Shytoshi Kusama, the creator of Shiba Inu, recently announced the successful launch of Shibarium, a platform that has already garnered more than 65,000 wallets and 350,000 transactions. The platform offers a variety of tokens, including entertaining, unconventional, and occasionally controversial tokens.However, holders of Shiba Inu tokens have pulled out 1.8 trillion SHIB tokens, equivalent to a value of $14.5 million at the prevailing market price of $0.000008, between August 17 and August 26. This withdrawal amounts to over 10% of Shiba Inu’s average trading volume throughout the past week.On August 25, the network executed 132,739 transactions, marking its most active day since its public relaunch on August 24. Nonetheless, transaction activity experienced a downturn over the weekend, with 78,870 transactions on Saturday and 40,433 on Sunday. Additionally, a total of 19,677,336.8931 BONE tokens have been staked within Shibarium.Data from Cryptoquant indicates that the reserves of Shiba Inu tokens held in exchanges began diminishing on August 17, soon after the inauguration of the Shibarium mainnet on August 16. Taking a broader view, the data illustrates that the deposits of SHIB tokens into exchanges have not been at such minimal levels since February 2022. Exchange reserves provide a real-time depiction of alterations in the total SHIB balances possessed by investors in recognized crypto exchange wallets, showing recent upward movements in Shiba Inu.Shibarium encountered issues during its initial launch on August 16, which led to block production disruptions. However, the team seems to have addressed these problems, paving the way for a potentially transformative phase for the Shiba Inu ecosystem.

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Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	Sandeep Naiwal, Shytoshi Kusama, Ryoshi
Companies	FAC, Cryptoquant, Shibarium, Sandeep Naiwal, FINRA, eToro, Polygon, Shytoshi Kusama
Currencies	bone, ethereum, usdt, shiba inu, bitcoin
Securities