Shiba

SPX6900

Momentum

Shiba Inu

Inu.

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     <li><strong>Shiba Inu is experiencing a significant decrease in activity on its Layer-2 network, Shibarium, leading to a loss of investor interest.</strong></li>
     <li><strong>New meme coins like SPX6900 are experiencing explosive growth rates, drawing capital and attention away from Shiba Inu.</strong></li>
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    <p>The cryptocurrency market is known for its high volatility and dynamic nature. Currently, <a href="https://www.ethnews.com/ethereum-whales-dump-pepe-and-shiba-inu-to-bet-big-on-the-next-solana-eyes-set-on-a-12000-run/" rel="noopener noreferrer nofollow">Shiba Inu</a>, once a star among meme coins, is facing serious challenges. The currency, which had gained significant value through viral trends and investor enthusiasm, now finds itself in a period of stagnation. As of October 9, the price was around $0.00001718, marking a 21% decrease from the monthly high.</p>
    <p>This trend is particularly noticeable in the context of newly emerging meme coins, which are recording spectacular growth rates. For example, the coin SPX6900 has increased by more than 300% within a week, leading to a substantial shift in investment flows. Crypto investors are constantly on the lookout for the next big opportunity, which further increases the pressure on Shiba Inu.</p>
    <h2 id="shibarium-lack-of-momentum-threatens-shiba-inu">Shibarium: Lack of Momentum Threatens Shiba Inu</h2>
    <p>A crucial aspect of Shiba Inu’s current predicament is <a href="https://www.ethnews.com/shiba-inus-shi-stablecoin-on-the-horizon-as-exec-hints-at-shibarium-integration/" rel="noopener noreferrer nofollow">Shibarium</a>, its own Layer-2 network. This was initially intended to enhance scalability and transaction speed, thereby increasing the utility and value of Shiba Inu. Instead, ShibariumScan reveals alarming signs: the number of active accounts has fallen below 500, and the number of new accounts created on October 8 was only 33.</p>
    <p>This lack of network activity leads to a decrease in transaction fees, which have fallen from 0.062 <a href="https://www.ethnews.com/bone-tokens-astonishing-858-on-chain-surge-ignites-shiba-inu-community/" rel="noopener noreferrer nofollow">BONE</a> to an average of 0.005 BONE, a decline of 91%. While lower fees might be seen as a positive development, in this case, they merely reflect dwindling interest and reduced use of the network. Another negative effect is the reduction in the SHIB burning process, a mechanism to decrease the circulating supply and support the token value.</p>
    <p>The market for <a href="https://www.ethnews.com/will-shiba-inu-rally-like-2021-this-solana-meme-coin-could-deliver-30000-gains-before-shib-hits-1/" rel="noopener noreferrer nofollow">Shiba Inu</a> futures is also not showing positive signs. Open positions have decreased from $70 million to $44 million, indicating low expectations for future price increases.</p>
    <h2 id="the-future-of-shiba-inu-and-shibarium">The Future of Shiba Inu and Shibarium</h2>
    <p>It remains to be seen how <a href="https://www.ethnews.com/shiba-inu-shib-and-book-of-meme-bome-set-for-q4-price-surge-experts-recommend-cutoshi-cuto-for-explosive-growth/" rel="noopener noreferrer nofollow">Shiba Inu</a> and Shibarium will hold up in a crypto landscape increasingly dominated by newer, more attractive meme coins. A realignment and re-winning of investor trust are crucial to avoid sliding into irrelevance. Without significant improvements, Shiba Inu and Shibarium could become relics of a past era, overtaken by more innovative and dynamic newcomers in the crypto market.</p>
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<p>The post <a href="https://www.ethnews.com/shiba-inu-crisis-shibarium-loses-investor-confidence/" rel="noopener noreferrer nofollow">Shiba Inu Crisis: Shibarium Loses Investor Confidence</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.</p>

Shiba Inu Crisis: Shibarium Loses Investor Confidence

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