The test version of Shibarium, called Puppynet, has reached new milestones and set records with over 32 million transactions, while the number of wallets connected to Puppynet has been updated downward; meanwhile, Shibburn explorer reports that close to 100 million SHIB tokens have been burned in the last 24 hours.
Shiba Inu (SHIB) price has dropped by 23% in the last week due to technical issues with the Shibarium L2 launch and concerns of potential exploitation risks, causing holders to reduce transactional activity; however, trading activity suggests a potential bullish reversal with strategic traders piling up purchase orders, indicating market demand for SHIB, and the price may consolidate around $0.000008 before another breakout.
Shiba Inu's layer-2 network, Shibarium, is set to relaunch to the public following the resolution of issues that caused its initial shutdown, with enhanced features implemented to handle future traffic spikes and plans for the addition of more validators.
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.
Shiba Inu's layer-2 scaling solution, Shibarium, is set to reopen to the public after resolving technical issues caused by a high influx of users and transactions.
Shibarium, the Shiba Inu Layer 2 solution, is preparing to go public with exciting updates and enhancements, including a new monitoring system, additional fail-safes, and a revamped testnet explorer called Puppyscan.
The Shibarium community, known as Shib Army, is excited about the progress of the blockchain technology platform and its upcoming public launch, which has undergone thorough testing and implemented safety measures to provide users with a smooth and dependable experience.
A massive amount of Shiba Inu meme coins, totaling 708 billion SHIB, was withdrawn from Gemini and transferred to an anonymous wallet, suggesting a reshuffling or potential sale of holdings by the anonymous whale. Additionally, the SHIB community continues to burn millions of tokens in an effort to reduce the circulating supply and potentially increase the value of the coin.
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) could potentially reach $1 per token within the next 5-10 years if it achieves mainstream adoption, high developer engagement, and regulatory support, according to a forecast from ChatGPT.
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.
Shiba Inu's layer-2 blockchain Shibarium has seen a significant increase in interacting wallet addresses, surpassing 48,000, and has achieved positive results in transaction count and block production, recording its highest daily transactions at 100,905.
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.
The SHIB community has successfully burnt 350 million Shiba Inu coins, locking them in unspendable wallets, in an effort to reduce supply and potentially increase its value, as the launch of the Shibarium Layer-2 blockchain approaches.
Shibarium, the scalable and decentralized solution for Shiba Inu, has launched in private mode, attracting new users and showing significant growth in wallet addresses and transactions on the blockchain.
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.
Token withdrawals from the Shibarium bridge are now available to users after a troubled launch, with developers implementing measures to prevent future outages and working with Polygon blockchain developers to address potential issues.
Shibarium, a layer-2 blockchain developed by the Shiba Inu team, has reopened fund withdrawals on its bridge to Ethereum, allowing users to move assets between the two networks.
A Shiba Inu whale moves trillions of SHIB tokens after the project's layer-2 scaling solution, Shibarium, is brought back online, following technical difficulties and an influx of users.
The Shibarium network, which faced a problematic launch due to software bugs and resulted in millions of dollars in limbo, is now showing signs of resilience as 600,000 wallets and over 700,000 transactions have occurred on the platform, with token withdrawals now available to users.
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.
