Shibarium Hits 10M Blocks! Will SHIB’s Price Rebound from a 4.29% Drop?
Shibarium has already mined 9,995,183 blocks, leaving only 4,817 blocks before reaching its next big landmark. The network processes a block every 5.0 seconds, so this milestone should happen within days. The blockchain’s impressive transaction speed reflects its efficiency. So far, Shibarium has recorded 996,064,116 transactions from 173,056,716 addresses. It now processes 2.17 million daily transactions, a strong jump from February’s figures. These numbers demonstrate Shibarium’s rapid adoption and growing influence on Ethereum’s scalability. Can This Growth Impact SHIB’s Market Performance? As Shibarium approaches its milestone, investors and traders eagerly watch for price movements. Many believe that increased adoption could lead to stronger partnerships, greater token utility, and positive price action. However, the SHIB community remains split. Some expect a bullish surge, while others worry about ongoing market volatility affecting price stability. Despite the blockchain’s technological success, SHIB’s price continues to struggle. SHIB’s Price Drops 4.29% Despite Shibarium’s Success Although Shibarium’s growth impresses, SHIB’s price has not reflected the same optimism. As of now, SHIB trades at $0.00001261, marking a 4.29% decline in the past 24 hours. Several factors contribute to this price drop. First, crypto market volatility continues to affect asset prices, including SHIB. Second, trading volume has dropped 45.30%, now sitting at $199.2 million. Lastly, investor sentiment remains cautious, as traders wait for a stronger bullish catalyst before making significant moves. What Could Drive a SHIB Price Rebound? Shibarium reaching 10 million blocks is a major achievement, but will it be enough to boost SHIB’s price? The answer depends on several factors. New partnerships and integrations could increase token utility. More developer activity and dApp launches within the Shibarium ecosystem could boost demand. A general market recovery and positive sentiment could also support a price rebound. However, price movement ultimately depends on how investors react to these changes. Should Investors Buy the Dip? With SHIB down 4.29%, some traders view this as an opportunity to buy at a lower price before a potential rebound. Others prefer to wait and see how Shibarium’s milestone affects the broader market. Read Also: Shiba Inu (SHIB) Whale Inflows Crash 85% – Is a Major Drop Coming? One thing remains clear: Shibarium’s influence is growing rapidly, and its performance could play a key role in shaping SHIB’s future. Whether the milestone leads to a price surge or not, the blockchain continues to expand at an impressive rate.
Shibarium Unveils Burn Contract in Latest Blockchain Upgrade
Shibarium’s official X account, @ShibariumNet, recently announced a significant update for its layer-2 blockchain. The upgrade includes updates to Heimdall and Bor hardforks, along with a new contract dedicated to burning SHIB tokens. This enhancement makes Shibarium compatible with Ethereum’s Dencun hardfork, aligning it with the latest blockchain advancements. The team’s guidance documents recommend starting with the Heimdall update before proceeding to Bor. The upgraded Heimdall ensures seamless operations within the post-Dencun environment, boosting efficiency. Heimdall and Bor Updates Focus on Performance The Bor upgrade emphasizes better performance, enhanced security, and improved blockchain management. Notably, it introduces a new SHIB burn contract, designed to support future updates and improvements. The burn contract will go live at block 8,200,512. Related article: Shibarium TVL Surges to All-Time High of $8.57 Million Though the details remain scarce, the team promises the upgrade will significantly help reduce the SHIB token supply, potentially adding value for holders. The guidance also stresses the importance of node runners updating their nodes before downloading the hardfork versions. Massive SHIB Burns Increase Burn Rate In the past 24 hours, SHIB enthusiasts burned a staggering 2,022,950,833 SHIB tokens. A single transaction accounted for 2,020,624,700 of these tokens, driving the SHIB burn rate up by 3,162.56%. Related article: Shiba Inu Holders Eye Critical Levels with Trillions Incoming According to comments on the Shibburn tracker, the founder of SquidGrow, Shibtoshi, likely initiated this massive burn. Last week, he destroyed an additional 1,003,266,585 SHIB. Thanks to these efforts, the SHIB community successfully burned 3,162,301,655 tokens in November alone. The new burn contract and continuous burns could strengthen SHIB’s position by reducing its overall supply. As Shibarium aligns with Ethereum’s latest updates, holders may see increased value over time.
