• About Us
  • Careers
  • Contact
No Result
View All Result
Thursday, June 5, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

Shiba Inu’s Value Falls by 1.27% in the Last 24 Hours

Will the Upcoming Shibarium Public Beta Launch Drive Greater Adoption of Shiba Inu?

10 March 2023
in Markets
Reading Time: 7 mins read
108 2
Home Markets

Contents

Toggle
  • Could Shibarium’s Public Beta Launch Lead to a Surge in Shiba Inu Adoptions?
    • The new protocol is attracting developers and enthusiasts…
    • … and the market is responding.
  • Price Analysis for Cryptocurrencies Including BTC, ETH, BNB, XRP, and ADA

Shiba Inu (SHIB) has dropped by 1.27% in the last 24 hours due to the cryptocurrency market’s negative reaction to the possibility of another Fed rate hike. 

Image source: coinmarketcap.com

Rick Rieder, chief investment officer for global fixed income at BlackRock, reportedly stated that they believe the Federal Reserve will likely raise the Fed Funds rate to 6% and maintain it for a long time to slow the pace of the economy and bring inflation to about 2%.

Despite this decline, the current price stands at $0.00001095, which reflects a decrease of 9% over the previous week and 24% over the last 30 days. However, the price has increased by 35% year-to-date. 

Despite the current decline, there is a good chance that SHIB may rise later this week due to the upcoming public beta release of Shibarium, the Layer 2 network for Shiba Inu.

Attention #SHIBARMY 🚨

We’re thrilled to announce that #SHIBARIUM Public Beta will be launching THIS WEEK! 🎉

Make sure you’re following our official socials over the next few days as we reveal all the details on how to access the beta website. Hail Shib! #ShibariumBeta 🦴 pic.twitter.com/0fG3u3mY4S

— Shib (@Shibtoken) March 7, 2023

The Shibarium team has invested several months of development and testing into their Layer 2 solution, which aims to provide the SHIB community with numerous benefits, such as faster and more cost-effective transactions, increased scalability, and enhanced security.

Could Shibarium’s Public Beta Launch Lead to a Surge in Shiba Inu Adoptions?

Shibarium is a Layer 2 blockchain currently under development and will be connected to the Shiba Inu coin. The blockchain is being built on the Ethereum network, which serves as the foundation for Shiba Inu and its entire ecosystem.

The creation of the Shibarium is a significant milestone in the Shiba Inu universe as it serves as a scaling solution. This allows Shiba Inu to operate seamlessly and expand its operations despite the growing demand for its systems.

The Shibarium network uses an upgraded method to permanently decrease the token supply of Shiba Inu coins, resulting in their “burning” and elimination. This approach addresses sustainability-related issues and enhances the value of the remaining coins for holders.

The new protocol is attracting developers and enthusiasts…

Quick Reminder

Many projects will be built on #SHIBARIUM Layer 2 Blockchain.

Just like #ETHEREUM, #BITCOIN , #SOLANA, #CARDANO, #MATIC , ETC.#Shibarium WILL BURN TRILLIONS OF $SHIB‼️🙏

This is a fact 💯👍#SHIB #SHIBA #ShibaInu #SHIBARMY #ShibaArmy #SHIBARMYSTRONG 💪 pic.twitter.com/LnDaBspGAC

— SHIB Bezos (@BezosCrypto) March 8, 2023

Several initiatives, including the Metaverse and NFTs, are utilizing the Shibarium protocol for their development. The Shiba Inu Metaverse project, in particular, is noteworthy as it presents a promising new use case for the SHIB token.

There are 100,595 land plots in the Shiba Inu-themed Metaverse. They are divided into four distinct districts: the Growth District, the Defense District, the Technology District, and the Currencies District. Individuals who possess virtual land plots in the Metaverse can rename them by paying a fee in SHIB tokens.

The increased appeal of this ecosystem to DeFi and other sectors of the crypto economy will result in more SHIB adoption and a rise in user numbers. Since the meme token has dropped significantly more than other tokens recently, this could be the perfect opportunity for SHIB to increase its demand.

