Shytoshi Kusama, the pseudonymous co-creator of Shiba Inu, praised the recent peak in transactions on Puppynet's Shibarium testnet, which surpassed 31 million transactions. Kusama left a celebratory emoji in response to the news. The average daily transaction count on Puppynet is 256,340, according to Puppyscan. Kusama also issued a warning to the Shiba Inu community about the security of their digital assets, advising them to only buy cold wallets directly from producers to avoid scams and hacks.

Shiba Inu plans to launch "Shib: The Metaverse" by the end of 2023, creating a virtual space where users can interact through digital avatars. The metaverse will be built on Shibarium's L2 network and offer 100,595 virtual land plots, allowing landowners to earn passive income and in-game resources. SHIB and Bone ShibaSwap tokens will be widely used in the ecosystem, with SHIB tokens used to purchase plots and add images/logos. Four hubs, including Wagmi, Rocket Pond, Ryoshi, and Tech Trench, are expected to be revealed in September 2023. Shiba Inu aims to move away from the "memecoin" label through projects like Shibarium and the metaverse. However, it remains to be seen if these efforts will lead to greater participation both within and outside its ecosystem. Currently, SHIB is trading at $0.0000078, showing a 0.41% decrease in the last 24 hours.

Ethereum has entered an ascending price channel, which could indicate a bullish trend if it follows previous patterns. However, the recent breakdown from the $2,000 level may apply downward pressure on ETH. The Relative Strength Index (RSI) is hovering around the neutral 50 mark, but maintaining its level above 50, implying a potential uptrend. Meanwhile, Shiba Inu (SHIB) is experiencing a rapid reduction in volatility, potentially leading to an increase in selling pressure. On the other hand, Pepe (PEPE) has touched its local low and is resting on a 50 Exponential Moving Average (EMA) line, suggesting a potential price boost.

The governance token of the Shiba Inu ecosystem, Bone ShibaSwap (BONE), has been listed on Changelly, a major instant crypto exchange. This comes ahead of the anticipated launch of the Layer-2 blockchain Shibarium in August, which will allow the Shiba Army to vote on proposals through the Doggy DAO. Traders responded positively to the news, with the price of BONE jumping 5% in the past 24 hours.

Shiba Inu (SHIB), a popular meme coin, has seen a minor uptick in its burn rate feature, with more than 179 million SHIB tokens sent to dead wallets in the past 24 hours, representing 113% growth.

According to data from IntoTheBlock, Shiba Inu's billionaire addresses, which hold 100 billion to 1 trillion SHIB, have increased their holdings by 20% over the past 30 days. The increase in holdings is being seen across different tiers of holders.

Whale Alert has reported a massive transfer of Shiba Inu coins worth over $18 million from Binance.US to an anonymous wallet. Despite the upcoming launch of its Layer 2 blockchain, Shibarium, SHIB has dropped to 20th place by market cap.

Tangem's official Twitter account has announced the upcoming launch of the highly anticipated Shiba Inu wallet, with early customers able to purchase the wallets as early as next week. The partnership between Tangem and Shiba Inu was first revealed in May, with the wallet promising to simplify crypto management by merging with users' smartphones.

Welly, a top partner of Shiba Inu, has confirmed its attendance at the Blockchain Futuristic Conference in Toronto, where Shiba Inu is the official title sponsor. The conference, scheduled for August 15-16, has generated high anticipation within the Shiba Inu community.

Investors in Shiba Inu cryptocurrency are being warned of an increase in fake support accounts and counterfeit tokens on Twitter. The ShibArmy community is being urged to remain vigilant and report any suspicious activity. The fraudulent accounts aim to deceive unsuspecting investors and cash in on the popularity of Shiba Inu.

Shibarmy Scam Alerts has warned of a scam token called UNLEASH that claims to be related to the Shiba Inu ecosystem and its Layer 2 blockchain Shibarium. The deployer of UNLEASH has no affiliation with the Shiba Inu developer team, and SHIB fans are advised to stay away from scam tokens or those claiming to belong to SHIB.

The Shiba Inu development team is preparing for the launch of Shibarium, a layer-2 scaling solution that is highly anticipated by the community. The team has announced the "Summer of Shibarium," a phase leading up to the mainnet launch of Shibarium in August.

In the past week, nearly 1 billion SHIB tokens were burned, with 915,371,832 tokens burned in 139 transactions. However, the daily burn rate has decreased by 91.59% in the last 24 hours, with only 1,233,806 tokens burned.

Shiba Inu (SHIB) is showing resilience in the face of market volatility by maintaining a price above its local resistance level of approximately $0.000008. This stability is a positive sign for SHIB's investors, especially considering the recent market reversal.

Shibarium's testnet "Puppynet" has achieved another milestone with almost 30 million transactions. This indicates an increase in demand for the chain and a potential boost in the prices of SHIB and Shibarium's gas token Bone ShibaSwap in the long term. The number of wallet addresses has also increased to 17,061,835, and the blockchain remains stable with an average block time of 5-7 seconds and a gas fee near 1 Gwei. The transactions rate and wallet addresses are expected to rise with the release of Shibarium's Worldpaper, all Shibarium partners, and TREAT token during the Blockchain Futurist Conference in August.

Shibburn has caught the attention of the Shiba Inu community by proposing a counteroffer to MrBeast's challenge, which involves burning SHIB with MrBeast's revenue. MrBeast offered to give his entire Twitter revenue for the upcoming month to the person with the most liked reply to his tweet within 48 hours. Shibburn responded with a proposal that if they win, MrBeast must send the revenue as $SHIB to Shibburn.eth so they can burn it. Shibburn's tweet has gained 547 likes and 51.4k views, while 16,205,792 SHIB tokens were burned in the past 24 hours in just seven transactions.

Bitcoin reached a new 13-month high of almost $32,000 before being rejected and falling below $30,000. Most altcoins are also experiencing losses except for DOGE, SHIB, and OP. Ripple's native token, XRP, experienced significant gains after a judge ruled in favor of the blockchain company in its legal battle against the SEC, but has since retraced. The total crypto market is down by over $30 billion since yesterday.

The Shiba Inu team has rebranded the official SHIB token website and other Shiba Inu-related websites ahead of the mainnet launch of Shibarium. The lead developer, Kusama, announced the rebranding and urged community members to check out the new looks.

Shiba Inu (SHIB) has achieved a market capitalization of over $4.4 billion, making it the 18th largest cryptocurrency. In the past month, SHIB's market cap has increased by approximately half a billion dollars, indicating rising investor confidence.

The largest holder of Shiba Inu (SHIB) tokens, known as "0x1406," has distributed 4 trillion SHIB tokens worth $29.8 million to 8 new wallets after 157 days of dormancy. This move may be in response to the upcoming release of the Shibarium mainnet and "Worldpaper" by Shiba Inu lead developer Shytoshi Kusama.