Shibarium, a layer-2 blockchain for Shiba Inu (SHIB), has achieved over 100,000 wallets on its platform following its relaunch. Within 24 hours of the relaunch, 35,000 wallets were added, bringing the total to 101,277 wallets. The relaunch was confirmed by Shytoshi Kusama, the lead developer and co-founder of Shiba Inu. The increase in wallet addresses reflects a 55.8% rise in wallet numbers and a 20.2% increase in transactions. Shibarium is like a new born baby who got overwhelmed by so many excited family members coming to greet meet them, this time around they're ready but please do handle it with love and care 😉 https://t.co/vbsMtILsBa — Kaal (@kaaldhairya) August 28, 2023 The relaunch was successful, demonstrating the safety of funds, and Polygon Labs co-founder Sandeep Nailwal provided assistance to Shibarium during the reboot. The price of SHIB also saw a 3.6% increase following the relaunch. Shibarium is an Ethereum layer-2 network that utilizes SHIB for gas fees and focuses on building gaming and metaverse applications. Source: Cointelegraph

XRP has managed to attract attention by registering a modest gain of approximately 1.84%, pushing its price to $0.5215, as reported by CoinMarketCap. One of the key factors contributing to XRP’s prominence is its widespread adoption among both retail and institutional investors. This has resulted in a significant influx of customer funds, leading to a substantial increase in the coin’s 24-hour trading volume. According to current data, the on-chain metric has risen by 4.75%, with over $955 million worth of XRP traded across spot markets. In terms of price performance, XRP has demonstrated resilience, outpacing its peers such as Bitcoin (BTC) and Ethereum (ETH) over the past seven days. This has solidified its position as one of the top-performing coins in the industry, garnering significant hype. However, XRP’s price expression has been impacted by the ongoing legal battle between Ripple Labs Inc. and the Securities and Exchange Commission (SEC). The SEC has accused Ripple Labs of conducting an unregistered securities offering through the sale of XRP tokens. While a judge has ruled that XRP is not a security as defined by the SEC, the lawsuit has created uncertainty in the market and affected XRP’s price dynamics. Despite the legal challenges, the article emphasizes the importance of XRP’s utility in the broader Web3.0 ecosystem. Ripple Labs has expanded its business internationally, leveraging the XRP-powered on-demand liquidity (ODL) feature. This feature enables fast and low-cost cross-border transactions, enhancing the utility and value proposition of XRP within the cryptocurrency ecosystem. Source: UTODAT

Ethereum whales, referring to large investors holding significant amounts of Ethereum, are accumulating the cryptocurrency following the recent market crash. On-chain data indicates that four Ethereum whales have collectively purchased over 56,000 ETH, worth approximately $94 million, in the past week.  These purchases were made after the market crash, suggesting that these whales are attempting to buy at the bottom of the market. The accumulation of ETH by these large investors could indicate their positive sentiment and expectations for a recovery in the Ethereum market. Although Ethereum’s price fell below critical levels, such as the 100-day and 200-day moving averages, there are signs of recovering investor sentiment, as reflected by the Crypto Fear & Greed Index. If investor confidence continues to improve, it could lead to a recovery in the price of Ethereum, potentially aided by the price recovery of Bitcoin. The current resistance level for Ethereum is $1,700, and if bulls manage to surpass and establish support at this level, a sustained recovery is anticipated. However, if the resistance is not overcome, the price of Ethereum may decline back to around $1,500. At the time of writing, ETH is trading at $1,664, indicating that the whale investors are already in a profitable position. Source: NEWSBTC

Tron (TRX) is experiencing a rise in price and is trading above $0.0760 against the US Dollar. It has outperformed Bitcoin and shows potential for a further rally towards the $0.0820 resistance level.  Tron’s price has rebounded from the $0.0720 support zone and is currently trading above $0.0760 and the 100 simple moving average (4 hours). There is a bullish trend line forming with support near $0.0762 on the TRX/USD 4-hour chart. If the price continues to climb, it could reach resistance levels at $0.080 and $0.0820. A close above the $0.0820 resistance level may lead to even higher gains, with the next major resistance near $0.0850. However, if TRX fails to clear the $0.080 resistance, a downside correction could occur. Initial support levels are at $0.0760 and $0.0745, with the next major support at $0.0715. Technical indicators such as the 4-hour MACD and RSI suggest a bullish momentum for TRX/USD. Source: NEWSBTC

