Shiba Inu Might Release its Cold Wallet This Week

Paigambar Mohan Raj
Shiba Inu Lights Japan
Source: Instagram / Nickelpack / Kenta Hayashi

According to prominent Shiba Inu (SHIB) influencer “Lucie,” the SHIB cold wallet storage might release this week. However, Lucie did mention “probably” as there is no official word on the launch. The original message is from Shiba Inu’s Shibarium Discord server, which says,

“For cold wallet part. Update or announcement after few days or earlier if everything goes well.”

The announcement which is planned to happen in the next few days might give further insight into the features of the wallet initiative. According to speculation, some of the features may include enhanced security, Shibarium integration, multi-asset support, and community-driven development.

What fans and users are excited about is the possibility that the wallet launch could spark a positive price action for Shiba Inu (SHIB) which has seen stagnant growth in the last few weeks. Moreover, with the wallet anticipated to launch soon, it is possible that Shibarium’s main net could also go live soon after.

Shiba Inu’s APY skyrockets to 121%

The wallet launch rumors come amid SHIB witnessing a spike in its TVL (total value locked). According to the data on DefiLlama, Shiba Inu’s TVL has reached $1.362 million, with an APY (annual percentage yield) of 121.79% per year.

Source: DefiLlama

The ongoing liquidity issue experienced by Shiba Inu may be one of the causes of the sharp rise in TVL. Offering high APY is a vital component of any cryptocurrency’s success. It can be a way to draw in more liquidity providers.

The recent price decline beneath the crucial $0.000009 mark is another element that could have led to the increase in SHIB’s TVL. A number of position liquidations and the unwinding of open Liquidity Provider (LP) positions may have been sparked by this unexpected price decrease. At press time, SHIB was trading at $0.00000888, down by 1.7% in the last 24 hours.

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