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.
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.
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.
American music artist and Backstreet Boys member, Nick Carter, showed interest in the cryptocurrency Shiba Inu (SHIB/USD) in April 2021, expressing excitement about its performance and potential gains.
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.
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.
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.
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.
Shiba Inu's scaling solution Shibarium is now live and functioning well, allowing users to withdraw SHIB, WETH, LEASH, and BONE tokens with withdrawal times ranging from 45 minutes to 7 days.
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.
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.