SPX (S&P 500 Index): The S&P 500 Index is a barometer for the overall performance of the U.S. stock market. The analysis suggests that the index is experiencing a bullish trend, with buyers exerting control. However, it’s important to note that market dynamics can change rapidly, so investors should closely follow any developments.   DXY (U.S. Dollar Index): The U.S. Dollar Index measures the value of the U.S. dollar against a basket of other major currencies. The analysis indicates that the index is currently facing bearish pressure. This implies that the U.S. dollar is weakening relative to other currencies, which may have implications for international trade and currency exchange rates.   BTC (Bitcoin): Bitcoin, the largest cryptocurrency by market capitalization, has been displaying signs of recovery. Although the price has been fluctuating, the overall sentiment suggests a bullish trend. However, caution is advised as there is still selling pressure during price breakouts, indicating that bears may still have some control over the market.   ETH (Ethereum): Ethereum is the second-largest cryptocurrency and a significant player in the decentralized finance (DeFi) space. Similar to Bitcoin, Ethereum has been exhibiting signs of recovery, but caution is warranted due to selling pressure during price breakouts.   BNB (Binance Coin): Binance Coin is the native cryptocurrency of the Binance exchange. The analysis does not provide specific details about BNB’s current price trend or market conditions. It would be advisable to seek additional information from reliable sources to gain a better understanding of its recent performance.   XRP (Ripple): Ripple’s XRP has had a tumultuous journey in the cryptocurrency market. The analysis does not provide specific details about XRP’s current price trend or market conditions. Investors interested in XRP should conduct further research to stay informed about recent developments.   ADA (Cardano): Cardano’s ADA has gained significant attention in the crypto space due to its innovative blockchain technology. The analysis does not provide specific details about ADA’s current price trend or market conditions. Investors should stay updated with the latest news and analysis to make informed decisions.   DOGE (Dogecoin): Dogecoin gained popularity as a meme cryptocurrency, but it has experienced significant volatility. The analysis does not provide specific details about DOGE’s current price trend or market conditions. Investors interested in Dogecoin should exercise caution and keep an eye on market developments.   SOL (Solana): Solana is a blockchain platform known for its high scalability and fast transaction speeds. The analysis does not provide specific details about SOL’s current price trend or market conditions. Investors should consult reliable sources or conduct further research to gain insights into its recent performance.   DOT (Polkadot): Polkadot is a multi-chain platform that enables interoperability between different blockchains. The analysis does not provide specific details about DOT’s current price trend or market conditions. Investors interested in Polkadot should seek more information from credible sources to make informed decisions.   It’s important to note that market conditions are dynamic and subject to change. Therefore, investors should exercise caution, conduct thorough research, and consult with financial professionals before making any investment decisions. Source: Cointelegraph

Significant amounts of Dogecoin (DOGE) have been transferred by wealthy crypto investors following a rebound in the memecoin’s value. Whale Alert, a blockchain-monitoring platform, detected several large DOGE transactions totaling 776,351,068 DOGE, equivalent to $48.47 million. One notable transaction involved a crypto whale transferring 308,390,532 DOGE worth $19.22 million from Binance to an unidentified wallet. Another whale moved 253,419,377 DOGE, valued at $16.05 million, from Robinhood to an unknown wallet. Additionally, a large Dogecoin holder relocated 129,673,539 DOGE worth $7.90 million from Robinhood to an unidentified wallet. Furthermore, 84,867,620 DOGE, valued at $5.30 million, was observed moving from an unknown wallet to Robinhood, potentially for sale on the open market. These significant movements of Dogecoin coincide with the memecoin’s attempt to recover from a recent market downturn. On August 18th, Dogecoin reached a monthly low of $0.059 during the broader cryptocurrency sell-off. However, since then, DOGE has experienced a bounce and is currently trading at $0.064. Source: THE DAILY HODL

