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 Despite the Shibarium launch experiencing major issues, over 2 trillion SHIB tokens have been withdrawn from exchange wallets in the past week, potentially leading to a supply squeeze and impacting SHIB's price.

According to a report by Jinse Finance, approximately 342,020,540 Shiba Inu (SHIB) tokens were burned in the past day, as shared by the SHIB burn tracker Shibburn. It is worth noting that the burn rate of Meme coins has increased by over 300% in the past 24 hours.

According to Whale Alert monitoring data, 4,669,778,173,637 SHIB (worth $38,707,791) was transferred from an unknown wallet to another unknown wallet.

In the aftermath of the failed launch of Shibarium, whale addresses moved a total of $131.57 million in 29 transactions with a minimum of $1 million each. The transactions occurred since August 16, just before Shibarium's official launch, and were gathered on August 18, a day after the reported failure of the protocol.

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.

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.

Data shows at 4:14 pm Beijing time, 4,712,881,590,632 SHIB (worth approximately $43,285,460) was transferred from an unknown wallet to another unknown wallet.

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>

Open interest or the dollar amount locked in open SHIB futures contracts has topped $100 million for the first time since February.

According to Whale Alert monitoring, 4,599,850,345,603 SHIB ($47,994,838) was transferred from an unknown wallet to another unknown wallet.

The Shiba Inu team has hinted at the upcoming release of the Shibarium mainnet, which was confirmed by lead developer Shytoshi Kusama at the Blockchain Futurist Conference and ETH hackathon in Canada. The price of the SHIB token has been steadily increasing in the lead up to the release, while the rest of the crypto market remains stagnant. The Shib Token official Twitter account has teased the launch with a "Soon" comment, and a recent transfer of SHIB to a dead wallet has sparked speculation about how the Shibarium launch will affect the token's price. Traders are eagerly awaiting the release, with the possibility of a 12.8% jump in price if the memecoin breaches $0.0000105.

As monitored by on-chain analyst Yu Jin, an hour ago, Voyager transferred 1,500 ETH ($2.77 million) and 250 billion SHIB ($2.7 million) to Coinbase. In addition, Voyager is consolidating all remaining tokens in its wallet addresses to its main address. The cryptocurrency claims of Voyager users have ended, and the final fiat compensation process should now be underway: selling the remaining cryptocurrencies and compensating users in USD.

According to data from IntoTheBlock, there has been a massive 2,210% increase in inflow from large holders of Shiba Inu in the past week. however , SHIB is currently experiencing a price drop due to profit-taking, with a decrease of 4% in the past 24 hours.

A new whale has made headlines by purchasing over $40 million worth of Shiba Inu (SHIB) in a single transaction, amassing 4.41 trillion SHIB tokens and becoming one of the largest SHIB holders. This impressive feat coincides with SHIB's recent bullish momentum, which has seen the token surge over 25% in price in the past month and break through the psychological resistance level of $0.00001. The chief creator of SHIB, Shytoshi Kusama, has also taken a proactive stance against false information and scams related to the meme coin. Additionally, interest in Shibarium and its potential effects on the SHIB ecosystem is growing, with SHIB showing tenacity by increasing over 9% in the last seven days.

According to analyst Cheds, Shiba Inu's recent surge may be a trap for bullish investors hoping for a reversal in the memecoin's trend. Cheds believes that the rally is occurring within a larger downtrend and that it will likely lead to a short position. The analyst notes that exhaustion is setting in among bulls and that a blow-off top may have been printed on the four-hour chart. However, Cheds' bearish stance would be invalidated if SHIB rallies above $0.00001075.

Shiba Inu, &nbsp;has seen a 100% increase in its burn rate, which has caused speculation about its potential impact on the token's value and long-term prospects. In the past 24 hours, Shibburn reported that 62,987,547 SHIB tokens were transferred to "inferno" wallets, with the largest transaction being 34,547,609 SHIB.&nbsp;

Shiba Inu has achieved a significant milestone by topping LunarCrush's AltRank, which measures social and market activity in the crypto market. With over 200 million social engagements in the last 24 hours, SHIB has outpaced 4,481 other coins to take the first spot. On-chain analytics platform Santiment reports that SHIB has surged 51% in the past four weeks, with trading volume at its highest level since February 6, 2023.&nbsp;

Global marketplace leader YesStyle has partnered with Binance Pay, a prominent cryptocurrency payment gateway, to allow customers to use various cryptocurrencies, including Shiba Inu (SHIB), to make purchases from over 300 beauty brands on the YesStyle platform. This collaboration reflects the growing mainstream acceptance of cryptocurrencies and the evolving preferences of consumers.

Binance, the world's largest cryptocurrency exchange, has announced the addition of 22 new loanable assets and collateral assets to its Flexible Loan and VIP Loan services. Among the new collateral assets are Shiba Inu (SHIB), Compound (COMP), and Theta Network (THETA).