As the crypto world today is celebrating The Merge, many crypto enthusiasts and analysts believe that the Ethereum (ETH) switch to Proof of Stake (PoS) will have a positive impact on the global crypto market. The Merge is especially important for cryptocurrencies based on the Ethereum (ETH) blockchain.
According to WhaleStats, there’s increased whale activity on the top memecoin Shiba Inu (SHIB). Currently, the TOP 100 Ethereum (ETH) whales are still actively accumulating the Japanese dog-themed coin, with over $153 million worth of Shiba Inu (SHIB) in their wallets.
The top 100 #ETH whales are hodling$145,441,075 $SHIB$102,487,635 $BIT$53,937,264 $LOCUS$40,860,524 $MOC$39,994,084 $BEST$38,586,298 $UNI$38,254,448 $MKR$36,440,781 $MANAWhale leaderboard https://t.co/N5qqsCBeXR pic.twitter.com/tMqSxtJymr— WhaleStats (tracking crypto whales) (@WhaleStats) September 14, 2022
Moreover, The Merge’s success can positively influence Shiba Inu (SHIB) in a couple of ways. Firstly, the SHIB Army is patiently waiting for Shibarium, which is a Layer-2 upgrade to the Shiba Inu (SHIB) Ecosystem. As it’s based on Ethereum (ETH), it will lower transaction fees as well as make them faster.
Furthermore, social influencer Lucie Sasinkova emphasized the importance of ETH 2.0 referring to the second largest blockchain as “the land on which the #Shibarium is built”. The Shibarium, which will bring significantly more utility for the canine token, is scheduled to launch by the end of Q3 of 2022.
Ethereum is like the land on which the #Shibarium is built. So yes, the merge is important to us.. #EthereumMerge $SHIB $LEASH $BONE pic.twitter.com/vO8VRhsSan— ♛ Lucie Sasínková ♛ (@GossipShib) September 14, 2022
Shiba Inu (SHIB) Is Enjoying Increased Burning Activity
Lately, Shiba Inu (SHIB) has seen increased burning activity. Many members of the SHIB Army choose to set fire to their beloved meme token, because of an improved reward system. Some are motivated by the fact that Shiba Inu (SHIB) is more likely to eat another zero if more $SHIB tokens are removed from the circulating supply.
According to Shibburn, there’s been over $31 million Shiba Inu (SHIB) coins set ablaze in the past 24 hours. On top of that, Shibburn, the official bonfire of the Shiba Inu (SHIB) community, has announced that the iOS and Android versions are coming soon. Besides, Shibburn has their own radio – the Shibburn Radio, which is currently only available online. However, there’s going to be a separate app for Shibburn Radio, as well as a dedicated studio in New York.
We just submitted the Alexa Skill for Shibburn Radio. In a few hours we will submit the station's app for iOS and Android for approval. The long-awaited app for Shibburn (main app) is also on it's way. Stay tuned! pic.twitter.com/4wMTUXhRgt— Shibburn (@shibburn) September 14, 2022
- Despite ‘The Merge’ successfully launched, it is yet to reflect on Shiba Inu’s (SHIB) market price.
- At press time, Shiba Inu (SHIB) trades at $0.00001205, according to CoinGecko.
- That’s a slight 0.2% hourly decrease. In addition, the canine coin is 2.4% in the red for the last 24 hours.
Why You Should Care
Shiba Inu’s main rival, Dogecoin (DOGE) sent congratulations to Vitalik Buterin on completing The Merge. As both memecoins are next to each other in the crypto TOP 20 by market cap, the Merge can ignite a bull run for both dog-themed tokens.
Read more stories about the latest developments of Shiba Inu (SHIB):
Shiba Inu (SHIB) Presents Fireside Chats on Discord as SHIB Burn Rate Intensifies
Find out what’s happening with the SHIB’s arch nemesis, Dogecoin (DOGE):
Musk Whistleblower Draft: Dogecoin (DOGE) Exclusive Cyberwhistle Sells Out in Minutes