Bitcoin: U.S. Inflation, debt crisis, and more might threaten BTC’s 2023
‘Collectible NFTs’ fail to bolster SHIB utility: An exercise in futility?
Analyzing Uniswap’s NFT future after the launch of DeFi aggregator
Why Litecoin’s 2023 halving may not repeat its historical rally
Avalanche investors could be disoriented as AVAX exhibits these signs
Bitcoin: U.S. Inflation, debt crisis, and more might threaten BTC’s 2023
Bitcoin: Why betting against a BTC price rally might not be the way ahead
Hopeful BTC investors banking on a bull run may want to read this because…
BTC pushes toward the highs of a two-month range, will the bulls be repelled?
BTC’s price could move in either direction and this is the rationale behind it
GALA: The rally in price is enticing, but there is more than meets the eye
Ethereum bulls remain euphoric but bears will look to erase all the recent gains
Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…
Is Yuga Labs responsible for these changes in the NFT landscape? Details inside…
Attention LDO holders! Now might be the time to rethink your trading strategy
Published
on
By
Shiba Inu [SHIB] has devised a unique strategy to pique the interest of its audience by announcing plans to create collectible NFTS and physical items for its genesis NFT holders.
Read Shiba Inu’s [SHIB] Price Prediction 2023-24
On 10 January, Shibtoken announced a partnership with Buggati alongside the news of its collection’s impending release. Titled the genesis Shiboshi NFT, the collection will also be available as a tangible item, which is consistent with some fashion companies’ aims to offer customers the best of both worlds.
We can't wait to share with you some exciting moments, in this our first collaborative #Shiboshis partnership set to bring physical items and collectible NFTs to the hands of our most devoted and supporting @Shibtoken's NFT genesis holders
2/7 🧵 pic.twitter.com/XrKa5zWhNi
— Shib (@Shibtoken) January 10, 2023
As a fork of the Uniswap token UNI, Shiba Inu is a digital token that was developed in August 2020. SHIB has a distinctive feature – 10% of the token total amount is burned with each transaction. The burn will gradually cause the total supply of the token to decline.
However, the price movement has not been favorably impacted despite the burns that have occurred throughout time. Its lack of utility has also been a problem, which a thriving ecosystem could help. Additionally, if Shibarium is ever launched, the SHIB token may receive the utility for which its owners have been clamoring.
A good amount of SHIB tokens are being accumulated, according to data from Dune Analytics, despite the token’s apparent lack of utility. An upward trend in the accumulation level was visible in the graph below.
Source: Dune Analytics
However, the observed figure showed that the number of daily active users has been quite low. This is to be expected, as there is no practical use for the meme coin, and the primary motivation for any transaction is accumulating it.
How many SHIBs can you get for $1?
On a daily time scale, SHIB was observed to be on an upward trend for some days. However, it had already lost over 5% of its gains at the time of writing. The price of the token was about $0.00008. If the price trend continued to decline, its support level near $0.00007 should hold.
Source: TradingView
Bitcoin: U.S. Inflation, debt crisis, and more might threaten BTC’s 2023
Analyzing Uniswap’s NFT future after the launch of DeFi aggregator
Ser Suzuki Shillsalot has 8 years of experience working as a Senior Investigative journalist at The SpamBot Times. He completed a two-hour course in journalism from a popular YouTube video and was one of the few to give it a positive rating. Shillsalot’s writings mainly focus on shilling his favourite cryptos and trolling anyone who disagrees with him. P.S – There is a slight possibility the profile pic is AI-generated. You see, this account is primarily used by our freelancer writers and they wish to remain anonymous. Wait, are they Satoshi? :/
Whales find a liking for Shiba Inu [SHIB] but a burning issue prevails
Shiba Inu: Unusual burn transaction and everything that paper hands should know
More Shiba Inu [SHIB] tokens to be burned, but to what end?
Shiba Inu [SHIB]: Extra gains could be unlikely if this obstacle persists
Shiba Inu Coin (SHIB) Price Prediction 2025-2030: Paper hands can short SHIB at…
Shibarium new updates and here is how it can affect SHIB
Your email address will not be published.
document.getElementById( “ak_js_1” ).setAttribute( “value”, ( new Date() ).getTime() );
Disclaimer: AMBCrypto’s content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.
