Both meme coins Pepe (PEPE) and Shiba Inu (SHIB) have experienced significant losses of over 20% in the past week, with PEPE dropping 22% and SHIB falling 21.6%, possibly due to the troubled launch of the Shiba network's layer-2 blockchain, Shibarium. Additionally, Bitcoin and Ethereum have also seen declines after news of Evergrande's bankruptcy filing.
Swiss-based company Tangem announces the availability of a new batch of cold Shiba Inu wallets, allowing users to store over 6,000 cryptocurrencies and conduct transactions through smartphones. Additionally, a significant amount of SHIB tokens is being transferred by whales, taking advantage of the price drop, while the SHIB community burns over 1 billion tokens.
Shiba Inu (SHIB) has seen a 4% increase in the past 24 hours following the announcement of Shibarium's impending relaunch, showcasing the project's potential beyond its meme coin origins.
Investors need various amounts of money to purchase different quantities of Shiba Inu (SHIB) tokens at the current price, with 1 million tokens costing $8.25, 5 million tokens costing $41.25, 10 million tokens costing $82.5, 50 million tokens costing $412.5, and 100 million tokens costing $825.
The popular meme coin Shiba Inu (SHIB) is experiencing a resurgence in price, potentially signaling a second round of significant movement, while the outcome of the upcoming SEC appeal against Ripple could greatly impact the price trajectory of XRP, and Ethereum is showing signs of potential recovery with a bounce in price from its recent decline.
Despite the launch of the Shibarium Layer 2 protocol being abruptly halted for repairs, the majority of Shiba Inu (SHIB) investors find themselves in significant losses, with 74% of SHIB holder addresses in the red and a total of 951,320 addresses trapped in losses.
Shiba Inu (SHIB) is predicted to continue on a bearish path until the end of the month, but there are expectations of a rise towards the end of August and potential growth in prices with increased adoption and the introduction of a new burn mechanism.
A newly-born whale has acquired $9.37 million worth of Shiba Inu (SHIB) following the relaunch of the Shibarium Network, propelling the wallet to the 52nd spot among the largest SHIB holders globally.
Shiba Inu's Shibarium is now live and running smoothly, with the beta testnet explorer receiving an updated interface and new features; Pantera Capital predicts Bitcoin's price could reach $148,000 after the next halving; an interesting pattern on the Ethereum price chart suggests a potential increase in value.
The relaunch of Shiba Inu's layer-2 scaling solution, Shibarium, has attracted over 50,000 wallets and caused a rally for Bone ShibaSwap, resulting in a 6.6% increase in one day for the altcoin.
Shiba Inu's offspring token, ShibaSwap Bone (BONE), has seen a bullish stride with a 13.8% increase in the weekly charts, attracting a significant rise in holders, while Shiba Inu (SHIB) struggles to keep up with a 4.4% decrease in the weekly charts and a majority of holders currently facing losses.
Shibarium's fast transaction speed and the burning of SHIB tokens could lead to a potential breakout for the Shiba Inu token, while Bone ShibaSwap has seen a significant amount of tokens staked, indicating user confidence and potential rewards.
Despite the growth of Shiba Inu's Shibarium, the price of SHIB has remained down, while LEASH has outperformed with a 7% gain over the last week.
Around 77% of Shiba Inu addresses are currently in a loss, with only 12% in profit, indicating that the majority of holders would face losses if they sold their SHIB tokens at the current price. Additionally, there has been a decline in new active addresses in the past week, stagnation in the growth of Shiba Inu addresses, and a negative sentiment observed in the Shiba Inu Telegram group. Retail investors hold approximately 36% of SHIB token supply, while large investors and whales hold varying proportions.
Shiba Inu (SHIB) is predicted to potentially fetch 6x to 7x returns for investors in the next few years, with an estimated rise in value from $0.000007557 to $0.0000565 by 2030, according to analysis by DigitalCoinPrice.
The recent increase in network activity on the Shibarium Layer-2 network and the corresponding rise in the SHIB token burn rate could potentially impact Shiba Inu (SHIB) prices positively, potentially triggering an increase in demand and a rebound in prices.
Shiba Inu ($SHIB) whale transactions have increased by 229% in a week, Borroe.Finance ($ROE) offers instant loans with advanced technology and has gained investor support, while Arbitrum ($ARB) faces price challenges despite its dominance in DeFi.
ChatGPT predicts that Shiba Inu (SHIB) could reach $0.9 within 6 to 12 months if there is a surge in positive sentiment, new partnerships, and increased adoption, and within 1 to 2 years if the cryptocurrency market remains bullish and user interest continues, potentially driving the price to $0.9 within 3 to 5 years if SHIB's ecosystem expands significantly.
