Shiba

Solana

Base

when

Shiba Inu

Several <a href="https://bitcoinist.com/shiba-inus-shibarium-hits-new-record-amid-chaotic-market-movements/">developments and happenings</a> in the Shiba Inu (SHIB) ecosystem continue to highlight the crypto token’s growth. These fundamentals also hint at <a href="https://bitcoinist.com/shiba-inu-surge-crypto-shib/#:~:text=Shiba%20Inu%20To%20See%20A%20300%25%20Gain%20Before%20Year%2Dend&amp;text=Looking%20at%20SHIB's%20chart%2C%20the,invest%20in%20the%20crypto%20token.">SHIB’s price</a> being primed for further <a href="https://bitcoinist.com/shiba-inu-dogecoin-shib-excitement/">moves to the upside</a>.&nbsp; 
<h2 id="the-shib-army-is-resilient">The SHIB Army Is Resilient</h2> 
<a href="https://www.newsbtc.com/shiba-inu/shiba-inu-0-001-9-25-trillion-shib/" rel="nofollow noopener" target="_blank">Shiba Inu team member Ragnar</a> drew the community’s attention to the rise in the number of SHIB’s long-term holders in less than a year despite the meme coin’s tepid price movement at some point. Data from the market intelligence platform IntoTheBlock showed that the number of addresses holding $10 million worth of SHIB has grown from 57 to 209 since June 2023.&nbsp; 
Meanwhile, there has also been an uptick in the number of addresses holding $1 million worth of SHIB, with 1319 addresses falling under this category. This information underscores the <a href="https://bitcoinist.com/shiba-inu-team-discloses-projects-true-strength/#:~:text=The%20Shiba%20Inu%20team%20unveiled,commonly%20referred%20to%20as%20ShibArmy.">SHIB community’s faith</a> in the meme coin and how they have continued to remain bullish even when there wasn’t enough reason to do so.&nbsp; 
In another X (formerly Twitter) <a href="https://x.com/RagnarShiba/status/1772380489627713731?s=20" rel="nofollow" target="_blank">post</a>, Ragnar highlighted how Shiba Inu’s burning program and innovations to Shibarium are setting SHIB up for further growth. So far, SHIB Burns, <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-burns/" rel="nofollow noopener" target="_blank">a community initiative</a>, has continued to positively impact the meme coin’s price whenever it is carried out.&nbsp; 
These <a href="https://bitcoinist.com/shiba-inu-burns-bright-shib/">token burns</a> have also increased with the help of the <a href="https://bitcoinist.com/shiba-inu-shibarium-public/">layer-2 network Shibarium</a>, with the team committing to converting some of the network fees to SHIB and burning them. Meanwhile, with the advancements in Shibarium, network activity is expected to pick up again, which would ultimately lead to more SHIB tokens being burnt.&nbsp; 
<h2 id="shiba-inu-marketing-has-also-helped">Shiba Inu Marketing Has Also Helped</h2> 
<a href="https://bitcoinist.com/shiba-inu-latest-shib-magazine/">The Shiba Inu team</a> has also chosen not to rest on its laurels. They have continued to actively develop strategies to onboard new users into the ecosystem and maintain the bullish sentiment in the community. <a href="https://bitcoinist.com/shiba-inu-shib-2024/">Shiba Inu’s Marketing Lead, Lucie</a>, has led the way in this regard, actively promoting meme coin trading on Shibarium for some time now.&nbsp; 
The reason for this isn’t farfetched, as the meme coin frenzy on networks like <a href="https://bitcoinist.com/solana-network-forces-binance-to-halt-withdrawals/">Solana</a> and <a href="https://bitcoinist.com/coinbase-base-opens-doors-featuring-100-dapps/">Base</a> has attracted more users and caused network activity to skyrocket. As such, the team is no doubt looking to lure some meme coin investors to the <a href="https://bitcoinist.com/shiba-inu-shibarium-99-decline/">Shibarium network</a> in hopes that this will help the ecosystem gain more traction.&nbsp; 
Their efforts already seem to be paying off, as their promotion of the <a href="https://bitcoinist.com/shiba-inus-shibarium-hits-new-record-amid-chaotic-market-movements/">‘DAMN’ meme coin</a> has led to a rise in the number of daily active users on WoofSwap, a decentralized exchange (DEX) on Shibarium.&nbsp; 
At the time of writing, SHIB is trading at around $0.00002914, up over 5% in the last 24 hours according to <a href="https://coinmarketcap.com/currencies/shiba-inu/" rel="nofollow noopener" target="_blank">data</a> from CoinMarketCap.&nbsp; 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/IfR7wlHy/" alt="Shiba Inu price chart from Tradingview.com" width="3286" height="1530">

Shiba Inu On The Rise: Here Are The Latest Developments Driving Bullish Sentiment

Table of Contents

Bitcoinist

Other articles published on Mar 26, 2024

DOGE Unveils GigaWallet, Game-Changer for Dogecoin Investors

ADA and BNB Price Prediction for March 26

Ethereum client diversity improves, non-Geth clients now account for 34%

Bitcoin Whale Transfers Over $6B BTC in Major Crypto Movement

IFTTT Linked to Wave of Scam Posts on X: Prominent Crypto Figures’ Accounts Compromised

Luna Classic Rises with Fresh Enhancements and Backing

Join our free newsletter for daily crypto updates!