Check out the top three news stories from the past weekend presented to you by U.Today.
According to recent on-chain data, for the past seven days, Shiba Inu has been hovering around the $0.00000813 price level. This absence of price movement could signal the beginning of a major shift. The insight into this could be revealed by IntoTheBlock’s global in/out of the money (GIOM) metric, which identifies the average cost at which tokens were purchased for any address with a balance. The address is “in the money” if the current cost exceeds the average cost; if it is less, it is “out of the money.” According to this metric, only 76 trillion SHIB tokens are left for the price to move forward. This implies that many SHIB owners are currently “in the money,” which may serve as a resistance level for the cryptocurrency.
Pepe, a meme coin launched in late April 2023, has recently found itself at the center of a scandal. On Aug. 26, Pepe’s official X handle wrote that former project team members allegedly stole roughly $15 million worth of tokens and sent them to various crypto exchanges to sell. The incident struck the already struggling asset, which hit its bottom on June 16 and lost all of its summer gains. After removal of such a substantial amount of tokens, it is expected that Pepe would face even more erratic price movements. However, the drama has also partially worked for Pepe’s benefit, as it has propelled the token to the top trending assets on the market on CoinMarketCap, increasing its visibility among potential investors.
Shiba Inu has broken another record in terms of total addresses. Per IntoTheBlock data, on Aug. 26, this metric hit a new high of 3.56 million. The achievement can be attributed to the relaunch of Shibarium, which attracts new users on a newly appeared wave of enthusiasm. Shibarium is now live on GeckoTerminal, a real-time DEX tracker powered by the crypto ranking platform CoinGecko, allowing users to track all Shibarium tokens. It is currently producing blocks and running smoothly. According to blockchain explorer Shibariumscan, Shibarium has also recorded a major milestone, with the total number of transactions reaching 381,770 at the moment of writing.
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
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