Recent events in the Shiba Inu ecosystem have brought to light some significant developments and challenges that the meme coin has been facing. From spikes in Shibarium’s total value locked to concerns about declining daily transactions, the landscape for Shiba Inu remains dynamic and evolving.

Shibarium Progresses Amidst Challenges

Shibarium, the layer-2 network, experienced a surge in total value locked, indicating growing investor confidence. While reaching a milestone of 5 million total blocks processed reflects increasing demand and adoption, the network’s dwindling daily transactions pose a challenge. This decline has also impacted token burns, with a notable decrease in the number of tokens burned recently.

Shiba Inu Price Vulnerability

Recent data suggests that a substantial amount of SHIB tokens are at risk of being sold, potentially leading to a further price drop. Significant pressure on Shiba Inu comes from tokens moving to exchanges, signaling potential sell-offs by holders. These factors could contribute to a significant price correction in the near future.

Remembering a Key Moment in Shiba Inu History

Shiba Inu’s history includes a defining moment when Ethereum’s Vitalik Buterin burned a significant portion of SHIB tokens, leaving a lasting impact on the ecosystem. This event, commemorated by the Shiba Inu official account, remains a pivotal moment in the coin’s journey.