Shiba Inu's SHIB tokens experienced a 9% drop in value due to bridging issues reported by users after the launch of the Shibarium network. Transactions on the network were stalled for at least five hours, and attempts to add the network to a commonly-used crypto wallet failed.

Security company Beosin Alert has issued a reminder that transactions on Shibarium are in a pending state. Currently, $1.7 million is locked in ETH. Users are advised to temporarily stop using Shibarium. According to previous reports, Shiba Inu developers have launched the Ethereum L2 expansion solution Shibarium main network.

According to data from IntoTheBlock, large holders of Shiba Inu, also known as whales, have shifted billions of SHIB in the past 24 hours, resulting in a massive transaction volume of 1.13 trillion SHIB. The Large Transactions Volume metric on IntoTheBlock provides an overall idea of the amount transacted by whales in a single day, with large transactions being classified as any transfers exceeding $100,000. Shiba Inu's ecosystem tokens BONE and LEASH have experienced significant growth in the past 24 hours, with BONE up 8.68% to $1.64 and LEASH up 12% to $487. Additionally, Bitcoiner "Davinci Jeremie" expressed optimism for SHIB ahead of the Shibarium launch, predicting that big things are coming for the cryptocurrency.

Shytoshi Kusama, the creator of the Shiba Inu project, has invited Elon Musk to the upcoming Blockchain Futurist Conference in Toronto, Canada. The conference will unveil Shiba Inu's own layer 2 blockchain, Shibarium, and the completed Worldpaper, which will introduce all SHIB branded projects to the broader crypto community. Kusama has also confirmed strong indicators pointing towards the launch of Shibarium at the conference, marking a significant milestone in Shiba Inu's journey towards creating a robust, community-driven blockchain ecosystem. Additionally, Kusama announced that the remaining supply of BONE, the digital token associated with the SHIB community, will be minted and the BONE contract will be renounced to prevent further minting and ensure a substantial portion is allocated to validators in the upcoming blockchain system.

New addresses on the Shiba Inu network have increased by over 115% in the past seven days, according to data from IntoTheBlock. This surge in new addresses is often a sign of new money entering the crypto asset and could indicate optimism or FOMO. The increase in new addresses is likely due to the announcement of the "summer of Shibarium" by the official Shiba Inu development team, which promises exciting developments for the ecosystem. Additionally, the recent listing of the Shibarium gas token, BONE, on Changelly has contributed to the ecosystem's growth.

The governance token of Shiba Inu, BONE, has experienced a significant surge in price, with a weekly rise of over 40% and a 0.5% increase in the past 24 hours, reaching $1.20. This is notable as BONE has managed to remain bullish despite the recent market sell-off.

The price of the Bone ShibaSwap (BONE) token has risen by over 35% and entered the top 100 crypto list following an announcement by lead developer Shytoshi Kusama that the Shibarium mainnet release and Worldpaper will be launched in August. The BONE price has surged by 25% in the last 24 hours, breaking multiple resistances and preparing for a rally to $3. The Shibarium release and testnet "Puppynet" have surpassed the 25 million transactions milestone, indicating massive demand and a boost in SHIB and BONE prices in the long term. The Shiba Inu ecosystem is set to become more decentralized after the Shibarium launch as the community takes over decision-making for the ecosystem.

July 4 (Cointime) - U.Today presents the top three news stories from the past day, including the SEC's response to rumors of Gary Gensler's resignation, the possible reasons for the recent price increase of Shiba Inu's governance token BONE, and Ripple's release of one billion XRP coins from escrow.

June 28 (Cointime) - Guardarian, a fiat on/off ramp, has listed the ShibaSwap Bone (BONE) meme token on its platform, making it easier to purchase with fiat currencies. BONE is a governance token for the official dex of the Shibarium Layer 2 protocol for Shiba Inu, and will also be used for paying gas fees on Shibarium.

Swyftx, a crypto exchange based in Australia and New Zealand, is considering listing Bone ShibaSwap (BONE) on its platform. The exchange launched a poll offering two options for new token listings, with BONE currently in the lead with 88.2% of the votes. BONE has recently gained exposure with a listing on Indian platform Unocoin and remains one of the most requested tokens on their platform.