A Canadian woman has sued a phone company over the theft of her Bitcoin worth $531,000 in 2021, in a SIM swap scam. The victim, a pharmacy manager, alleges that the lost Bitcoin, now worth roughly $1.8 million, was stolen after a cellphone store employee gave her personal information to a hacker. The victim, Raelene Vandenbosch sued Rogers Communications and Match Transact Inc. in three provinces, alleging that the loss she suffered from the SIM swap scam was the fault of an employee of a phone kiosk owned by Match. Now, the Supreme Court in British Columbia (B.C.) has ruled that the issue be resolved in private arbitration, outside a courtroom. Canadian woman loses BTC in SIM swap scam According to a court filing submitted by the Canadian, she approached Rogers about the situation when she first discovered it. The Canadian woman said she was offered a refund on one month’s service, worth about $95. Vandenbosch then filed lawsuits in Ontario, Quebec, and B.C. to recoup more. Vandenbosch said the funds were stolen after a hacker pretending to be a technician from Rogers convinced a Match-owned mobile store employee in Montreal to share their computer screen. The Canadian native said the action allowed the hacker to gain access to her account information, even though she was in B.C. at the time. The hacker then proceeded to download all her account information onto a SIM card that was in their possession. After the deed, the hacker then allegedly hijacked her account, locking her out and stealing her Bitcoin in the process. Vandenbosch is suing for negligence, breach of privacy, and breach of contract. The Canadian is also seeking restoration of the amount that the Bitcoin was at the time of the theft and other damages and admission of guilt. In response, Rogers and Match have filed a response in court, with none of them admitting or denying the allegations. Instead, they have argued that they could resolve the issue through arbitration rather than in a courtroom. Vandenbosch also signed an arbitration agreement with Rogers as part of her cellphone plan. In a ruling by the B.C. Supreme Court Justice Anita Chan, the case is expected to go to arbitration, except for the part seeking a public admission of wrongdoing, which the judge has ruled can proceed because it is in the public interest. The judge did not rule on the facts of the case in her decision. The result could mean that if Vandenbosch continues to pursue the suit and either company is forced to admit fault, then she does not get paid back for the lost BTC. A spokesperson representing Rogers has defended the company and its security record. The spokesperson also highlighted the risk associated with digital assets. “As fraudsters use constantly evolving techniques to try and take advantage of consumers across the wireless industry, we continually strengthen our security measures to protect our customers against fraudulent activity,” the spokesperson said. Vandenbosch contends arbitration ruling In her initial filing, the Canadian said that the hacker allegedly gained access to her crypto accounts on Ledger and Shake Pay, stealing over 12 BTC, worth around $534,000 at the time. The stolen Bitcoin is now worth over $1.8 million as of today’s price. She is accusing Match of negligence and breach of privacy for failing to protect her personal information. She also claims Rogers failed to protect her privacy by allowing kiosk workers access to too much personal information and failing to mandate verification questions. Meanwhile, the Canadian native has argued that she should not be required to go through arbitration because of the amendments made by the B.C. government to the Business Practices and Consumer Protection Act in March. The government amended the legislation to bar cell phone companies from imposing these agreements on customers, arguing that forced arbitration hurts users. Vandenbosch said that these new laws should be retroactively applied to her case, but Justice Chan disagreed, saying the rules are not meant to be retroactive. “The prohibition came into force on Royal Assent of Bill 4 on March 31, 2025, and applies to new disputes that are launched after the date of Royal Assent,” a spokesperson from the B.C. Ministry of Attorney General said. “This means if a supplier had a pre-existing contract with an arbitration clause, the parties are no longer bound to arbitrate if they were not already in arbitration at the time.” KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
Ethereum’s (ETH) price prediction has become a hot topic as the market struggles to interpret mixed signals from on-chain metrics and ETF flows. Despite a flood of bullish developments in June, the token still ended the month with a 1.5% loss. Traders now question if the rally is merely delayed or altogether derailed. Meanwhile, lesser-known tokens like Remittix are quietly drawing attention for their real-world payment use cases. Hyperliquid: Cooling Momentum After a Massive Rally Hyperliquid (HYPE) soared in recent weeks but now faces a key test near the $41.55 resistance. The level aligns with a Golden Pocket Fibonacci retracement and prior price ceilings, suggesting a potential reversal zone. Technical analysts believe HYPE may have completed its impulsive rally and could now enter an ABC correction phase . Once that is seen, a pullback to the price of 26.53 can be expected, which is a strong support area. Still, the correction appears healthy and orderly, with no signs of panic selling. Unless bulls reclaim $41.55 with volume, sideways movement or a dip remains the probable path. Yet, this zone may offer a fresh entry point for traders looking to accumulate. Source: Tradingview Ethereum: Bullish Tailwinds Struggle to Lift Price Ethereum’s June metrics looked promising on paper. US spot ETFs recorded their second-best month since launch, pulling in over $1.1 billion in net inflows. Accumulation addresses, wallets that have never sold ETH, saw their highest monthly increase in history, signaling long-term holder conviction. Large companies such as SharpLink Gaming and Bit Digital bought ETH and added it to their treasuries, and staking reached an all-time high of 35.52 million ETH. However, in spite of it, ETH could not record a positive trend, being trapped between the levels of $2,300 and $2,500. Traders