In a recent tweet, Lucie, the official marketing expert of the Shiba Inu team, shared her perspective on the recent price action of the Shibarium trifecta and highlighted the one mistake made by Shytoshi Kusama and his developer team. While acknowledging the significant drop in price, Lucie expressed her faith in the project and commended the team for keeping their promises. However, she noted that they underestimated the demand for the newly launched Shibarium blockchain, which led to some setbacks. Despite this mistake, Lucie remains optimistic and believes that the team’s continuous improvements will ultimately benefit investors.
They kept their promises but made only one mistake
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Scaling Shibarium operations by 1,500%
The recent launch of Shibarium, the Layer 2 solution for the Shiba Inu blockchain, has led to an overwhelming influx of new users. This influx, coupled with the large number of contracts and transactions being executed within a single block, has put a strain on the scalability of Shibarium operations. However, the development team has taken proactive steps to address this issue.
To support and manage the increased traffic on Shibarium, the team has created new protocols. These protocols are designed to handle the high volume of contracts and transactions, ensuring the smooth operation of the blockchain. The Alchemy team, in particular, has made significant contributions to scaling operations, ultimately increasing the capacity of Shibarium by 1,500%.
9.2 trillion SHIB transferred by whales as SHIB price dips
In recent news, Whale Alert, a popular tracking service, reported two massive transfers of Shiba Inu (SHIB) tokens. These transfers, totaling 9.2 trillion SHIB, have caught the attention of the cryptocurrency community.
The first transfer involved the movement of 4,669,778,173,637 SHIB from an anonymous address to a brand new wallet. This transfer effectively created a new SHIB whale, adding to the already existing group of influential holders in the SHIB community.
The second transfer was a withdrawal from the Bitvavo exchange to an anonymous address. Each transfer was valued at approximately $38.3 million in fiat, underscoring the significance of these transactions and their potential impact on the SHIB market.
The opinions of the official marketing expert
Lucie, the official marketing expert of the Shiba Inu team, recently shared her thoughts on the price action of the Shibarium trifecta—SHIB, BONE, and LEASH—via a tweet. Despite the significant drop in the prices of these tokens and the overall crypto market, Lucie remains optimistic.
Lucie acknowledged that the fall in the price of SHIB can be attributed, in part, to the unsuccessful release of Shibarium. However, she expressed no disappointment in the project leader, Shytoshi Kusama, and his team. According to Lucie, the development team has fulfilled their promises to the SHIB community by creating and finally releasing Shibarium after nearly two years of hard work. The only mistake, in Lucie’s opinion, was underestimating the number of users who would join the newly launched Shibarium blockchain.
Despite this mistake, Lucie commended the development team for their transparency and daily updates on network improvements. She remains optimistic about the future of Shibarium and believes that one day, the challenges faced during its launch will be nothing more than a joke to tell investors.
Acknowledging the hard work
The successful development and launch of Shibarium did not come without significant effort from Shytoshi Kusama and his team. According to reports, Kusama and his developers have been dedicated to working on Shibarium for nearly two years, investing their time and expertise to ensure its success.
Throughout the development process, the team provided daily updates on network improvements, demonstrating their commitment to transparency and continuous progress. While there may have been some challenges along the way, it is clear that the team’s hard work and dedication have paid off, with the successful release of Shibarium.
Looking ahead, it is believed that the challenges faced during the launch of Shibarium will eventually be seen as a humorous anecdote, highlighting the resilience and determination of the development team.
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Improvements in scaling Shibarium operations
In a recent blog post, Kaal Dairya, a top Shiba Inu developer, shared insights into the efforts being made to scale Shibarium operations. The overwhelming influx of new users to Shibarium has necessitated the creation of new protocols to support and manage the large amounts of traffic on the network.
These protocols have been designed to handle the increased volume of contracts and transactions, ensuring the efficient operation of Shibarium. Furthermore, Shytoshi Kusama has provided a positive update on the scaling operations, expressing confidence in the team’s ability to address the challenges and meet the growing demands of the user base.
The Alchemy team, in collaboration with the SHIB and Unification teams, has played a significant role in scaling operations, contributing to a 1,500% increase in the capacity of Shibarium. These efforts demonstrate the commitment and expertise of the development team in addressing the needs of the growing Shibarium community.
Large transfers of SHIB by whales
The recent large transfers of SHIB tokens, as reported by Whale Alert, have caught the attention of the cryptocurrency community. These transfers, totaling 9.2 trillion SHIB, highlight the influence of whale activity on the SHIB market.
One of the transfers involved the movement of 4,669,778,173,637 SHIB from an anonymous address to a new wallet, effectively creating a new SHIB whale. The second transfer was a withdrawal from the Bitvavo exchange to an anonymous address.
Each transfer had a significant value, with approximately $38.3 million in fiat being moved in each transaction. The impact of these transfers on the SHIB market remains to be seen, but they serve as a reminder of the role that whales can play in shaping the market dynamics.
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About the author
Yuri Molchan, the author of this article, is a prominent cryptocurrency journalist with a strong interest in technology and technical innovations. He has been involved in the crypto industry since 2017 and has written for various crypto media outlets.
Yuri firmly believes in the transformative potential of blockchain and cryptocurrencies and has been an advocate for their adoption. Through his writing, he aims to provide accurate and timely information to readers, empowering them to make informed decisions in the ever-evolving crypto landscape.
With his experience and expertise in the crypto field, Yuri seeks to contribute to the understanding and growth of the crypto community.
Bitcoin current price drop explained
Cryptocurrency analyst Tomiwabold Olajide provides insights into the recent price drop of Bitcoin. According to Olajide, the current drop in Bitcoin’s price can be attributed to several factors. He highlights market sentiment, regulatory concerns, and profit-taking by investors as contributing factors to the downward trend.
Olajide emphasizes the importance of understanding the underlying factors driving price movements in the cryptocurrency market, encouraging investors to conduct thorough research and seek advice from financial experts before making investment decisions.
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Massive Shiba Inu (SHIB) whale born
A significant transfer of SHIB tokens has resulted in the creation of a massive SHIB whale. The transfer, reported by Whale Alert, involved the movement of a large amount of SHIB tokens from an anonymous address to a new wallet.
This transfer has implications for the SHIB market, as the influence of whale activity on price dynamics cannot be ignored. The emergence of this new SHIB whale adds to the existing dynamics of the SHIB market and may impact future price movements.
The creation of this massive SHIB whale serves as an example of the unpredictable nature of the cryptocurrency market and highlights the need for investors to stay informed and understand the potential impacts of whale activity.
In conclusion, Shytoshi Kusama and his development team have fulfilled their promises to the SHIB community by creating Shibarium. While there may have been some challenges along the way, the scaling of Shibarium operations and the involvement of whales in the SHIB market demonstrate the continued growth and influence of the Shiba Inu ecosystem. With the dedication and expertise of the development team, it is believed that Shibarium will continue to evolve and meet the demands of its growing user base.