Shiba Inu (SHIB) Short-Term Holders Are Rapidly Selling Token, Here's Why

In a recent turn of events, Shiba Inu (SHIB) has seen a notable increase in the selling of tokens held by short-term holders. The age of tokens sold yesterday dropped to just one month, a stark contrast to the six-month average observed a few days ago.

Timeline of Shiba-inu

According to blockchain data, Shibarium's Puppynet beta testnet appears to have captivated the community behind the meme-inspired cryptocurrency Shiba Inu ($SHIB), registering over 550,000 wallet addresses and processing over 2.5 million transactions in just three weeks. At the time of writing, blockchain statistics indicated that approximately 2.

Data provided by puppyscan.shib.io shows that there has been a gigantic spike in wallet addresses connected to the Shibarium testnet called Puppynet. This almost 10x surge has taken place over the past day.

Shiba Inu's lead, Shytoshi Kusama, might be hinting at a game-changing move for the project. Kusama, who is known to often speak allegorically, says in a tweet that he is moving a few chess pieces.

Shibarium's Puppynet beta testnet has seemingly captivated the community behind the meme-inspired cryptocurrency Shiba Inu ($SHIB), registering over 550,000 wallet addresses and processing in excess of 2.5 million transactions within a mere three weeks since its inception, according to blockchain data. At the time of writing, blockchain data shows that around 2.

The Shiba Inu community continues its burn spree, with approximately 35 million SHIB burned in one day. According to the update from Shibburn, 25 million of the total burned tokens came from a single wallet.

NOWPayments, a leading payment provider for cryptocurrencies, has announced a major collaboration with Shibarium, a Layer 2 blockchain solution dedicated to the development and expansion of popular cryptocurrency Shiba Inu (SHIB). This move is set to accelerate the adoption of crypto payments and help strengthen the Shiba Inu ecosystem.

Shiba Inu has recently exhibited some perplexing behavior in its on-chain metrics. Despite experiencing a considerable price spike a few weeks ago, almost all of the on-chain metrics for SHIB are currently losing momentum.

Shiba inu, is now CoinMarketCap's 4th most renowned asset as news made round that its new Metaverse update is set to take place in 2023. However, shib has still been on a slow market day.

Shiba Inu (SHIB) opened up to a major price slip today in what appears to be unsustainable growth picked up earlier in the week. At the time of writing, the meme coin is trading at a price of $0.00001083, down by 2.72% over the past 24 hours and by more than 4.5% in the trailing seven-day period.

Shiba Inu ecosystem and PawZone, founded by JD, a well-known member of the Shiba Inu community, are reportedly set to collaborate with renowned American musician Scott Page on various undisclosed NFT-related projects. Shiba Inu is a decentralized cryptocurrency project inspired by the popular internet meme of the Shiba Inu dog breed.