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Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U. Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
The pseudonymous leader of the Shiba Inu team known on social media as Shytoshi Kusama has taken to the Twitter/X network to address the SHIB army with an encouraging tweet.
Major developer Kaal Dhairya has done likewise. These enthusiasm-provoking tweets come as the SHIB meme coin has printed an astounding surge of 38.87% today.
Both Kusama and Dhairya have published an animated GIF to send the SHIB community an encouraging call — “LFG!” (a popular acronym on Twitter/X meaning “let’s freaking go”).
These tweets were published as the second-largest meme cryptocurrency by market cap, SHIB, has skyrocketed by a staggering 38% today. A slight rebound followed that rise, but SHIB remains above the $0.00002 level, changing hands at $0.00002153 at the time of this writing.
The increase printed by this popular meme crypto over the last 24 hours is mind-blowing — 71.53%. Over the past week, SHIB established massive growth of 125.51%. SHIB has been following the recent Bitcoin rise as the world’s leading cryptocurrency skyrocketed to top the $64,000 level earlier this week amid the increasing BTC purchases made by spot Bitcoin ETF providers.
According to data provided by the Shibariumscan explorer, the Layer-2 network built by the SHIB team on Ethereum has reached a massive utility milestone. Its overall transaction count has surpassed the 390 million level, now sitting at 390,852,737.
As for the daily transaction level, it continues to move in the 2.5 million range, occasionally rising and falling. This is a 2x decline since Feb. 20 and 22, when this metric reached a peak of 4.21 million and 3.93 million daily transfers.
Earlier this week, the SHIB community set up a petition on the change.org platform urging Grayscale to launch a Shiba Inu-based exchange-traded fund. Within the past week, this document has gathered 3,120 votes, leading it to the first goal of 5,000 votes.
Grayscale is one of the companies that have launched a Bitcoin ETF recently. Grayscale has finally managed to convert its Bitcoin Trust into a spot BTC fund that tracks down the Bitcoin price and allows investors to profit from its movements.