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As seen on its hourly chart, SHIB posted a massive green candle as congratulatory wishes pour in for the dog-themed crypto asset on the occasion of its third anniversary. Over the weekend, the official SHIB Twitter account shared a countdown to the event, and finally, the big day has come.
In recent hours, Lucie, a Shiba Inu ecosystem official, offered wishes for Shiba Inu on its third anniversary, as did several Shiba Inu community members. On July 31, 2020, the Shiba Inu token was deployed, marking a landmark event for the network.
As seen on the hourly chart, the SHIB price has posted two consecutive green candles. This has yet to translate to daily gains given the declines SHIB saw the prior day.
At the time of writing, SHIB had recouped the prior day’s losses and was up 1.92% in the last 24 hours to $0.00000868. SHIB is responding favorably to the news of the announcement of its new age, which coincides with the beginning of an era of change for Shiba Inu.
The official Shiba Inu development team has declared the start of a new era, the “summer of Shibarium.”
In this new age, major updates to the SHIB decentralization mission are expected. In an earlier blog post, Shiba Inu lead Shytoshi Kusama unveiled the next direction for SHIB, which focuses on governance.
Kusama provided a high-level perspective, with upcoming governance use cases for SHIB ecosystem tokens such as SHIB, BONE, LEASH and TREAT.
The Shiba Inu-Ethereum bridge has already debuted in beta, and the community is eagerly awaiting the introduction of the Shibarium Layer 2 mainnet.
Large Shiba Inu owners are also positioning themselves for the new SHIB era. Santiment stated in a tweet over the weekend that 1.11 trillion Shiba Inu tokens worth more than $9 million have been added by 10 million to 100 million SHIB wallets since June 4, implying substantial accumulation by these SHIB wallets.
Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.