Shiba Inu (SHIB) Community To Launch Shiba Wings Restaurant In Australia

Kangaroo with a giant plate of chicken wings and Shiba Inu logo

The SHIB Army will have another Shiba Inu (SHIB) themed eatery in Gold Coast, Australia. The coastal city in Queensland is going to host Shiba Wings, a chicken restaurant with a crypto ATM installed on the premises. Australia’s first crypto diner has a logo of Shiba Inu with fiery wings, likely hinting at the SHIB burning mechanism.

Shiba Inu Sees Adoption Despite Adding A Zero

At press time, the popular Japanese guard dog themed memecoin SHIB is changing hands at $0.00000869, down by 4.20% in the last 24 hours. The crypto winter took a toll on the memecoin, with a 13.3% monthly deficit.

This has caused the canine currency to give way to Lido Staked Ether (stETH) for the 13th position in the crypto charts. Losing $200 million of its market capitalization over the last 24 hours, it now trades below the key resistance line of $0.000009 for the first time since 21st June, 2022.

In other related news, SHIB’s trading activity on Coinbase once again maintained 91% of buys. The bullish signal from Coinbase users coincided with around 5000 new SHIB wallets on Ethereum (ETH) network. According to WhaleStats, the total number of active wallets now is 1,279,882 with an average of 80,363,052,179 of SHIB held by the TOP 100 ETH whales.

On the Flipside

  • SHIB has lost the number one spot as the most held cryptocurrency by the TOP 100 ETH Whales.
  • Currently, the top holding is ETH, followed by the popular stablecoins Tether (USDT) and USD Coin (USDC).
  • Despite the plunging market price of SHIB, the memecurrency added over 50,000 new wallet addresses since last month.

Why You Should Care

The two-year-old memecurrency project has a wide and active community. SHIB and arch nemesis Dogecoin (DOGE) sparked several bull runs for the altcoins in the past two years.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

Author

Tadas Klimasevskis is an author & reporter, focusing on the latest tendencies of the crypto galaxy. Tadas spends his time digging deeper into specific areas like coins such as Shiba Inu (SHIB) & Dogecoin (DOGE), music NFTs, sports NFTs, digital art, and Pop culture in Web 3.0. Tadas strongly believes in crypto as disruptive innovation and keeps an eye out for new crypto hubs being developed around the globe. His vast experience in social media lets him quickly spot what’s going on in the mercurial world of crypto and deliver stories with unique spins. He has been active in blockchain and cryptocurrencies since 2019.