Shiba Inu Unveils Christmas Giveaway Plans
The Shiba Inu ecosystem team plans a special Christmas giveaway for its community. Lucie, the project’s marketing lead, revealed the news yesterday, confirming that the team has approved a budget for an “incredible Christmas giveaway.” Dubbed the “Amazing Christmas Bone December,” the event promises significant rewards for participants. Lucie hinted that prizes may include Bone ShibaSwap (BONE), Shibarium’s official gas token, or other related incentives. Although the giveaway hasn’t officially launched yet, the team encourages community members to stay updated. Key Accounts to Follow Lucie urged followers to track updates from Shiba Inu developers Shytoshi Kusama and Kaal Dhairya on X. She also recommended following two Shiba Inu-related projects: TREAT and Shibarium Updates. According to Lucie, staying connected is crucial as the event will be “HUGE.” Related article: Shiba Inu Price Plummets: Can It Regain Bullish Momentum? The announcement sparked excitement among community members. However, some questioned why BONE, rather than SHIB, is the focus of the giveaway. Neither Lucie nor other team members have addressed this yet. The decision may aim to boost BONE’s visibility and adoption during the festive season. BONE’s Market Performance Currently, BONE trades at $0.5378, reflecting a 1.99% daily decline. Despite this, BONE remains up 3.78% over the last seven days and has gained 35.67% over the past month. The planned giveaway could further enhance its market presence. Related article: Shiba Inu Price Rebounds: Will It Sustain Momentum? This Christmas giveaway follows similar initiatives from previous years. Last year’s “Shibarium Giveaway Party” featured collaborations with partners like Bad Idea AI and Welly. The event concluded with the distribution of ten branded blockchain wallets to participants. In addition to holiday giveaways, the team hosted several promotional events in 2024. These include a $2,000 contest for Shibarium users, an airdrop of 500,000 PHIL tokens for SHIB holders, and a raffle offering 300 Shibacals store credits. Shiba Inu’s Christmas event promises excitement and engagement for the community. With substantial rewards at stake, fans eagerly await further updates.
Shibarium TVL Surges to All-Time High of $8.57 Million
Shibarium, the layer-2 protocol tied to Shiba Inu (SHIB), recently experienced a surge in activity that led to significant milestones. The total value locked (TVL) on Shibarium hit an all-time high (ATH) of $8.57 million, as confirmed by Lucie, Shiba Inu’s marketing lead. This achievement reflects the growing adoption of the platform and increasing user confidence, as more funds flow into the ecosystem. Lucie expressed gratitude to the Shibarium community, acknowledging their support with a heartfelt message: “Thank you, SHIBARIUM FAM.” TVL Experiences a Decline Amid Market Crash Following the ATH, data from DeFiLlama shows a drop in Shibarium’s TVL, which now stands at $4.58 million. Analysts attribute this decline to a recent market flash crash, affecting the broader crypto market. Despite the dip, the community continues to stake funds across multiple projects, maintaining active engagement within the ecosystem. Related article: Shiba Inu Price Plummets: Can It Regain Bullish Momentum? Shiba Inu remains the largest contributor to Shibarium’s TVL, accounting for $3.06 million. Other projects like WoofSwap and ChewySwap trail behind with $875,270 and $497,016, respectively. Additional contributions come from platforms like MARSWAP, DogSwap, Mint Club V2, and PunkSwap, which collectively support Shibarium’s growth. User Engagement on the Rise The network has seen a sharp increase in active wallet addresses, nearing the 1.9 million milestone. This rise indicates greater user participation within the Shiba Inu ecosystem. Many of these new wallets have likely staked funds, contributing to the earlier record-breaking TVL. Related article: Shiba Inu Gains 3.5%: Is a Breakout Imminent? The drop in Shibarium’s TVL correlates with SHIB’s recent price decrease. Earlier in the month, Shibarium’s growth aligned with a rebound in SHIB’s value. However, SHIB has since fallen by 8.03% to $0.00002392, and trading volume has dropped 9.92% to $1.48 billion. This decline underscores the challenge of maintaining investor interest amid fluctuating market conditions.
