Significantly, this rug pull perturbed Shibarium and its parent memecoin, Shiba Inu (SHIB). According to sentiment analytics from Santiment, the rug pull led to a palpable decline in investor sentiment towards SHIB. Additionally, the price of SHIB suffered a sharp drop, adding more stress to an already edgy investor base.
Troubling Times for Binance Smart Chain
Coinglass data indicates a spike in short positions, 55.96% of which are against SHIB. Hence, this bearish sentiment might continue to erode SHIB’s market stability. Meanwhile, BSC has seen a decline in activity by 18.3% in the last month, accompanied by a revenue dip of 16.4%, as per data from Token Terminal.
Recommended Articles
Join us in showcasing the cryptocurrency revolution, one newsletter at a time. Subscribe now to get daily news and market updates right to your inbox, along with our millions of other subscribers (that’s right, millions love us!) — what are you waiting for?
Crypto Presale Projects For 2023 To Invest; Updated List
Must ReadBest Crypto Trading Bots List 2023
Must ReadTop Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must ReadCrypto Telegram Channels List 2023 [Updated]
Must ReadTop 10 Web3 Games To Explore In 2023; Here List
Must ReadThe Shibarium rug pull is a cautionary tale since it underscores the fragility of meme ecosystems and the risks of investing in them. Investors should tread carefully, especially in a landscape where sentiment can change swiftly and dramatically.
DogeHome
TheNewsCrypto
DogeHome
CaptainAltcoin
Cointribune EN
DogeHome
Crypto Intelligence
Bitcoin Sistemi EN
DogeHome
