Shiba Inu Soars 11% As 'Shibacals' Project Aims To Connect Physical Objects With NFTs

Shiba Inu (CRYPTO: SHIB) surged 11% after the project's developer announced plans to introduce a new service that connects physical objects with non-fungible tokens (NFTs). Lead developer Shytoshi Kusama revealed details about the upcoming “Shibacals: Authenticated Collectibles” in a recent blog post.

Timeline of Shiba-inu

Key Points: Shiba Inu ecosystem are working on a new service that will link real-world assets to non-fungible tokens (NFTs) to establish ownership as part of their Shibarium ecosystem rollout.

Shiba Inu lead developer Shytoshi Kusama recently published a new blog post about the latest developments in the SHIB ecosystem. However, while the focus of Kusama's blog post was on Shibacals, there was a more hidden news: Shibarium's partnership with AI meme token project Bad Idea.AI.

Shiba Inu (SHIB), the meme-inspired cryptocurrency, has witnessed an unprecedented surge in its burn rate with staggering 7000% rise. This triggered a remarkable 10% increase in its market capitalization and its price over a day.

In a remarkable turn of events, netflows into the wallets belonging to the largest Shiba Inu token holders experienced a staggering surge, reaching a whopping 134.93 billion SHIB within a span of 24 hours on Tuesday. To put this into perspective, it equates to an astounding $1 million in value.

Crypto Rug Pull News: Crypto brokerage firm, Voyager Digital which filed for Chapter 11 bankruptcy back in 2022, is preparing to reopen partial withdrawal for its users. On-chain data tracker reports that the troubled crypto firm transferred tokens out from its hot wallet.

Trillions of Shiba Inu (SHIB) tokens have been shifted in recent hours by Bankrupt crypto lender Voyager. According to on-chain analytics firm Lookonchain, Voyager seems to be transferring tokens out of its hot wallet.

Shiba Inu (SHIB), the meme-token-turned-bona-fide-cryptocurrency, is currently on a crucial phase of its price journey. Having reached the 21-day Exponential Moving Average (EMA) level, SHIB has essentially hit its first major target.

Shiba Inu (SHIB) has recently experienced a significant breakthrough in its price movement. With a 10% rally, SHIB managed to surpass a crucial resistance point that had been hindering its upward momentum.

Shiba Inu (SHIB) has joined the ongoing market rally, having surged by 3.28% over the past 24 hours. With the second largest meme coin by market capitalization now changing hands at a spot price of $0.000007412, it has effectively pared off all forms of losses over the past week as it has gained more than 9% within that time span.

Shiba Inu Price Analysis: On June 10th, the Shiba Inu price witnessed a massive sell-off and reached a low of $0.00000543 to record a 30% loss. However, the buyers made a robust comeback from the $0.00000555 support and recovered half of the day's loss.