On September 23, Whale Alert reported a transfer of over 4 trillion Shiba Inu (SHIB) coins, worth $33.38 million, from Bitvavo exchange to an unknown wallet. The transfer has sparked market speculations, with theories ranging from a potential sale to a whale redistributing their cryptocurrency holdings. However, the true nature of the transfer remains unknown. In the last 24 hours, 247,753,783 SHIB tokens were burned through a dozen transactions, elevating the overall burn rate by 35.88% from yesterday. The Shiba Inu price was trading at $0.000007356, noting a surge of 0.80% in the last 24 hours.
Shiba Inu's newly launched layer-2 blockchain, Shibarium, has reached over one million wallets since its relaunch on August 28, with nearly 100,000 transactions occurring as of September 3. However, the total value locked (TVL) on the network remains low at $1.06 million, indicating that users are only deploying small amounts of capital.
OKCoinJapan has announced that it will list new tokens, including Polygon-based Shiba Inu (SHIB). The platform will support the Polygon variant of DAI SHIB tokens for trading starting from September 7. This move shows OkCoinJapan's commitment to supporting the Shiba Inu memecoin and its ecosystem. <br>
Shibarium, a layer-2 blockchain for Shiba Inu, has exceeded 100,000 wallets on its platform, with 35,000 added within 24 hours of its relaunch on August 28th. The lead developer and co-founder of Shiba Inu, Shytoshi Kusama, confirmed the relaunch and noted that Shibarium had 65,000 wallets across 350,000 transactions.
Shytoshi Kusama, the lead developer of Shiba Inu, has announced the reopening of the L2 network to the public after successfully scaling Shibarium. Kusama expressed his gratitude to Polygon, Unification, and other developers for their support during the mainnet down situation. Shibarium has accumulated over 65,000 wallets and 350,000 transactions, and its mainnet has been producing blocks since August 24.
Altcoins, including Shiba Inu (SHIB) and Litecoin (LTC), have faced correction this month alongside Bitcoin, but there are signs of recovery. Despite the Shibarium launch experiencing major issues, over 2 trillion SHIB tokens have been withdrawn from exchange wallets in the past week, potentially leading to a supply squeeze and impacting SHIB's price.
Shibarium, the layer-2 blockchain network of Shiba Inu, has resumed producing blocks after a temporary shutdown due to high traffic. The lead developer confirmed that the funds are safe and there are no issues with the bridge or chain.
Voyager Sells Millions Worth of Crypto Assets, Including 1.4 Trillion SHIB, on Coinbase Amid Bankruptcy Process: On-Chain Data
Crypto lender Voyager is selling off its Shiba Inu holdings as it liquidates millions of dollars worth of assets on Coinbase. The company has sold 49 different tokens on the platform, with Shiba Inu making up almost 23% of the total sale.
Shiba Inu's SHIB tokens experienced a 9% drop in value due to bridging issues reported by users after the launch of the Shibarium network. Transactions on the network were stalled for at least five hours, and attempts to add the network to a commonly-used crypto wallet failed.
Shiba Inu has launched the Shibarium mainnet, which is an Ethereum L2 scaling solution. Shibarium will utilize Heimdall validators and Bor block production nodes, similar to the Polygon ecosystem. Heimdall will be based on the Tendermint consensus engine, while Bor will be fully interoperable with the Ethereum Virtual Machine. <br>