Shiba developers released a guide in January 2023 explaining how Layer 2 will work, including information on gas, validator choice, and incentives. Lead developer Shytoshi Kusama explained in a blog post that this Layer 2 network would facilitate the expansion of Shibarium’s presence in professional enterprises and help rekindle relationships with organizations they have engaged with in the past. Additionally, it will aid in identifying the appropriate validators.

On February 27, 2023, Kusama created Shibarium’s new website, Twitter account, and intake form as part of an initiative to attract potential employees. The intake system aims to expand Shibarium’s reach among professional companies and locate competent validators for its Layer 2 solution.

According to Kusama, there has been significant interest in collaborating with Shibarium on various projects since introducing the Shibarium intake form. LucieSHIB, the dedicated Twitter account of the Shiba Inu community, noted that the intake form for Shibarium has been submitted over 3,000 times.

Over 3000 intake forms have been submitted to @Shibariumtech

The first to receive a response was the content creator, new project owners and tokens.

Not all .. still in progress

There is no deadline – you can always apply.

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) March 6, 2023

… and the market is responding.

Over the past few weeks, a considerable number of whales have been disposing of their SHIB holdings. On February 8, the top 500 ERC-20 addresses had a total of over $694 million worth of SHIB, but this figure decreased by 12.5% to $606 million. Despite this decrease, the whale’s SHIB holdings remain significantly higher than the mid-January level of $84.5 million.

Since many whales purchased SHIB at relatively high prices, which should prevent them from selling at a loss, the coin may maintain its $0.0000105 support level.

Price Analysis for Cryptocurrencies Including BTC, ETH, BNB, XRP, and ADA

  • Bitcoin is being traded at $21,749, with a trading volume increase of 6.40%. On February 24, the cryptocurrency’s value dropped below an upward trendline, and on March 1, it was verified as a point of resistance. The cryptocurrency’s failure to surpass the $22,800 mark indicates it is now being challenged at a resistance level.
Image source: coinmarketcap.com
  • At the moment, Ethereum‘s trading value is $1551, and it has witnessed a 6.300% increase in trading volume. As Ethereum surges beyond a significant support level of $1550, a new hurdle of resistance has increased to $1600, possibly leading the way to a potential move toward the 50-day moving average of $1610.
Image source: coinmarketcap.com
  • BNB is currently trading at $289, has a 45.78 billion dollar market cap, and has seen an 11.51% spike in trading volume. According to Coin360, the price of BNB has changed by -0.9588 USD over the course of the last day, and 196,328,157 USD worth of BNB has been exchanged.
Image source: coinmarketcap.com
  • Ripple (XRP) is currently trading at $0.3904, and boasts a trading volume of 24.86%. If the price falls below $0.36, XRP could test the support line of the descending channel pattern. However, buyers may try to prevent that by buying the token.
Image source: coinmarketcap.com
  • Cardano (ADA) has an increased trading volume of 5.79%, currently trading at $0.317. The price of ADA has changed by -0.012005 USD over the past 24 hours, according to Coin360, and 135,280,989 USD worth of ADA has been exchanged on different exchanges.
Image source: coinmarketcap.com

Disclaimer: This piece is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.

 

If you would like to read more market analysis like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram and CoinMarketCap Community.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Previous Post

Hedera Confirms Service Token Loss Was Caused by a Mainnet Exploit

Next Post

Thai SEC Solicits Public Feedback Regarding Proposed Prohibition of Crypto Lending and Staking Services

Favour Udeo

Favour Udeo

Favour is a writer, who is interested in blockchain, DeFi, and Web3 in general. She finds machine learning and emerging technologies interesting.

