#ShibaInu #SHIB #CryptoNews #Cryptocurrency #Shibarium #MemeCoins #Blockchain #CryptoCommunity
Shiba Inu’s supply on cryptocurrency exchanges has demonstrated a notable decline, buoying optimism in the crypto market about the coin’s future valuation. This trajectory began in June when around 9% of SHIB was on exchanges, and continued to drop to a low of 7.58% on exchanges in December. Typically, this move towards self-custodial methods is interpreted as bullish for the currency’s valuation, implying a reduction in immediate selling pressure. Conversely, an uptick in the percentage of SHIB on exchanges could indicate a price correction.
Additionally, Shibarium, Shiba Inu’s layer-2 solution, is marking its own milestones. In early December, its transaction volumes commenced a surge, ultimately reaching nearly 100 million transactions and surpassing 2 million total blocks. A key feature designed to enhance Shiba Inu’s leadership in the memecoin sphere, Shibarium augments transaction speed and slashes associated fees. In more recognition for the Shiba Inu community, the social media analytics tool LunarCrush tagged Shiba Inu as having the most dedicated followers among memecoins. Dogecoin and Bonk Inu trailed as second and third respectively.
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