Shiba Inu (SHIB) Developer Team Releases Site Upgrade, SHIB Falls 7%

During Shytoshi Kusama’s design applauds, one Ethereum Whale takes a lump of Shiba Inu tokens to the depot.

Shiba Inu (SHIB) Developer Team Releases Site Upgrade, SHIB Dumps 7%

The countdown on the official website for the super popular canine memecoin Shiba Inu (SHIB) ended with a brand new version of the website. As the Shiba Inu (SHIB) Ecosystem declares on the site, it now consists of three altcoins, Shiba Inu (SHIB), Bone ShibaSwap (BONE) and Doge Killer (LEASH). Out of the three, Doge Killer (LEASH) is the lowest-ranked and the most expensive one. At press time, LEASH trades at $302.92, according to CoinGecko.

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Meanwhile, SHIB Ecosystem’s main token, Japanese guard dog-themed memecoin Shiba Inu (SHIB) is changing hands at $0.00000838, also deducting around 7% of its market value like DogeKiller (LEASH) in the last 24 hours. Besides, the sharp drop happened after one Ethereum (ETH) whale deposited the mountainous amount of 200,000,000,000 SHIB tokens to a Crypto.Com account.

The 4th Element of the Shiba Inu Ecosystem

On the other hand, Bone ShibaSwap (BONE) was the most intensively battered by the bears of crypto winter with a 9% deficit in the last 24 hours. However, Bone ShibaSwap (BONE) had a solid month with 16.6% in the green in the last 30 days and now is ranked just outside the top 100 by market capitalization at #141. At press time, Bone ShibaSwap (BONE) is priced at $0.807531, according to CoinGecko. On top of that, Shiba Inu (SHIB) Ecosystem presented the 4th token $TREAT.

Shytoshi Kusama Speaks Out on Shibarium

By the same token, it comes as no surprise that many members of the SHIB Army were expecting something in relation to Shibarium. The Layer-2 upgrade is rumored to be in Beta Phase, while some crypto enthusiasts thought the documentation for Shibarium would be presented. Instead, the background shares a glimpse of the forthcoming SHIB: The Metaverse, of which the WAGMI Temple’s insides were revealed a couple of weeks ago.

In addition to the heated discussions on Shibarium on Twitter, the mysterious leader of the Shiba Inu (SHIB) developer team stepped in to offer his apology to the SHIB Army, as some expectations haven’t been met yet. Hence, the mega popular canine cryptocurrency Shiba Inu (SHIB) slid to #16, giving way to Tron (TRX) & OKB (OKB).

On the Flipside

  • Treat, the aforementioned 4th token in the SHIB Ecosystem, is yet to be launched. The dev team also didn’t give any updates on the SB Visa Card, which would have an automatic SHIB Burn function.
  • The Shiba Army didn’t react to the countdown results well, as the SHIB Burn rate slowed down by 46.04%, with numerous double-digit transactions two days ago.

Why You Should Care

The popularity of memecoins brings a large chunk of retail investors into the crypto space.

Explore the world of top dog memecoins:

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

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.