Shiba Inu's native Decentralized Exchange (DEX), ShibaSwap, has experienced a significant decrease in its Total Value Locked (TVL) from $1.75 billion to $25.16 million, indicating a lack of interest from investors. This has led to a decrease in revenue and fees generated, as well as speculation about a liquidity squeeze. On-chain data shows that while retail investors are increasing their SHIB token holdings, larger holders are cutting their balances, possibly due to profit-taking and a lack of confidence in SHIB's future performance. Additionally, SHIB's trading volume has been consistently low, and there has been frequent movement of long-term held tokens, possibly indicating a shift in investor sentiment.

Shiba Inu's performance in May 2023 was lackluster, but on-chain data suggests that the cryptocurrency has been attracting new demand in recent weeks. This is a positive development after Shiba Inu lost market share to other meme coins in early May. The recent launch of Shiba Inu's cold wallet has rejuvenated the network's growth, which could impact the price in the coming days. The increase in new users joining the network and the supply shortage could trigger more price gains, with bulls targeting $0.000011. However, the price could slip into a bearish trend if it drops below the $0.000008 support zone.

Koyo Token has burned almost 152 million SHIB in a single transaction, contributing to a total of 182.52 million SHIB burned in the past 24 hours. This follows a two-month pause in burning activities by Koyo, which had previously permanently removed 1.49 billion SHIB from circulation in April. The Shiba Inu Community has burned a total of 182.52 million SHIB through two separate transactions in the past 24 hours, representing a significant increase in the overall burn rate compared to the previous day.

Shytoshi Kusama, the leader of the Shiba Inu project, has requested direct communication with Hotbit before the exchange shuts down its centralized exchange operations. Kusama aims to explore potential collaboration and address concerns to ensure a smooth transition for SHIB holders using the HotBit platform. This move comes after speculation about a positive update for the SHIB community following Kusama's trip to Japan. Kusama's outreach demonstrates his commitment to prioritizing the interests of SHIB token holders and facilitating a smooth transition for those needing to withdraw their tokens from Hotbit before the June deadline.

Blaze Token has burned a total of 3.60 billion SHIB in the past 24 hours and 11.55 billion SHIB in the past month, with the latest burn being worth $31,621. This marks the fifth time in four weeks that Blaze Token has undertaken such a massive burning of SHIB.

The number of wallets connected to Shiba Inu Shibarium's Puppynet testnet has exceeded 16 million, with network activity and transaction volume on the rise since the testnet's launch on March 11. The increased transaction volume has coincided with a period of high wallet creation, with Glassnode data showing the highest increase in three months on May 26. Shiba Inu's rising network activity has also led to a surge in social metrics, with SHIB among the top 10 coins by social mentions over the past week. The launch of Shibarium's mainnet is expected before the end of the year, which could boost the value of related tokens such as SHIB, BONE, and LEASH.

Despite competition from another meme coin called PEPE, the Shiba Inu (SHIB) token still has a strong and committed community. In the past 24 hours, the SHIB community has increased the burn rate of SHIB tokens by over 1500%, with a single wallet burning 246.7 million tokens. This wallet belongs to the CultPunks team, who have committed to burning SHIB tokens with a portion of their raised funds. Despite the increase in burn rate, the SHIB token price continues to struggle and is currently trading at $0.00000996, down 12.8% over the past two weeks.

Meme coins have gained popularity in the world of cryptocurrencies, with Shiba Inu Coin (SHIB) being a well-known example. However, a new contender called Hollywood X PEPE is emerging and gaining momentum. Hollywood X PEPE is unique in that it is the first meme coin backed by big names in the entertainment industry, and aims to create an ecosystem where Hollywood stars and fans can interact on a blockchain platform. The team behind Hollywood X PEPE is demonstrating a solid business model and transparency, and their YouTube channel offers valuable insights into the coin and its vision. As with any investment, it is important to do your due diligence before diving in, but Hollywood X PEPE is definitely worth watching as it vies for a place in the meme coin hall of fame.

Lucie, a member of the Shiba Inu (SHIB) marketing team, predicts that the Shibarium mainnet launch will take place in July, contradicting an earlier prediction by Shibarium1 for an August launch. The launch date has been a topic of discussion among the community, with multiple teams working on the project, including AI integration. The Shibarium and Ethereum bridge has achieved a bi-directional transactional and trustless environment between the two networks, enabling users to transfer tokens without third-party risks or impact on market liquidity. The Shibarium beta version has recorded daily transactions of 428,231 and a total transaction of 12,406,178, with a current neutral market sentiment and a trading price of $0.000009.

Warren Buffet has sold over $13 billion in stocks, indicating that he may be preparing for a stock market crash as the dollar reaches new heights. The crypto market is shifting towards utility tokens rather than speculative assets, with utility and consumer staple stocks performing better than tech stocks in a high-rate recessionary environment. Analysts predict that the Collateral Network (COLT) presale will surpass Shiba Inu (SHIB) and Dogecoin (DOGE) in 2023, and investors should recognize market patterns and adapt accordingly. Collateral Network is a utility-focused token that provides a platform for lenders to earn passive income on stable assets and unlocks liquidity for real-world assets, with analysts forecasting a 35X increase in the price of the $COLT token in the coming weeks.