Shiba Inu Altcoin Soars as Shytoshi Kusama Announces ‘Shibapendence Day’ Ahead of Layer-2 Launch

• The announcement of Shibapendence Day had a profound impact on Bone ShibaSwap (BONE).

• SHIB has achieved a significant milestone, highlighting its rapid adoption and increasing utility. 

The Shiba Inu (SHIB) ecosystem has experienced a rapid surge following the introduction of the first “truly decentralized exchange” by its lead developer, just before the anticipated launch of Shibarium, the project’s highly awaited layer-2 scaling solution.

In a recent blog post, the pseudonymous SHIB developer known as Shytoshi Kusama unveiled “Shibapendence Day,” an event designed to celebrate the SHIB community’s declaration of independence from centralization. He also confirmed that the team is currently working on the release of the second version of ShibaSwap, the project’s decentralized exchange (DEX), although they have yet to announce an exact date.

The announcement of Shibapendence Day had a profound impact on Bone ShibaSwap (BONE), the governance token associated with the DEX, causing its value to soar. Starting from a low of $0.90 on July 1st, the dog-themed cryptocurrency experienced a significant surge, reaching a peak of $1.44 on July 8th, marking a remarkable 60% increase.

According to Kusama, the pseudonymous developer, centralized entities have exploited the Earth’s resources without offering anything in return, laying the foundation for a decentralized future. BONE has since retraced and is trading for $1.34 at the time of writing.

SHIB’s Ongoing Increase in Holder Numbers

Still in the Shiba Inu ecosystem, SHIB has achieved a significant milestone, highlighting its rapid adoption and increasing utility. In the past 24 hours, there has been a substantial increase in the number of SHIB holders.

Based on data from CryptEye, SHIB wallets have risen by 1,679 since yesterday morning. Similarly, LINK has experienced an addition of 548 holders, while MATIC has seen an increase of 707 holders, and MANA has witnessed a rise of 151 holders. In just the past hour, SHIB has gained 35 new holders, contributing to an increase of 10,142 over the past week. As a result, the overall number of SHIB holders has reached 2,368,030.

Image via CryptEye

 As per Puppyscan, the total number of transactions on the Shibarium testnet has surged to 27,615,568, accompanied by an equivalent count of 17,061,117 connected wallets.

Additionally, according to data from Shibburn Explorer, SHIB burns have entered the green zone in the past 24 hours, albeit with a marginal increase of only 7.76% compared to the previous day’s burn. The circulating supply has experienced a removal of 7,966,120 SHIB since yesterday morning. Notably, three transactions involving 2,726,653 SHIB, 4,165,357 SHIB, and 1,074,109 SHIB have transferred these meme tokens to unspendable wallets.

The Shibburn website reports a staggering burn of 410,650,486,211,291 Shiba Inu meme coins, which have been moved to dead-end wallets. Currently, the circulating supply of SHIB stands at 579,109,631,311,495, while 10,239,882,477,213 Shiba Inu coins are actively staked, effectively removing them from circulation.

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