Related Posts

Hello, crypto fam! It’s the final weekend roundup for May—how time flies, even in a space that never sleeps. We hope May treated you well, and here’s wishing you even more wins in the weeks ahead. If you haven’t subscribed yet, now’s the perfect time to hit that subscribe button and stay in the loop with all the latest Web3 updates! As always, here’s a quick recap of everything that went down this week. Enjoy! Biggest Story Circle Freezes $58M in USDC Amid LIBRA Memecoin Scandal Circle, issuer of the USDC stablecoin, has frozen nearly $58 million linked to the controversial LIBRA memecoin project. The freeze targeted two Solana wallets connected to LIBRA’s deployers, following a class-action lawsuit filed in New York where investors allege insider fraud. Blockchain firm Arkham confirmed Circle’s use of multisig authority to halt transactions, marking a major escalation in one of 2025’s most prominent crypto scandals. LIBRA surged after Argentine President Javier Milei promoted it as a tool for small businesses, reaching over $5 and a $4 billion market cap within an hour. However, a massive insider dump crashed its value by 90%, resulting in $250 million in retail losses. The fallout has sparked political unrest in Argentina and may set new legal precedents in crypto accountability. Other News Making Waves Elon Musk confirms departure as White House cost-cutting czar, ending his controversial tenure leading DOGE, a department created under Trump to slash federal spending and jobs (More) Former CFTC Chair Rostin Behnam warns the U.S. crypto market will stay largely unregulated unless Congress expands the agency’s authority over digital assets like Bitcoin and Ether (More) ASIC sues former Blockchain Global director Allan Guo over the ACX Exchange collapse, accusing him of misusing customer funds and falsifying company records (More) Outgoing CFTC Commissioner Christy Goldsmith Romero warns that the agency’s leadership vacuum threatens balanced crypto regulation and effective oversight (More) Swiss crypto investor to surrender after 28-year-old Michael Carturan escaped a $30M crypto-related kidnapping involving electrocution and torture inside a Soho apartment (More) Michael Saylor slams onchain proof-of-reserves at Bitcoin 2025, calling it a security threat that exposes institutional wallets to tracing and attacks (More) French police arrest over a dozen suspects, including minors, tied to crypto-related kidnapping rings targeting Parisian crypto entrepreneur families (More) Sygnum hires ex-CFTC Chair Christopher Giancarlo as senior policy adviser to steer regulatory strategy amid booming institutional crypto interest (More) Dedaub reveals Cetus DEX exploit used AMM logic flaw to drain $223M by manipulating liquidity pools via single-token injections and slippage abuse (More) Around the World: Bold Moves and Crypto Regulations NYC Mayor Eric Adams pushes for a municipal “Bitbond” to integrate Bitcoin into public finance and renews calls to repeal the burdensome BitLicense regulation to revive New York’s crypto ecosystem. (More) Pakistan plans to establish a strategic Bitcoin reserve and national crypto wallet, while allocating 2,000 megawatts of surplus electricity to Bitcoin mining and AI data centers. (More) White House AI and crypto lead David Sacks hints at potential U.S. Bitcoin purchases under a “budget-neutral” policy, leveraging a March 6 executive order authorizing such acquisitions. (More) IMF approves a $120 million disbursement to El Salvador but demands withdrawal from the Chivo wallet and a halt to Bitcoin expansion, clashing with Bukele’s continued daily BTC purchases. (More) Thailand to allow tourists to spend crypto linked to credit cards, shielding local merchants from volatility while advancing broader fintech reforms and launching digital government bond tokens. (More) Pakistan earmarks 2,000 megawatts of electricity for Bitcoin mining and AI data centers, turning energy surpluses into digital infrastructure growth amid rising tech investment initiatives. (More) Dubai launches MENA’s first tokenized real estate platform, Prypco Mint, enabling UAE residents to invest in property from just Dh2,000 through fractional ownership. Backed by major regulators and institutions, the initiative aims to tokenize 7% of Dubai’s property market by 2033. (More) Market Trends: Winners and Losers Top 5 Gainers 📈 According to data from CoinGecko, these are the five biggest gainers of the week: Zebec Network +121.78%, from $0.00290855 to $0.00645154 Central African Republic Meme +155.65%, from $0.02301762 to $0.058874 WalletConnect Token +94.71%, from $0.590721 to $1.15 NATIX Network +101.79%, from $0.00094523 to $0.00190804 Undeads Games +54.73%, from $0.695351 to $1.076 Top 5 Losers 📉 According to data from CoinGecko, the five biggest losers of the week are: Efinity -15.36%, from $0.616844 to $0.522099 Hey Anon -18.65%, from $6.22 to $5.06 Based Fartcoin -31.02%, from $0.00043206 to $0.00029793 B3 -25.26%, from $0.00463979 to $0.00346849 Covalent X Token -19.45%, from $0.04228250 to $0.03405899 Project Spotlight Gomble Games Launched GOMBLE BUILDERS: A Community-Powered Web3 Gaming Platform Gomble Games, creators of the hit Web3 title EggDrop, has launched GOMBLE BUILDERS, a collaborative game development platform where communities, NFT holders, and developers co-create games and share in the rewards. Unlike most Web3 projects, these games are built for mainstream mobile users, blending user-generated content with wide accessibility. Through asset licensing, AI tools, and integrated IPs, contributors can influence gameplay and earn revenue from their creations. Why It Matters: GOMBLE BUILDERS bridges Web3 innovation with Web2-scale reach, offering a new model where ownership, creativity, and financial upside are shared. With support from major partners and powered by the $GM token, it’s redefining game development as a collaborative, inclusive economy for global players. Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence. If you want to read more market analyses like this one, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community. Your Weekend Crypto Roundup | May 2025 (Week 5)
Markets

