It is no longer news that the Shibarium was poised to become the game changer in the Shiba Inu ecosystem, especially concerning cutting down SHIB’s massive coin supply. 

Notedly, the Shibarium was designed in a manner in which it could burn SHIB tokens for every transaction on the network. This was made possible by deploying BONE tokens as the gas fee on the layer-2 scaling solution.

Read Also: Shiba Inu Team Urges SHIB Holders to Move Their Assets to Shibarium. Here’s why

However, recent happenings hovering around the Shibarium seem to be deviating from the initial hype associated with the network, making the crypto community, especially the SHIB Army, wonder if the Shibarium was really the solution to SHIB’s massive supply. 

At the time of writing, the daily transaction rate recorded on the Shibarium was 16.61k. This value represents a significant decline of about 91.8% from the 202.83k recorded on the date stated earlier in this news report.

A Close Look At Shibarium Transaction Statistics So Far

Shibarium became one of the most talked about topics in the crypto sphere after it went live in mid-August. However, its release met with some glitches in the form of massive traffic that made it stop producing blocks.

The network technology finally went live again for the second time in late August, and it has since been functioning perfectly.

At the end of August, it was reported that Shibarium helped to incinerate 5.7 billion SHIB tokens. The said figure did not go down well with most SHIB enthusiasts, as most expected more from Shibarium. 

However, sentiments about the network being in its early phase and requiring more time to become a strong force succeeded in restoring faith in the technology.

September started on a good note. Shibarium’s daily transaction graph followed a steady growth, recording impressive figures even up to hundreds of thousands of transactions for successive days. 

Shibarium kept registering remarkable daily transaction figures up to September 14, when it recorded 183.76k transactions. After September 14, the numbers started dropping drastically. September 15 witnessed a drop of 48.8%, as it registered just 89.66k trades. 

Since September 15, 89.66k remains the highest value recorded, while 16.46k transactions recorded on September 23 were the least. It is left to see if there will be an improvement anytime soon.

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Read Also: Shiba Inu (SHIB) Developer Releases Important Updates about Shibarium Network

Why the Massive Plunge?

One of the major factors of the notable decline is that Shibarium has possibly been facing a drop in adoption for the past few days. As earlier mentioned, it’s too early to judge.

However, if nothing happens to improve the decline, it could have a generalized effect that would be bad for SHIB, particularly concerning efforts aimed at reducing SHIB’s massive supply.

Meanwhile, Lucie, a member of the Shiba Inu development team, has assured the Shiba Inu community that the Shibarium is undergoing some developmental repairs and will come back stronger. 

Lucie tweeted, “Shibarium will soon demonstrate its strength and stability, with significant developments occurring behind closed doors.”

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According to Lucie, the media coverage of SHIB is mainly organic, with publications choosing to prioritize the project due to the high demand from readers. She added that even skeptics find the SHIB ecosystem undeniably attractive and therefore want to stay informed about its latest developments.

Read Also: Shiba Inu Team Urges SHIB Holders to Move Their Assets to Shibarium. Here’s why

Moreover, the marketing strategist sees the organic media coverage as an opportunity to generate greater public interest in Shiba Inu. Lucie recommends that every cryptocurrency investor consider holding at least 10 million SHIB since the spotlight on SHIB leads to increased demand, which ultimately drives adoption and growth.

The silliest stupid rumor about $SHIB!

Some claim that articles are paid for – Not true!$SHIB gets mentioned because it's what people want to read. News portals thrive on clicks and engagement due to their ads. They won't cover projects no one's interested in.

The Shiba…

— 𝐋𝐔𝐂𝐈𝐄 | Shibarium (@LucieSHIB) September 21, 2023

Latest Developments Driving Interest in the SHIB Ecosystem

Despite the ongoing bear market in the cryptocurrency space, Shiba Inu has managed to maintain a strong social presence, thanks to several upgrades and features introduced by the project. One significant development is the recent launch of Shibarium, an Ethereum-based layer-2 network.

Read Also: Shiba Inu (SHIB) Price for October 1 Predicted by Machine Learning Algorithm

Within less than a month since its launch, Shibarium has processed an estimated three million transactions and attracted over two million new wallets. This achievement has also resulted in an increased number of staked BONE assets, as validators must accumulate and stake the token to process transactions and receive block rewards.

While these developments have yet to significantly impact the price of SHIB, which remains more than 91% below its previous all-time high, Lucie and the SHIB community remain optimistic. They believe that these upgrades will establish a solid foundation for the project to thrive once the bull market resumes.

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With several recent developments and hints from key figures, the Shiba Inu community eagerly awaits the forthcoming revelations regarding the role of BAD Idea AI.

BAD Idea AI’s Rise in the Cryptocurrency Market

After its launch in May, the recently introduced project gained significant attention when BAD Idea AI became an official partner within the Shiba Inu family. CoinMarketCap reveals that BAD Idea AI has achieved remarkable growth and now ranks among the top 350 cryptocurrencies.

Further bolstering its presence in the market, BAD was listed on Bitget, the 13th largest exchange globally based on daily trading volume.

