Data from on-chain analytics firm IntoTheBlock highlights a spectacular surge for the Shiba Inu Chain, with new addresses having soared by an incredible 115% within the past week. This could potentially constitute a “FOMO” movement, as observers may be interpreting the increase in new addresses as a sign of money flooding the system.
The prominent Shiba development team recently outlined a grand plan for its upcoming so-called “summer of Shibarium.’ According to their announcement, BONE was announced as the engine and gas fee token while SHIB will be pegged as the foundation for Shibarium’s development. Subsequently, LEASH was explicitly designated as the exclusive token to augment the whole Shiba system.
On top of this trend, recent assessments from monitors and various metrics provide evidence for the reliability of the network, with most regarding the rapidly growing daily active addresses thus far as effective indicators for its ascending market tactics. In this regard, Puppyscan records an accumulation of transactions on the Shibarium testnet of over 31 million, confirming the network’s functionality and security.
Further, it was recently revealed that Shytoshi Kusama, the lead of Shiba Inu, waxed lyrical about the upcoming permanent decentralization of the entire Shiba platform. He proclaimed that such defining activities will grant select tokens the power to enfranchise their holders to act as a civil right – an autonomous governing entity conducive to the due functioning of the technological ecosystem.
Analysts dubbed the most recent phenomenon as an effect of the listing of the BONE token on Changelly, a the top-tier exchange for over 500 digital assets – when factoring low transactional costs, Changelly’s listing could serve as a staple recipe for more prospective congregation for Shibarium.