Your Weekend Crypto Roundup | May 2025 (Week 5)

31 May 2025
Markets

Your Weekend Crypto Roundup | May 2025 (Week 4)

23 May 2025
Your Weekend Crypto Roundup | May 2025 (Week 3)
Markets

Your Weekend Crypto Roundup | May 2025 (Week 3)

16 May 2025
Your Weekend Crypto Roundup | May 2025 (Week 2)
Markets

Your Weekend Crypto Roundup | May 2025 (Week 2)

9 May 2025

Featured Posts

The Hidden Dangers of Holding Crypto in Exchanges

The Hidden Dangers of Holding Crypto in Exchanges

byOlajumoke Oyalekeand1 others
27 May 2025
0

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

Should We Put a Price on Everything? The Ethics of Tokenizing Human Actions

byFaari Labinjo
27 May 2025
0

The Most Influential Figures in Crypto History and Their Impact

The Most Influential Figures in Crypto History and Their Impact

byBobby Okposin
14 May 2025
0

Are Layer 2 Solutions Enhancing Ethereum—or Killing it?

byOlayinka Sodiqand1 others
6 January 2025
0

Beginner’s Guide To Earning Passive Income In Crypto | DeFi Planet

Simple Ways To Earn Passive Income From Your Crypto

byArjun Chandand1 others
1 September 2021
0

Read More

Chain of Thoughts

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

DAOs and the Coordination of Human Endeavour

DAOs and The Coordination of Human Endeavour

byOlu Omoyele
27 April 2025
0

...

Should DeFi Be Regulated?

Should DeFi Be Regulated?

byOlu Omoyele
27 March 2025
0

...

Is Tokenization All That It’s Cracked Up To Be?

Is Tokenization All That It’s Cracked Up To Be?

byOlu Omoyele
26 February 2025
0

...

Markets Update

Your Weekend Crypto Roundup | May 2025 (Week 5)

4 days ago

Your Weekend Crypto Roundup | May 2025 (Week 4)

2 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 3)

3 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 2)

4 weeks ago

Your Weekend Crypto Roundup | May 2025 (Week 1)

1 month ago

Your Weekend Crypto Roundup | April 2025 (Week 4)

1 month ago
Read More

Events

Crypto Valley Conference
Crypto Valley Conference
5 Jun 25
Risch-Rotkreuz

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

$ZEUS Marking His Territory: Announcing An IP Collaboration with Original Zeus Artist and Trademark Holder

bychainwire
4 June 2025
0

Huma Joins the Global Dollar Network to Advance Stablecoin Adoption on Solana

bychainwire
4 June 2025
0

Zircuit Joins Binance Alpha: ZRC Airdrop & Trading Competition Go Live

bychainwire
3 June 2025
0

CoinsBee Surpasses 5,000 Gift Card Brands, Becoming the Largest Crypto Gift Card Platform Worldwide

bychainwire
3 June 2025
0

PrimeXBT expands global reach with FSCA-regulated crypto asset services

bychainwire
2 June 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverses
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00