Shiba Inu Takes Telegram by Storm with 32,455 New Weekly Members

Shiba Army is well cultivated, with thousands of enthusiasts joining daily. But is it enough to form a bull pennant?

Shiba Inu dog with a Shiba Inu pendant on all fours as 7 Telegram app icons float around.
  • The vast community of Shiba Inu is waiting for the Shibarium upgrade.
  • Shytoshi Kusama set up a Shibarium-dedicated Telegram channel.
  • SHIB dropped by 8% in the last 24 hours despite the bullish news.

The popularity of Shiba Inu (SHIB) memecurrency reached new heights this week, as the popular canine coin’s community recorded three times faster social growth than other crypto projects in the TOP 10.

To illustrate, SHIB picked up 32,455 new members on Telegram, significantly more than the runner-up MEXC (MX), which onboarded 11,768 new Telegram members. This comes just a couple of weeks after Shytoshi Kusama carried out the developer purge within the community.

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On that note, Shytoshi also set up a new Telegram channel called “All Things Shibarium Shy/ Official” for all things Shibarium, which has already surpassed 20,000 members. However, there are a couple of trendy unofficial Telegram groups for Shibarium, which also have tens of thousands of members.

Shibarium Unleashed on Valentine’s Day?

The recent fiery squabble in the doghouse overshadows the community’s high hopes regarding Shibarium’s launch. Besides, the Layer-2 solution for SHIB has been in development for nearly two years. Meanwhile, the main developer Shytoshi Kusama was lately reported to be ‘in the situation room’ and putting the final touches on Shibarium’s documents.

As the wait continues, Shiba Inu manages to sustain its fundamental resistance line at $0.00001 but lost 8% of its value in the last 24 hours, likely to be affected by the SEC’s crackdown on the Kraken crypto exchange.

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The #15 ranked Japanese Kabosu guard dog-themed cryptocurrency is changing hands at $0.00001235, according to CoinGecko. Ultimately, the next few weeks will be crucial for the future of the two-year project, as the devs are working hard to present new features for the fastest-growing community in crypto.

On the Flipside

  • Bone ShibaSwap (BONE), the other altcoin in the ecosystem, Shibarium’s only gas fee token, has plunged by 15.8% in the last 24 hours.
  • The February 14th, 2023, launch date for Shibarium is not confirmed by the official SHIB Token team, despite Shytoshi dropping hints.
  • Today, Shiba Inu (SHIB) had to grudgingly step away from the #13 position by global market cap, giving way to Polkadot (DOT).

Why You Should Care

Shiba Inu (SHIB) is an ERC-20 token on the Ethereum (ETH) blockchain, currently transitioning into a self-sufficient ecosystem through Shibarium, the Layer-2 scaling solution.

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.