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.
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.
Shibarium, the Layer 2 protocol for Shiba Inu, is almost ready for reopening after experiencing initial technical issues, according to lead developer Shytoshi Kusama; a pro-XRP attorney states that the SEC lawsuit has caused significant damage to Ripple and XRP's adoption, delaying their progress by three years; scammers are targeting the Shiba Inu community with fake accounts and fraudulent links.
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 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A massive amount of Shiba Inu meme coins, totaling 708 billion SHIB, was withdrawn from Gemini and transferred to an anonymous wallet, suggesting a reshuffling or potential sale of holdings by the anonymous whale.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.
Mysterious Whale adds $6 million worth of Shiba Inu to her portfolio, accumulating a total of 5.37 trillion SHIB tokens in the past seven days, as the cryptocurrency gains attention following the launch of Shibarium and ranks as the third most trending cryptocurrency globally.
Shiba Inu investors can become multi-millionaires if the cryptocurrency reaches certain price levels, such as $0.0001, $0.001, $0.01, or $0.1, with different amounts of tokens needed to reach $10 million at each level.
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.
Popular exchange Bitstamp has highlighted the upcoming relaunch of Shibarium as one of the top three crypto trends of the week, following the blockchain project's technical issue during its initial launch.
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 price of Shibaswap Bone (BONE) has increased by nearly 20% in seven days, defying the bear market trend, as activity on the relaunched Shibarium Layer 2 blockchain boosts transaction volumes and new addresses.
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.
The Shiba Inu blockchain, Shibarium, is ready for its public (re)launch after resolving initial issues, and Everlodge is selling out of its presale as it aims to democratize fractional ownership of vacation rental properties through blockchain and NFTs.
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.
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.
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.
The search interest in Shiba Inu in India has been high, indicating that people in the Indian community are closely monitoring this asset and considering investing in it, according to data from Google Analytics and a survey conducted by ConsenSys.
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's Shibarium has partnered with fast food franchise Welly to bring transparent and incentivized dining experiences using blockchain technology, with plans to expand globally; the collaboration will be discussed at Benzinga's Future of Digital Assets conference on Nov. 14.
