Altcoins News
By Maheen Hernandez
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Burn Rate and Shibarium Activity Both Drop. The on-chain picture isn't great either. SHIB's burn rate fell 54% over the past week — a drop…
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Rakuten Wallet Adds Physical SHIB Coin in Japan. Not everything is negative. Over in Japan, Rakuten Wallet — part of Rakuten Group — added a…
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Wallet Count Jumps Despite Everything. Here's the weird part. Despite all of it — the ETF snub, the burn rate drop, the Shibarium slump,…
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Shiba Inu is having a rough stretch. The second-largest meme coin by market cap got left out of T.
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That's a lot to absorb at once. T. Rowe Price launched the fund without SHIB as an underlying asset, which caught a chunk of the community off guard.
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The on-chain picture isn't great either. SHIB's burn rate fell 54% over the past week — a drop that points to shrinking network participation.
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Shibarium isn't doing much better. The layer-2 scaling solution was built to handle massive transaction volumes, and for a while it did.
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Market cap slid below $2.5 billion. At one point, SHIB actually lost its spot as the second-biggest meme coin to something called MemeCore — though it clawed the ranking back…
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Not everything is negative. Over in Japan, Rakuten Wallet — part of Rakuten Group — added a physical SHIB coin to its "Real Coin" series.
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Read also: T. Rowe Price TKNZ Launches as $1.9 Trillion Giant Bets on Multi-Token Crypto ETF
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The U.S. government also entered the picture. Arkham disclosed that federal authorities took control of $250,000 worth of Shiba Inu coins seized from FTX and Alameda Research.
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Here's the weird part. Despite all of it — the ETF snub, the burn rate drop, the Shibarium slump, the price decline — the SHIB wallet count just hit nearly 1.7 million.
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Maybe some buyers see a 95% drawdown from the all-time high as an entry point. Maybe it's just curiosity.
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See also: Morgan Stanleys Solana ETF Filing Puts $1.15B Inflow Story in Focus
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What's still murky is whether any ETF inclusion is even being pursued formally, or whether that was purely speculative chatter. No launch date exists.
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