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Shibarium’s Latest Milestone Fails to Stop SHIB’s Nosedive: Details

  • Shibarium's latest milestone of surpassing 10 million blocks added to the layer-2 scaling solution did not prevent the price of SHIB from plunging by 13%.
  • The sharp decline in SHIB's valuation was in line with the overall crypto market crash due to the global trade war.
  • Shiba Inu's burning mechanism has seen a significant drop in burn rates, reducing the number of tokens being destroyed.
  • SHIB's exchange netflow suggests a shift from self-custody to centralized platforms, potentially leading to increased selling pressure for the meme coin.

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