- Mid-size crypto investors have been rapidly accumulating Shiba Inu (SHIB) over the past two months, according to Santiment.
- The Shiba Inu ecosystem recently saw the public release of a beta bridge associated with Shibarium, its anticipated layer-2 scaling solution.
- Shibarium’s reduced gas fees could potentially raise the price of Bone ShibaSwap (BONE), while its deflationary mechanism could increase the value of SHIB.
In a surprising turn of events, mid-size crypto investors have been rapidly accumulating Shiba Inu (SHIB) over the past two months. This data, revealed by market analytics platform Santiment, indicates that these investors, termed as ‘sharks’ and ‘dolphins’, have accumulated around $9 million worth of the meme coin in the last eight weeks. This is a significant amount for SHIB, which is currently the 15th-ranked crypto asset.
The Shiba Inu ecosystem has been buzzing with activity recently. A few days ago, a beta bridge associated with Shibarium, the project’s highly anticipated layer-2 scaling solution, was publicly released. This bridge allows users to transfer tokens between Shibarium and Ethereum (ETH), the leading smart contract platform, without any third-party risks or impact on market liquidity.
Lucie, Shiba Inu’s marketing specialist, has stated that this network bridge is designed to be fast, cost-effective, and flexible. It also serves as a scaling solution. She further detailed how Shibarium could impact the price of Bone ShibaSwap (BONE), its gas fee token, and SHIB itself. According to her, Shibarium’s reduced gas fees will likely raise the price of BONE, while the project’s deflationary mechanism would reduce the supply of SHIB, theoretically increasing its price.
The future of Shiba Inu and SHIB appears promising. With the ongoing developments in the Shiba Inu ecosystem and the increasing adoption of SHIB, the coin is set to make significant strides in the crypto space. The potential of SHIB to revolutionize transactions suggests a positive trajectory for Shiba Inu in the crypto market.
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- Source: https://cryptonewsland.com/shiba-inu-sees-a-two-month-feeding-frenzy-by-sharks-and-dolphins/