Read Also: Shiba Inu (SHIB) Team Says “Big Things Are Coming” with Recent Partnership: Details

SHIB Lead Developer Hints at the Significance of BAD Idea AI

During the Blockchain Futuristic Conference, Shytoshi Kusama, the Shiba Inu lead developer, spoke about BAD Idea AI technology. This sparked high expectations within the community, prompting Kusama to clarify that the expansion of the Shiba Inu ecosystem is still at an early stage. He assured community members that numerous forthcoming developments are on the horizon, including the post-mainnet launch of the layer-2 scaling solution.

Kusama previously emphasized the importance of BAD Idea AI, suggesting that it will play a crucial role during the ecosystem’s second phase.

Upcoming Announcement and Potential Listing

In a recent tweet, Lucie a marketing specialist, revealed that the Shiba Inu team has captivating plans for their partnership with BAD Idea AI. Shytoshi Kusama is preparing to introduce BAD’s pivotal role through a new medium, presenting its unique features and benefits.

Additionally, Lucie hinted at the possibility of BAD being listed on a global exchange, without disclosing the exact platform. It is expected that the BAD community will have the opportunity to vote on integrating BAD with Shibarium, potentially unlocking further opportunities for BAD holders.

$Bad is performing exceptionally well! Despite being just 4 months old, it has already secured a spot in the top 350 on CoinMarketCap.

We have exciting plans ahead for $Bad. The role of BAD will be introduced in a separate Shytoshi medium, where we will delve deeper into its… pic.twitter.com/Cpjtx9vgkz

— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 30, 2023

Read Also: Shiba Inu Strengthens SHIB Ecosystem with New Strategic Partnership: Details

BAD Idea AI’s Impressive Performance

Over the past three months, BAD has outperformed major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). CoinMarketCap data shows that BAD’s price has surged by an impressive 1367.27% during this period. The Shiba Inu community awaits the unveiling of BAD Idea AI’s critical role within the ecosystem.

As BAD continues to achieve remarkable price performance and receives attention from various exchanges, the upcoming announcement and potential listing hold significant promise. As developments unfold, all eyes are on the Shiba Inu team’s plans for BAD Idea AI and the potential impact on the cryptocurrency market.

At the time of writing this, Bad currently trades at $0.00000007243 according to CoinMarketCap.

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By serving as the title sponsor of the conference, Shiba Inu continues to solidify its position as a major player in the world of cryptocurrency. This strategic sponsorship aligns the project with renowned exchanges and other notable initiatives, fostering its growth and influence in the crypto space.

Read Also: Redhill Group CEO Anticipates Shibarium Launch In August, Foresees Shiba Inu (SHIB) Price Rally

The timing of the conference is also significant, coinciding with Shiba Inu’s third anniversary, which is fondly known as “Shibapendence Day.” The star attraction of the event will undoubtedly be Shibarium, which is sure to capture the attention of attendees.

Shibarium promises a thrilling multi-month hackathon that will allow participants to explore its numerous functionalities. In addition to this, two dedicated booths, a VIP cabana, and a variety of Shib-themed products, platforms, and services will be showcased, creating a vibrant and immersive experience.

While Shytoshi Kusama will attend the conference virtually, he will deliver a keynote speech sharing insights into the vision and objectives of Shibarium. Attendees can look forward to gaining valuable knowledge about this exciting initiative directly from the lead developer himself.

Read Also: Shiba Inu Lead Developer: I’m Not Playing Around, Shibarium is Near Completion

In addition to Shibarium, the Shiba Inu team plans to unveil the completed World paper during the Blockchain Futurist Conference. They will also announce new collaborations with partners like Unification and BadIdea.Ai.

One of the most significant announcements at the conference will be the introduction of the Shib Doggy DAO Foundation. Acknowledging the importance of governance, Shytoshi Kusama emphasizes the need for a robust system.

To achieve this, the Shib community’s governance structure will be divided into four separate DAOs. Each DAO will be responsible for governing specific aspects of the Shiba Inu ecosystem, ensuring fair decision-making power and equal representation for all members, thus strengthening the long-term sustainability and resilience of the community.

Shibarium’s Positive Impact on the Crypto Landscape

As Shibarium prepares to make its grand debut at the Blockchain Futurist Conference, excitement is building within the crypto community. This innovative project not only showcases the technical prowess of Shiba Inu but also offers a vision for a sustainable and thriving crypto ecosystem.

With its emphasis on governance and community participation, Shibarium sets a new standard for inclusivity and democratization. By dividing the governance system into separate DAOs, Shiba Inu ensures that every member has a voice and can actively contribute to the project’s direction.

Read Also: 5 Trillion Monthly Burns Target: Shiba Inu Team Reveals How Shibarium Will Boost SHIB Burns

Shibarium’s launch at such a prominent conference highlights its potential to drive real-world adoption and inspire other projects to prioritize community engagement. This milestone achievement further solidifies Shiba Inu’s position as an influential player in the cryptocurrency space.

As attendees explore the functionalities of Shibarium during the conference’s multi-month hackathon, they will witness firsthand the innovative solutions it brings to the table. This critical event marks an exciting chapter for both Shiba Inu and the broader crypto landscape, as the project’s forward-thinking approach paves the way for a more sustainable and interconnected future.

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