Shibarium’s Unexpected Challenge Lucie, a key figure in the Shiba Inu ecosystem and renowned SHIB aficionado, recently shared her perspective on the Shibarium launch through social media platforms. Lucie highlighted that her holdings in BONE, SHIB, and LEASH tokens faced a notable depreciation, echoing the overall downturn of the crypto market. She candidly acknowledged that the decline in SHIB and its associated tokens could be attributed, in part, to the less-than-stellar launch of Shibarium. Nevertheless, Lucie remains optimistic. She expresses her continued confidence in Shytoshi Kusama, the project’s spearhead, and his team’s dedication. In her view, the sole oversight was underestimating the influx of users eager to be part of the debutant Shibarium blockchain.
XRP Whales Drive Token’s Momentum Recent data from Santiment reveals a heartening 4% uptick in XRP’s price, much to the joy of its proponents. This upward trajectory is largely driven by XRP’s substantial holders, commonly referred to as whales. Notably, 221 addresses, each holding between 10 million to a staggering 1 billion XRP, have been instrumental in this trend. These influential entities collectively possess 16.13 billion tokens, translating to a whopping $8.71 billion. Adding to the intrigue, on August 18th, another cohort of whales, with holdings ranging from 100 million to 1 billion XRP, augmented their portfolio by a cool 1.01 billion tokens. This upped their total holdings to an impressive 11.03 billion XRP. The correlation between the slight price elevation, hovering at approximately $0.43 per XRP, and this accumulation pattern is palpably evident. The nuanced price climb undeniably sparked heightened investor interest.
SHIB’s Strategy for Value Restoration Following the lukewarm reception of the Shibarium Layer 2 protocol, SHIB, the meme coin, has been pulling out all stops to reclaim its diminished value. A familiar tactic to the SHIB community is token burning. As per Shibburn data, a staggering 106 million SHIB tokens were recently dispatched to dead-end wallets. Presently, SHIB’s valuation stands at $0.000007903, marking a 2.35% dip in the last day. However, the influence of the burned tokens on price rejuvenation is evident. Over the past week, SHIB has managed to reduce its losses to 19%, a testament to the efficacy of its revival initiatives. Some enthusiasts even posit that SHIB might reach the $1 mark within the next half-decade.
