SHIB tokens is only $13123.84. 🔥🔥🔥 1,124,579,958 $SHIB tokens have been burned in the month of January with 223 transactions. # shib # shib army — Shibburn (@shibburn) February 1, 2023 Furthermore, on Jan. 24, 2023, a record number of Shiba Inu (SHIB) tokens were burnt in a single transaction by an unidentified wallet. An astounding 10...

The popular dog-themed crypto project, Shiba Inu (SHIB), has one of the most active userbases in the industry. They collectively called the SHIB Army and push for further adoption of the crypto token. The group often finds creative new ways to advertise their favorite tokens, many times to score big listings. What’s worth pointing out is that the SHIB Army is successful in many aspects. The latest initiative by the Shiba Inu (SHIB) group is the launch of a VIP social network platform. The new venture is live and, in the last 24 hours, has gathered 350 members. Goodnight $SHIB Family. ❤️ The ShibArmy VIP Social Network is now live for 24 hours and we already have over 350 members! 👊 Have you joined yet? 🧐 pic.twitter.com/WhVnJW2Tbe — Shib Dream * Shiba Inu News * Shib Army Social 💎 (@theshibdream) December 27, 2022 Users of the SHIB social network can submit their articles and blog entries, play games, visit websites relevan...