Shiba Inu ShibArmy Rallies Community Amidst 30% SHIB Price Drop and Shibaswap Delay

Shib Army acknowledges the current crypto market frustration and the bearish month of September, emphasizing the importance of crediting the Shibarium project and the #SHIBARMY community for their support and unity, encouraging positivity and resilience.

Timeline of Shiba-inu

In a recent Telegram update, Shiba Inu's lead developer, Shytoshi Kusama, recently announced the completion of key components, including Wrapped Bone (WBONE), a token that makes BONE compatible with smart contracts and decentralized applications on the Shibarium network.

Shiba Inu burn rate is in the green, seeing a 500% increase from the previous day as several millions of SHIB are sent to the fiery furnace.The week that just concluded saw over half a billion SHIB burned, with millions of SHIB also sent to dead wallets in the last 24 hours.

Crypto watchdog Whale Alert has detected some unusual activity in the last 24 hours involving significant movements of popular cryptocurrencies, with a particular focus on XRP and Shiba Inu (SHIB).

In a stunning turn of events, the Shiba Inu token (SHIB) ecosystem has been shaken to its core as an unprecedented surge in substantial on-chain transactions has taken center stage. IntoTheBlock, a renowned blockchain data provider, unveiled the astonishing news of a jaw-dropping 335% surge in large transactions valued at $100,000 or more.

The total number of wallets interacting with Shiba Inu's layer2 network, Shibarium, crossed the 1 million mark earlier today, less than a week after the mainnet bridge began functioning optimally.

Shiba Inu (SHIB) is expected to play a significant role in the success of the layer-2 network Shibarium and the proposed decentralized Shiba Inu State. With this in mind, Shiba Inu's marketing lead, Lucie, shared a quote from the recently published ShibPaper highlighting the token's importance in the ecosystem and the roles holders will play.

When trying to access the new website that shows how things stand on Shibarium with transactions, blocks, etc, one finds now a blank screen and “default backend – 404” error definition in the top left corner of the screen.

After overcoming initial setbacks, Shibarium, an Ethereum (ETH) layer-2 (L2) network backed by Shiba Inu (SHIB) tokens, has experienced a remarkable surge in metrics. With over 820,000 new wallet addresses and more than 90,000 daily transactions, Shibarium has demonstrated its appeal to users seeking faster, cheaper, and more private off-chain transactions while leveraging the security of the underlying Ethereum blockchain.

The Shiba Inu army has made significant progress in monthly SHIB burns recently – in the month of August they managed to burn twice as much SHIB as they did in July. Thus, billions of SHIB were removed from circulation, according to a recent tweet.

Shiba Inu (SHIB) has been a true roller coaster of emotions for holders recently. The meme coin has recently fallen below a critical symmetrical triangle pattern, a technical indicator that often signals a significant price move.