{"id":1568,"date":"2024-05-14T20:45:44","date_gmt":"2024-05-14T20:45:44","guid":{"rendered":"https:\/\/cryptd.in\/important-shiba-inu-metric-explodes-by-2300-as-the-shib-price-rises-details\/"},"modified":"2024-05-14T20:45:44","modified_gmt":"2024-05-14T20:45:44","slug":"important-shiba-inu-metric-explodes-by-2300-as-the-shib-price-rises-details","status":"publish","type":"post","link":"https:\/\/cryptd.in\/id\/important-shiba-inu-metric-explodes-by-2300-as-the-shib-price-rises-details\/","title":{"rendered":"Important Shiba Inu Metric Explodes by 2,300% as the SHIB Price Rises: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Shiba Inu experienced a significant increase in transaction volume and price, supported by improvements in its blockchain technology and increased token burns.
\nSHIB\u2019s adoption as a payment method by CoinGate further enhances its utility and exposure in the cryptocurrency market.<\/p>\n

<\/a><\/span><\/h2>\n

This SHIB Indicator Took off<\/h2>\n

The second-biggest meme coin in terms of total market capitalization \u2013 Shiba Inu \u2013 made the headlines today (May 14) thanks to the rise of one\u00a0<\/span>major<\/span>\u00a0metric related to its ecosystem.\u00a0<\/span><\/p>\n

According to IntoTheBlock data, SHIB aggregated daily volume, where each transaction exceeded $100,000, has\u00a0<\/span>reached<\/span><\/a>\u00a0$223 million.\u00a0<\/span>This<\/span>\u00a0represents a staggering 2,300% increase compared to the figure observed the day before.\u00a0<\/span>Daily active addresses and transaction volume have also headed north<\/span>, albeit\u00a0<\/span>not as<\/span>\u00a0substantially<\/span>.<\/span><\/p>\n

The rise of the\u00a0<\/span>aforementioned metrics<\/span>\u00a0coincides with a SHIB price rally. The asset is among the best performers in the market today, registering a 7% increase on a 24-hour scale.\u00a0<\/span>Some of its rivals in the meme coin niche<\/span>, though,<\/span>\u00a0have witnessed even more significant gains.<\/span>\u00a0<\/span>Such examples<\/span>\u00a0are PEPE (23%), POPCAT (27%), TRUMP (22%), FLOKI (12%), and more.<\/span><\/p>\n

The Contributing Factors<\/span><\/h2>\n

Some\u00a0<\/span>of the<\/span>\u00a0elements that may have fueled the latest SHIB price resurgence include the surging burn rate and the further development of the layer-2 scaling solution Shibarium.<\/span><\/p>\n

The team behind the meme coin destroyed over 200 million tokens in the past seven days. <\/span>The rate\u00a0<\/span>is<\/span>\u00a0over 100% in the past 24 hours,\u00a0<\/span>resulting<\/span><\/a> in an additional 30 million assets sent to a null address.\u00a0<\/span>The mechanism\u2019s ultimate mission is to reduce SHIB\u2019s circulating supply, making it scarcer and possibly more valuable in time.<\/span><\/p>\n

For its part, Shibarium\u00a0<\/span>underwent<\/span><\/a>\u00a0two\u00a0<\/span>major<\/span>\u00a0upgrades. The goal was to improve user experience and enable compatibility with popular wallets, including MetaMask, Coinbase Wallet, and Trust Wallet.\u00a0<\/span><\/p>\n

Last but not least<\/span>, SHIB has recently become the subject of increased adoption. As\u00a0<\/span>CryptoPotato<\/span><\/em>\u00a0<\/span>reported<\/span><\/a>, CoinGate \u2013 a\u00a0blockchain payment processor headquartered in Lithuania \u2013 embraced it as a payment method.<\/span><\/p>\n

The entity\u00a0<\/span>serves as a bridge between<\/span>\u00a0crypto and traditional finance, collaborating with well-known companies such as Airbnb, Spotify, Nike, IKEA, Walmart, Uber, and many more.<\/span><\/p>\n

\u00a0<\/p>\n

\u00a0<\/p>\n

Pos Important Shiba Inu Metric Explodes by 2,300% as the SHIB Price Rises: Details<\/a> muncul pertama kali di CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shiba Inu experienced a significant increase in transaction volume and price, supported by improvements in its blockchain technology and increased token burns. SHIB\u2019s adoption as a payment method by CoinGate further enhances its utility and exposure in the cryptocurrency market. This SHIB Indicator Took off The second-biggest meme coin in terms of total market […]<\/p>\n","protected":false},"author":0,"featured_media":1569,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1568","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nImportant Shiba Inu Metric Explodes by 2,300% as the SHIB Price Rises: Details - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/id\/important-shiba-inu-metric-explodes-by-2300-as-the-shib-price-rises-details\/\" \/>\n<meta property=\"og:locale\" content=\"id_ID\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Important Shiba Inu Metric Explodes by 2,300% as the SHIB Price Rises: Details - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"TL;DR Shiba Inu experienced a significant increase in transaction volume and price, supported by improvements in its blockchain technology and increased token burns. 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