Once a bland coin, SHIB is now ranked 11th by market capitalization and has broken out above the $6 billion mark, confirming its claims to be something more important than mere memes. Not only that SHIB’s market value has risen almost 32%. With outstanding interest doubling to $101.65 million, which is the highest since Feb. 5.
Shib Price Analysis
The market capitalization of SHIB has reached $6,388,003,624 with a trading volume of $593,528,650 according to the market reports. Investors are pouring money into the meme-focused cryptocurrency. It is worth noting that the dog-themed coin is up 8.15% in just 24 hours.
In addition, the coin is up nearly 20% over the past week, indicating substantial progress. It is closing in on the value of $1 and is currently trading at $0.00001083. There were previous media reports that SHIB witnessed a 1.194% investor influx with whales supplying Shiba Inu.
Layer-2 security to remove the Meme-Coin tag?
What now? Mark August 15-16 the upcoming “The Summer of Shibarium” will be launched at the Blockchain Futurist Conference in Toronto, Canada. Expectations are high with Shibarium as a layer-2 security, and investors are hoping the event will take its meme coin tag away. These positive changes leading up to the event are very important as SHIB will be one of the main sponsors of the event.
Pseudonymous leader Shytoshi Kusama will also give a speech at the event using AI technology to mask his identity. Shibarium is a long-awaited Layer-2 solution, and three new “partnerships” have been drafted, one of which has already been signed, according to Kasuma. These will witness an influx of valuable experts, as announced by Shytoshi in a Telegram post. The other two partnerships are also expected to be announced soon.
Kasuma playing a prank on Elon Musk?
According to Kasuma, SHIB and Shibarium are the biggest things in the blockchain world, and copying them will not be a successful attempt in your life. He also recently made a statement that sounded like “SHIB>X,” which sounded like a jab at Elon Musk’s social media app. However, Kasuma cleared the air with his explanation that it had nothing to do with the X and he only warned everyone against copying Shibarium.