Wednesday, February 1, 2023
HomeCrypto NewsShiba InuShibarium Update Hints Increase SHIB Trading Volume by 28%

Shibarium Update Hints Increase SHIB Trading Volume by 28%

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The cryptocurrency market has experienced some of the most disastrous declines in 2022. From the fall of the Terra empire in May to the most recent fall of the FTX empire, those empires perceived by the outside world as being robust collapsed in a matter of days.

As soon as the CPI numbers were released, the market’s downward trend in cryptocurrencies reversed. Most currencies, including meme currencies, are now trading favorably. The market exhibited signs of a protracted, ongoing bear market, so the rally was only fleeting.

The trading volume of SHIB increased by 28% earlier yesterday, according to data from Nomics. This is likely because lead Shiba Inu developer Shytoshi Kusama has hinted at a Shibarium update.

Read Also: Shiba Inu Giveaway Announced by Uquid for the FIFA World Cup

Is the Shiba Inu Community in for a Christmas Surprise?

Kusama’s Twitter bio was recently changed from a dot to “On the 1st day…my true love gave to me…”, and the SHIB community has already begun to decode it. Lines from the song “The Twelve Days of Christmas” appear in the bio.

The change in the bio has most likely been interpreted as a significant update about Shibarium by Christmas. Shibarium was supposed to be released by the end of the year, according to previous hints. This is most likely a precursor, as many predicted.

In other SHIB news, according to Shibburn data, the burn rate has dropped by 90% in the last 24 hours. The previously spiking trading volume has also reversed course. According to CoinMarketCap data, the 24-hour trading volume of SHIB has decreased by 50%.

Related Article: Leading Shiba Inu Developer Indicates Updating the Whole Ecosystem Rather Than Just Shibarium

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