Shiba Inu Surpasses Dogecoin, Floki With 4% Surge — SHIB Developer Says Shibarium 'Almost Ready' To Reopen

Shiba Inu (CRYPTO: SHIB) has experienced a 4% increase in the past 24 hours, outperforming both Dogecoin (CRYPTO: DOGE) and Floki (CRYPTO: FLOKI). What Happened: The rise in SHIB's price comes after Shibarium, Shiba Inu's Layer-2 network, announced the impending relaunch of its enhanced network, stating it is “almost ready” to be reopened to the public.

Timeline of Dogecoin, Floki-inu, Shiba-inu

Off the back of the much-anticipated Shibarium launch, the SHIB burn rate has seen a tremendous rise. This surge in the burn rate comes despite the Layer 2 blockchain running into problems on the day of its launch last week, and still being in private mode.

4.6 trillion Shiba Inu tokens have been spotted to have moved from Bitvavo exchange to a wallet whose details remain unknown. The tokens are said to be worth 38.39$ million at the time of writing.

Shiba Inu (SHIB) has recently witnessed a tumultuous journey marked by a sharp reversal from its peak at $0.00001136. This reversal, known as a V-top, has raised significant concerns within the crypto community and the trading floors.

A huge Shiba Inu (SHIB) whale has been activating ‘whale alerts' in the crypto community with a total of 13 transactions that follow the same pattern, which could indicate that they were done by the same entity. Finbold looked at the ‘4 trillion token shuffle' tracks, and this is what was found.

Shibarium, the scaling solution from the Shiba Inu team, has achieved new milestones after experiencing a significant wave of adoption and user engagement following its launch. SHIB Community Euphoria Sparks Shibarium Meteoric Rise According to a report on August 21, the Shiba Inu ecosystem recorded an astonishing number of new wallets, with over 10 million wallets registered following the launch of the Shibarium network.

Tangem, a pioneering player in the field of blockchain-based hardware wallets, has taken a stride forward by unveiling its next batch of Shiba Inu (SHIB) hardware wallets. Taking to the X platform to spread the word, Tangem declared that “the next batch of SHIB Wallets is available for sale!

Shiba Inu partner, the Swiss-based company Tangem, announced on its Twitter-X account that they have manufactured a new batch of cold Shiba Inu wallets and they are ready for sale.

A prominent Dogecoin core developer has recently voiced concerns over the potential transition of Dogecoin from its current Proof-of-Work (PoW) consensus mechanism to Proof-of-Stake (PoS). In fact, he has gone so far as to suggest that such a move might lead to their departure from the project.

Dogecoin (DOGE) has been one of the most popular cryptocurrencies in recent years, thanks in part to its meme status and Elon Musk's support. However, the coin has also been volatile, and its price has fluctuated wildly.

The crypto ecosystem is still struggling to get off its feet after a tumultuous trailing seven-day period that saw over $1 billion removed from the industry through liquidations. At the time of writing, the combined crypto market cap is still stagnating at $1.05 trillion, with hopes for revival now hinging on top altcoins like Dogecoin (DOGE), with known volatility and price swings.