Categories: Uncategorized

SHIB becomes the fifth most popular smart contract on the Ethereum network

It seems that investors are more interested in the coin meme than ever. SHIB’s strong price movement has even attracted skeptics, and the latest data shows impressive results.

The hype surrounding the Shiba Inu dog-inspired cryptocurrency has grown so much that it has established itself as the fifth most popular smart contract on the Ethereum network.

The growing attractiveness of SHIB

According to the latest data from Dune Analytics, Shiba Inu has even outperformed tokens like Uniswap v3 SwapRouter, USDC and WETH.

Source: Dune Analytics

The dashboard also showed that there were over 450,000 unique views for SHIB.

In addition, SHIB is also the seventh largest gas burner in the Ethereum network. This milestone event as a result of increased network activity and gas consumption around the token was recorded by TokenView’s Ethereum Explorer.

Ethereum hit another record high yesterday as new data shows that more tokens were burned than released, like Bitcoin magazine Report. This trend has continued uninterrupted for a week. In other words, the network has just seen a week of net deflation following the London hard fork.

Shiba Inu also contributed to this success. In the past seven days, the meme coin burned a total of 127.15 ETH. The industry giants Uniswap V2 Router and Tether burned 525.28 ETH and 296.6 ETH respectively in the same period.

Thanks to the incredible rally, SHIB has outperformed several large-cap cryptocurrencies, including Dogecoin.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Annie

According to Cryptopotato

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bitcoin, Ethereum, And Solana Lead Crypto Market, But Not For Long With New AI Altcoin With 30,000% Potential, Expert Says

Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) dominate the crypto market, but experts warn that…

2 hours ago

Dogecoin Price Prediction: Will DOGE Ever Hit $0.7 Again? Why ETFSwap (ETFS) Is The Best Alternative For 100x Gains

Discover the future as the Dogecoin price aims for a $0.7 comeback and discover why…

5 hours ago

Step into BlockDAG’s Presale Frenzy This November: Secure a Massive 100% Bonus with BDAG100!

November is the perfect time for BlockDAG's huge presale. Use BDAG100 to double your purchase.…

7 hours ago

OpenSea New Version Will Be Launched In December

OpenSea new version is scheduled to launch in December, with an improved user experience, improved…

7 hours ago

This website uses cookies.