Despite the recent price pressure on Shiba Inu (SHIB), its Layer 2 solution shibarium has reached a milestone of 1.5 billion transactions, indicating strong infrastructure growth. Meanwhile, on-chain data reveals a 100% surge in whale address activity, accompanied by an 8% price rebound, making market trends worth watching. Here's an in-depth analysis:
Shibarium Breaks 1.5 Billion Transactions Barrier, Despite SHIB Price Decline
The second-layer solution Shibarium in the shiba inu ecosystem has surpassed 1.5 billion transactions, demonstrating strong infrastructure growth. The network now boasts over 267,000 active addresses and nearly 12.5 million blocks, highlighting its technological scalability and adoption rate.
Despite achieving these milestones, SHIB's price continues to face pressure. Token burn rate surged 150%, removing 750,000 tokens from circulation, while exchange outflows exceeded inflows—indicating a shift in holder sentiment. Bitcoin advocate Jeremie Davinci noted Shibarium's potential but emphasized its critical shortcoming: "It's a chain that can run applications, but the lack of actual use cases is suppressing SHIB's price momentum."
The disconnect between infrastructure progress and real-world utility currently challenges SHIBarium. Transaction efficiency and cost savings have been verified; now, the ecosystem must provide application demand that goes beyond speculative trading.
Shiba Inu Whale Activity Surges 100%, Accompanied by Price Increase
Shiba Inu (SHIB) saw an 8% price increase in the past week, with whale activity experiencing a stunning 100% surge. Blockchain analysis company IntoTheBlock reported significant fund outflows from major wallets, indicating high-net-worth investors are accumulating tokens. On August 7th, approximately 359.6 billion SHIB (valued at $4.9 million) were transferred from exchanges to cold wallets—a typical bullish signal suggesting a long-term holding strategy.
This meme coin currently faces resistance at $0.00001400 but finds support near $0.00001300, aligning with the 200-period EMA on the 4-hour chart. Market observers expect significant volatility when whales continue accumulating during the current upward trend, potentially retesting this critical level.
Embargo Ransomware Group Launders $34 Million in Crypto — Regulatory Risks Emerge
Since April, the Embargo ransomware group has laundered over $34 million in cryptocurrency, targeting U.S. hospitals and critical infrastructure. Blockchain analysis company TRM confirmed the group operates as Ransomware-as-a-Service (RaaS), with victims including Memorial Hospital and Manor in Georgia and Weiser Memorial Hospital in Idaho. Ransom amounts reached up to $1.3 million.
Technical similarities suggest EmbARgo might be a renamed version of the disbanded BlackCat (ALPHV) group. Both use the Rust programming language and share wallet infrastructure on the blockchain. Embargo employs a complex laundering network involving intermediary wallets, high-risk exchanges, and sanctioned platforms like Cryptex.net.
As authorities examine laundering paths, cryptocurrencies like SHIB may face regulatory consequences. The group's activities highlight ongoing vulnerabilities in cryptocurrency's defense against illicit finance.
