• Shiba Inu (SHIB) has lost its key support level and BONE token plunged 10% as bears returned.
• 85,682,280 SHIB tokens were burned by the community in what is now the largest burn transaction of the year.
• The team plans to release Shibarium Public Beta this week and feature SHIB: The Metaverse at SXSW Experience in Austin, Texas.
Shiba Inu (SHIB) Loses Support Level
The popular Japanese guard dog-themed cryptocurrency Shiba Inu (SHIB) lost a multi-month fundamental support level and added a zero to its price as global crypto market cap falls short of $1 trillion once again.
SHIB Army Performs Record Burn Transaction
In order to fight the bear market, the community known as the SHIB Army contributed towards maintaining SHIB’s price by burning a desired amount of tokens on Shibburn. Today, one particularly large SHIB burn transaction made waves on Twitter with 85,682,280 SHIB tokens set ablaze; breaking the record for largest burn transaction this year.
Shibarium Public Beta Release
Caught up in a bull trap, Shiba Inu is trying to regain momentum with planned upgrades; including the upcoming release of Shibarium Public Beta this week as confirmed by SHIB Token’s developer team.
SHIB: The Metaverse featured at SXSW Experience
Another highly anticipated upgrade is that Shiba Inu’s metaverse project—SHIB: The Metaverse—will be featured at SXSW Experience in Austin, Texas. This could be a turning point for the ecosystem as previously only conceptual artwork had been revealed.
BONE Plunges 10%
At press time, #14 ranked memecoin SHIB trades at $0.00000973 according to CoinGecko and has dropped 8.5% in value over 24 hours and 30% since last month respectively. Shibarium’s intended gas fee token Bone ShibaSwap (BONE) also plunged 11.3% in 24 hours and 15.2% since last month; dropping out of TOP 100 by global market capitalization to occupy #105 with $1.55 trading value according to CoinGecko