Crypto: ShibaSwap arrives on Shibarium – Whales are accumulating massively.
Release: 2024/05/19 22:14 Reading: 616
The Shiba Inu is bouncing back after a few days of correction, leaving investors wanting more. Movements of SHIB whales and the launch of ShibaSwap, Shibarium's crypto exchange, seem to have contributed to this recovery. All eyes are on the symbolic mark of $0.000025 per piece, hoping for its imminent breakthrough.
Shiba Inu Takes Off with Shibarium: Towards New Heights?
Like Bitcoin (BTC), the Shiba Inu crypto undergoes painful but beneficial corrections. Driven by a ShibArmy community determined to dethrone Dogecoin (DOGE), this memecoin regularly surprises its fans with spectacular comebacks. Always quick to rekindle the hope of its followers, Shiba Inu has become a real phenomenon, even though it occasionally gives a few scares to its investors.
#ShibArmy the wait is finally over — ShibaSwap is coming home to Shibarium! ShibaSwap is more than just an exchange; it's where our community’s spirit meets innovation, where your community tokens not only exist but thrive pic.twitter.com/fVGEZjynIJ— Shib (@Shibtoken) May 15, 2024
«ShibArmy, the wait is finally over – ShibaSwap is coming to Shibarium! ShibaSwap is more than just an exchange; it’s where the spirit of our community meets innovation, where your community tokens not only exist but thrive.»
The excitement is palpable in the Shiba Inu ecosystem as the popular SHIB cryptocurrency sees its price increase by more than 8%, specifies Blockonomi. The reason for this surge? ShibaSwap, the decentralized exchange (DEX) associated with Shiba Inu, is migrating to Shibarium, the project's layer 2 scaling solution.
This transition marks a major turning point for Shiba Inu. With ShibaSwap now operational on Shibarium, new horizons are opening up for project developers. This migration promises to strengthen the already dynamic Shiba Inu community.
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One of the main advantages of this migration is its potential impact on the total transaction volume on the L2 platform. An increase in transaction volume could reduce the supply of SHIB crypto in circulation, which could support their value.
Moreover, the recent update of ShibaSwap brings a multitude of new features to the platform, including a new dashboard, an improved user experience, discovery charts for new and trending tokens, as well as a simplified onboarding process for new tokens on the DEX.
With the current price of Shiba Inu at $0.00002549, having surpassed the crucial resistance point of $0.000023, the cryptocurrency could soon reach $0.00003. This advance is supported by a confluence of fundamental factors, and the transition of ShibaSwap to Shibarium could play a decisive role in the future of the Shiba Inu cryptocurrency.
SHIBEUR chart by TradingView
Shiba Inu Sharks and Whales Feast
Since June 2023, Shiba Inu sharks holding between 100,000 and 1 million SHIB have started accumulating tokens, reports The Crypto Basic. Taking advantage of the significant drop of SHIB to $0.00000543, these addresses bought at a low price and continued to accumulate until the new year. With the price increase in late February, this trend intensified, with addresses accumulating 10.61 billion tokens since March 1, bringing their total to 115.31 billion SHIB.
On their side, whales holding at least 1 billion SHIB missed the opportunity to accumulate during the drop the previous year. However, at the end of February, with rising prices, these addresses began to accumulate, adding 4.25 trillion SHIB tokens to their portfolios since March 1.
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Together, these two cohorts of addresses have accumulated 4.356 trillion SHIB in just 11 weeks, demonstrating sustained confidence in Shiba Inu despite the slowdown, and confirming bullish forecasts for the cryptocurrency's price.
On-chain data provided by Santiment reveals this accumulation trend, demonstrating the unshakable faith of Shiba Inu investors in the future of the cryptocurrency. Shiba Inu sharks and whales are preparing to feast.
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