The Shiba Inu (SHIB) community has been buzzing with excitement due to recent updates and statements from SHIB’s well-known marketing lead, Lucie. Her short yet impactful tweet captured the attention of the SHIB community as the Shibarium network continued to break new milestones, adding to SHIB’s growing momentum. So, what’s the latest in the SHIB ecosystem?
A Message of Motivation to the SHIB Community
Recently, Lucie shared an inspiring message with the Shiba Inu community, consisting of just four words. While the tweet didn’t refer directly to a Shibarium update or specific project, it conveyed a positive outlook for the ecosystem’s future, encouraging the SHIB community to remain patient and keep faith that the best is yet to come. This message may be connected to Lucie’s previous statement, posted last Friday, in which she emphasized that the SHIB ecosystem is still in its early stages of development.
Step by step
Patience
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) October 25, 2024
In her recent updates, Lucie pointed to Shibarium’s achievements over the past week, spotlighting the network’s dramatic increase in daily transactions, which surged from 127,588 to 4.77 million within days. Since its August launch, Shibarium has seen over 435,711,744 transactions, signaling a period of active growth for the SHIB ecosystem.
Rising Account Numbers on Shibarium
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Shibarium also saw a rise in account numbers, growing by approximately 34% from 127,588 on October 21 to 171,199 on October 25. Lucie noted that the Shibarium team and broader SHIB ecosystem are working tirelessly to drive this progress. She expressed, “Everyone, from Shibarium projects to the Core Team and Shibaswap, is working hard!” Additionally, SHIB burns aimed at reducing token supply to drive value appreciation have gained momentum, with Shibburn reporting a 114% increase in the SHIB burn rate in just one day.
This growth in burns was achieved through six transactions, erasing 9,071,593 SHIB meme coins. Among these, three significant transactions destroyed 4,527,734, 3,577,935, and 1,918,753 SHIB, helping transfer millions of SHIB to unspendable blockchain addresses. These burns, viewed as a positive development by the SHIB community, aim to create a more scarce supply and support upward price movement.
Market Impact and SHIB’s Price Activity
On Friday, Shiba Inu’s price faced a sudden 7.15% decline, dropping to $0.00001656, creating a noticeable red candle on hourly charts and pulling SHIB down by 3.56%. Following this dip, however, SHIB experienced a recovery of 2.2%, bringing the current price to $0.00001691. This rebound brings renewed optimism among SHIB investors.
As Shiba Inu gains momentum, The Bit Journal will continue to monitor these developments and the growing interest surrounding the SHIB ecosystem.
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