TL;DR
- Shifu, a new meme coin in the Shiba Inu ecosystem, has a total supply of 100 billion tokens, with 30% allocated for a community airdrop.
- Despite the effort, SHIB’s valuation remains stable at $0.00002733. However, a 240% surge in large transaction volume and Shibarium’s rapid progress could boost the asset’s utility and drive future price increases.
The Terms and Conditions
Shifu – a new meme coin project introduced by the Shiba Inu ecosystem – launched an airdrop exclusively for the SHIB community.
The total supply of SHIFU is 100,000,000,000 coins. The project revealed that 30% of that amount will be allocated for the community airdrop, with 50% unlocked during the Token Generation Event (TGE) and the rest released in the next four weeks. The team will require a snapshot from eligible users, but the final deadline has not yet been announced.
It is important to note that 22,000,000,000 SHIFU tokens will be distributed to some of those holding at least 100,000 SHIB and 100 BUBBLE.
2,000,000,000 SHIFU will be allocated to eligible LEASH holders, while lucky BONE owners will receive 1,000,000,000 SHIFU. The remaining 4,000,000,000 tokens are meant to reach the BUBBLE community.
The team added that 70% of the total supply (70 billion SHIFU) will be distributed for other purposes. 40 billion tokens will go to the “liquidity and public pre-sale” section, 20 billion will reach treasury, whereas 10 billion will fund marketing initiatives.
SHIFU is a dog-themed meme coin that has yet to go live. Earlier this month, the popular X user Lark Davis described it as “the master of all,” highlighting its legitimacy due to its connection with Shiba Inu’s developers.
SHIB Price Outlook
The announced airdrop seems to have caused little-to-no price volatility for the second-largest meme coin. SHIB is up a mere 1.5% in the last 24 hours, currently trading at around $0.00002733. Its market capitalization remains hovering at approximately $16 billion, making the asset the 15th-biggest in the entire crypto sector.
On the other hand, some important metrics suggest that Shiba Inu may experience a much more substantial increase in the near future. One of those is the large transaction volume (where each SHIB transaction is greater than $100,000).
According to IntoTheBlock, the figure has soared by 240% on a daily scale, reaching $175 million. Such a spike might be interpreted positively by traders, driving further demand for SHIB and pushing the price upward.
Shibarium’s progress is also worth mentioning. The layer-2 scaling solution has been processing millions of transactions in the past several days, blasting through numerous milestones. Shibarium’s advancement can have a notable impact on SHIB’s valuation due to its role in improving the utility, adoption, and efficiency of the entire ecosystem.
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