Jaw-Dropping 74% of Shiba Inu (SHIB) Holders Suffer Losses Amid Shibarium Outage

In a dramatic revelation, data from renowned crypto analytics platform IntoTheBlock has underscored a concerning trend among Shiba Inu (SHIB) investors. A staggering 74% of SHIB holder addresses find themselves entrenched in a sea of losses, mirroring the tumultuous trajectory of the digital token.

Timeline of Shiba-inu

Shiba Inu (SHIB), the sensational meme coin that had taken the crypto world by storm, is scripting a dramatic comeback, igniting hopes for a striking resurgence in its price dynamics. In a surprising turn of events, Shiba Inu has surged past the crucial $0.000008 benchmark, and its current trading value rests at approximately $0.

ShibaSwap's token, BONE, is leading the top gainers for the day (last 24 hours) and the week (last seven days), according to CoinMarketCap's index considering the best-performing assets among the top 100 per market capitalization.

Shiba Inu team official Lucie has disclosed exciting news as the Shibarium relaunch nears. In a new tweet, Lucie informs followers of the status of Shibarium, revealing that Shiba Inu Layer 2 is officially live and running smoothly in private mode.

Shiba Inu's much-anticipated Shibarium network, a layer-2 solution built on Ethereum, is gearing up for a fresh launch after encountering initial setbacks. The developers are diligently addressing the issues that plagued its debut, with hopes of a smoother second attempt.

Whale Alert has reported that a staggering amount of Shiba Inu meme coins, slightly less than 710 billion SHIB, was withdrawn from major crypto exchange Gemini to anonymous address 0x941b4FdB4b1533Ab2Cc8b90fF0700F658B4Aa642.

Following Shibarium's botched launch, the network's developers promised to provide regular updates as the network put measures in place to scale and handle any substantial amount of traffic. And in his latest update, lead developer Shytoshi Kusama has revealed plans to start implementing the “ShibPaper.

Shiba Inu (CRYPTO: SHIB) has fallen 13.5% to the $0.000008-level over the past week. The popular altcoin has fallen in recent sessions, with a selloff last week sparked amid overall market weakness following weak economic data out of China, which has caused global macro pressures.

Shiba Inu's (SHIB) new layer-2 scaling solution will soon reopen to the public after experiencing technical difficulties last week, according to Shytoshi Kusama, the project's pseudonymous lead developer.

The Shiba Inu project's Layer-2 network, Shibarium, is preparing for a triumphant comeback following last week's tumultuous launch. Armed with enhanced features and fortified safeguards, the platform is set to re-enter the scene with renewed vigor.

Despite the high crypto volatility YTD, the second largest meme coin by market capitalization and daily traded volume, Shiba Inu (SHIB), has undeniably oscillated between the same price it opened the year.