- Shiba Inu falls by 15.5% in a week, Shy Kusama addresses FUD on Discord.
- Shibarium gas fee token Bone ShibaSwap (BONE) gets an unexpected listing.
- On-chain signals unveil one bullish signal for SHIB; BONE remains bearish.
The popular Japanese guard dog-themed memecurrency Shiba Inu (SHIB) dropped to a yearly low of $0.00000591 last week after the U.S. Securities and Exchange Commission (SEC) dropped a double lawsuit on Binance and Coinbase, two leading crypto exchanges.
Since then, the crypto inked 2.1% in the latest 24-hour rebound effort but got hit by an Avalanche (AVAX), which now has a market capitalization of $4.05bn, compared to Shiba Inu’s drop slightly below $4bn.
On the other hand, Shibarium’s gas fee token Bone ShibaSwap (BONE) grew 3% amid the news of CoinSpot, a popular Australian crypto exchange, listing Shiba Inu’s $BONE on spot trading. At the same time, Shibarium’s ‘puppynet’ has hit 20 million transactions since launch, but the mainnet is what the SHIB Army is really looking forward to.
Shy Speaks Out, Sparks Shibarium Speculation
The mysterious leader of the Shiba Inu developer team Shytoshi Kusama stepped in to restore the peace on Discord and declared that “the next addition to our Ecosystem is slated for early July.” He revealed the team is ready to show “how we align with the best decentralized technologies/protocols and have a completely decentralized product.”
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Addressing the FUD against Shiba Inu’s developer team, the lead dev uttered, “For you Fudders: You Will Be Completely Rekt.” Previously giving musical hints, including Makaveli’s “Bomb First (My Second Reply),” Shytoshi dropped a bomb update regarding Shibarium and replied to havoc spread across social media platforms.
This comes just a few weeks after SHIB Token’s official Discord had to be paused by admins, while Shiba Inu’s fast food chain Welly’s 38 Ethereum (ETH), equivalent to $65,773.44, was mishandled by ex-members of the SHIB Defence Breed and sparked even more debate.
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On the same note, the Shiba Inu community broke the yearly record burn twice a month, the record now belonging to Blaze Token with 3.6 billion SHIB tokens set ablaze in a single transaction. However, that didn’t stop Shiba Inu from plunging by 24.6% monthly.
On the Flipside
- CoinSpot crypto exchange offers to buy $BONE for $1.059 Australian dollars.
- Bone ShibaSwap (BONE) isn’t available in USD or EUR.
Why This Matters
Shiba Inu is the second largest memecurrency with one of the most active online communities.
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