Bitcoin has experienced a sell-off, but crypto analyst Tony “The Bull” remains bullish on the cryptocurrency. He suggests that the current decline could be a temporary dip that sets the stage for a potential surge to $45,000 in the near future.  Tony points out that based on historical occurrences when Bitcoin was similarly “oversold” in the 4-hour chart, it went on to experience a 63% surge. Currently trading around $27,800, Bitcoin would need to break past resistance levels, including $31,800, to reach new highs in 2023.    However, on the daily chart, BTC has broken below the base of a bull flag, indicating bearish sentiment and potential panic among holders. The increased trading volume of stablecoin USDT suggests that some investors may be selling BTC and opting for more stable assets. The approval of a spot Bitcoin exchange-traded fund (ETF) in the United States could potentially trigger demand and change market sentiment. Several major Wall Street players, such as BlackRock and Fidelity, have submitted applications for a Bitcoin ETF, and all eyes are on the United States Securities and Exchange Commission (SEC) for a decision on its approval. Source: BITCOINIST

The core developers of the Shiba Inu (SHIB) meme coin project have achieved a major milestone with the successful launch of Shibarium, their long-awaited layer-2 scaling solution, on the mainnet. This launch represents a significant step forward for the project and comes in accordance with the timeline previously announced by lead developer Shytoshi Kusama during the Blockchain Futurist Conference in Canada. Shibarium is an Ethereum-based layer-2 scaling solution designed to enhance the performance and capabilities of tokens within the Shiba Inu ecosystem. This ecosystem includes popular tokens such as SHIB, BONE, and LEASH. With the introduction of Shibarium, these tokens are expected to benefit from improved scalability, faster transaction speeds, and lower fees. The layer-2 solution aims to provide a more efficient and seamless experience for users while maintaining the principles of decentralization. In addition to the technical advancements, validators on the Shibarium network will be rewarded with a governance token called BONE. This token serves as a means of incentivizing and empowering validators to participate in the network’s governance and decision-making processes. BONE has a total supply of 250,000,000 tokens. SHIB recovers amid Shibarium launch | Source: SHIBUSD on Tradingview.com Meanwhile, there has been a noteworthy development in the burn rate of SHIB tokens. According to data from Shibburn, a tracking website dedicated to monitoring Shiba Inu token burns, there has been a significant spike in the burn rate. In the past 24 hours alone, over $342 million worth of SHIB tokens were burned, reflecting a burn rate of over 50%. This indicates a substantial reduction in the circulating supply of SHIB tokens, which could potentially impact the token’s price dynamics and supply-demand dynamics within the Shiba Inu ecosystem. As for the price action, Shiba Inu has experienced a 9.0% drop in value over the past 24 hours, currently trading at $0.000009, according to data from Benzinga Pro. It’s important to note that cryptocurrency markets can be volatile, and price fluctuations are common.  Source: BENZINGA Crypto

According to analysts, XRP’s price may experience a significant increase in the near future. The recent positive performance of XRP is attributed to a declaration by US Judge Analisa Torres that secondary sales of the cryptocurrency on exchanges do not qualify as securities.  Although the initial price surge subsided, XRP has managed to retain most of its gains. Crypto analysts have observed similarities between the price trends of XRP in 2017 and the present, suggesting the potential for a massive rally. Notably, in both instances, XRP’s price reclaimed the 20-day and 50-day Simple Moving Averages (SMAs), a rare occurrence on the BTC chart.  “The last time we saw a bullish claim of these two SMAs on the monthly timeframe was 2017. The biggest Bull Run in $XRP history,” the analyst explains. If history does repeat itself, then the cryptocurrency’s price could be poised for a massive rally from here. This is the first time we have seen this for $XRP in 5 years! 😱$XRP / $BTC on the monthly timeframe has reclaimed the 20 and 50 SMA. 📈 Not only this, but it has also wicked back to the 50 SMA to test it as support (if we continue to hold out the month). 🎯 The last time we… pic.twitter.com/d5zjzwcTvm — Cryptoinsightuk (@Cryptoinsightuk) August 13, 2023 One analyst predicts that XRP’s price could rise to $3, although there may be initial hurdles and a temporary decline to around $0.58. The positive ruling by Judge Torres has attracted increased attention to XRP, which could act as a catalyst for further price growth. As of now, XRP is trading at $0.6258, reflecting a 0.34% loss on the weekly chart. Hi all. We set a historical pattern 3 months back & this week, #XRP stands fantastically at the same price level now. I know it sounds crazy but check below. The wave trend indicates we can still touch $0.58 & hit $3 (NFA) in the same week, says historical pattern. Jeez. pic.twitter.com/byPwgriN8c — Dark Defender (@DefendDark) August 14, 2023 Source: BITCOINST