Thousands of Shiba Inu Holders Get Tempting Opportunity as SHIB Price Soars

The price of SHIB has experienced a remarkable 4% increase intraday and an impressive 8% surge over the past three days. This surge has transformed nearly 60,000 addresses of Shiba Inu holders from unprofitable to profitable, offering them a rare chance to exit their positions with substantial profits.

Timeline of Shiba-inu

Shiba Inu (CRYPTO: SHIB) burn rate on Friday spiked 1800% in the last 24 hours, after the Shibarium testnet crossed the 25 million total transactions mark as enthusiasm grows ahead of mainnet. What Happened: As per PuppyScan, the dedicated blockchain explorer for Shiba Inu, at the time of this writing, the total number of transactions on the Shibarium beta testnet has surpassed 25 million, currently standing at 25,505,315.

After a few days of staying deep below zero in the red, the SHIB burn rate has finally demonstrated a substantial rise, according to the data shared by the Shibburn explorer. The price of the second-largest meme coin has also shown a mild increase overnight.

Unusual activity has been observed in the recent movements of a wallet associated with bankrupt North American cryptocurrency broker Voyager. In a surprising turn of events, a staggering 25 billion Shiba Inu (SHIB) tokens, with a current value of approximately $183,275, were transferred from the wallet.

Shiba Inu Layer 2 Shibarium's beta has smashed two big milestones at once. The Shibarium testnet has achieved an impressive round number in its total transactions and wallet addresses.

According to ITB's "In/Out of the Money" indicator, Shiba Inu currently confronts a resistance formed by 300 trillion SHIB tokens, predominantly held by addresses that acquired them within the price range of $0.000008 to $0.000014.

Although the current behavior of the cryptocurrency market is not dramatically optimistic, including that of one of the best-known meme cryptocurrencies, Shiba Inu (SHIB), the projections based on machine learning algorithms and important technological innovations and trends for the next couple of years are.

In an official announcement made on June 28, Japan's major financial services conglomerate, SBI Group, announced that they will “start handling Shiba Inu (SHIB), Dai (DAI), and Cosmos (ATOM)” on its cryptocurrency platform SBI VC Trade.

In a surprising turn of events, the price of the Shiba Inu token has taken a U-turn, showing a remarkable rebound after experiencing a substantial drop of nearly 5% just yesterday. Today, the token's value has already exhibited a modest, yet noteworthy, 1.5% growth.

Shibarium, the highly anticipated layer 2 solution by Shiba Inu, is facing significant delays, leaving investors in a state of uncertainty. Despite initial expectations for a launch between the second and third quarter of 2023, the exact release date remains unknown.

More recently, Shiba Inu (CRYPTO: SHIB) has seen a rise on the back of a project that aims to connect physical objects with non fungible tokens (NFTs), but a while ago the coin enjoyed buzz surrounding the launch of its metaverse. In early March, Shiba Inu team said that its metaverse has arrived at its annual event SXSW.