attribute the underperformance to global market jitters, political tensions and whale offloading. One whale recently pulled 95.3K ETH from staking, sending over 68K ETH to exchanges, a potential precursor to sell pressure. Source: Tradingview Remittix: The Utility Token Turning Heads While ETH struggles for momentum, Remittix (RTX) is emerging as a stealth contender in the utility token space. Its crypto-to-fiat bridge lets users send tokens like ETH or USDC directly to bank accounts in minutes, a real breakthrough in payments. Take Paulo, a gig worker in Brazil. Instead of losing 6–8% using traditional exchanges to off-ramp earnings, he uses Remittix to receive reais straight into his bank at just 1% cost. With upwards of $15.8 million already raised and RTX trading at $0.0811, its upside potential remains massive. Backers believe Remittix could follow, or even exceed, early-stage Ripple’s trajectory. With the $190T payments market ripe for disruption, RTX may be one of the most overlooked opportunities of 2025. What Traders Are Betting on Next Ethereum’s long-term fundamentals are strong, but short-term price action remains underwhelming. Hyperliquid’s chart setup suggests a pause, not a crash. Meanwhile, real-world use cases like those offered by Remittix are capturing investor imagination. For traders seeking practical blockchain solutions with breakout potential, RTX may be worth a close look. Join the Remittix (RTX) presale and community: Join Remittix (RTX) Presale Join the Remittix (RTX) Community
Hackers responsible for a $140 million breach involving a Central Bank of Brazil service provider have begun laundering the stolen funds through cryptocurrencies, marking a significant development in the aftermath
The post Bonk & Pepe Gain Momentum While Dogwifhat Drops—Is Memecoin Season Over or Just Beginning? appeared first on Coinpedia Fintech News Memecoin mania is showing signs of rotation: Bonk has surged ~6–7% to ~$0.000018 on strong ETF buzz and burning catalysts, while Pepe trades near $0.0000098, down ~1–2% but buoyed by whale accumulation and bullish wedge breakouts. Meanwhile, Dogwifhat (WIF) has slid ~4–10% intraday to ~$0.85, testing key support amid declining volume. Fundamentally, Bonk’s token burns and supply tightening, coupled with Pepe’s on-chain demand, suggest the memecoin mania may still have legs. Technically, Bonk and Pepe display bullish wedge breakouts, while WIF’s dip could mark a short-term bottom—watch for volume confirmation. Bonk (BONK) Bonk (BONK), Solana’s breakout memecoin, is once again attracting market attention as it gains upward momentum amid fresh hype surrounding potential ETF exposure and token burn events. Trading at approximately $0.00001874, the BONK price has climbed steadily in recent sessions, rising over 20% from weekly lows near $0.0000158—an encouraging sign for meme-token bulls. Despite the recent selling pressure, the BONK price remains within bullish influence as the token surges $0.00001558 to $0.00001627 The momentum is rising as the price is approaching the upper resistance of the Gaussian Channel and a rise above the range could flip the prevailing bearish trend On the other hand, the CMF is rising and sustaining above 0, hinting towards the rise in the money flow onto the platform Therefore, if the BONK price manages to rise above the channel, it may reach the neckline of the double-bottom pattern at $0.00002776, slicing above the pivotal resistance between $0.00002495 and $0.00002632 Pepe (PEPE) PEPE coin is showing signs of technical strength amid renewed crypto market optimism. It is currently trading around $0.000009890 with a modest rise of over 1.69% in the past 24 hours but still remains within a tight consolidation range. This hints towards a potential breakout, offering a potential upside of more than 50%. The PEPE price has been trading within a descending parallel channel but has formed a small ascending parallel channel within Interestingly, the CMF is dropping while RSI is making every attempt to keep the price elevated, holding the ascending support This suggests that the strength of the rally is coiling up but the money flow into the platform has decreased This may place the PEPE price at a crucial juncture as the token is required to break out of the resistance of the main channel to sustain within the ascending trend channel. Hence, the upcoming weekend could have a huge impact on the PEPE price, as a rise above $0.00001 could invalidate the bearish thesis. dogwifhat (WIF) The WIF price is trading at $0.8395, facing a 3.15% pullback in the past 24 hours; however, the weekly gains are around 4%. The trading volume has also displayed a notable rise, while the on-chain metrics also signal renewed momentum as the buyers accumulate more than 72 million WIF. Besides, the open interest is also up by 25%, hinting at a bullish bias; meanwhile, the technical indicators suggest mixed sentiments. The WIF price faced rejection from the resistance of the descending expanding channel while facing constant bearish pressure With this, the Gaussian channel has turned bearish, hinting towards a continued descending trend that may drag the levels to the support at $0.78 On the other hand, the MACD displays a drop in the buying pressure while the levels are heading for a bearish crossover The current trade setup suggests bears gaining dominance that could further drag the levels lower, followed by a bullish rebound that may breach the resistance and enter the resistance zone between $1.04 and $1.1.
WLFI’s new proposal seeks to make the token tradable, expanding governance and market access beyond insiders.
Summary BitMine Immersion has secured a pivotal $250 million PIPE to initiate an Ethereum corporate treasury strategy, fundamentally redefining its capital structure. The capital fuels a strategic shift towards a large Ethereum treasury and business expansion into higher-margin Bitcoin Treasury Advisory and Mining-as-a-Service offerings. BMNR trades at a 52.82x price-to-hold ratio (current BTC only) and a pro forma 3.29x (including planned ETH treasury), representing a notable premium compared to peers like MSTR, MARA, and RIOT. While the capital infusion is a significant positive, a hold rating is initiated due to the current rich valuation. Bitmine Immersion Technologies ( BMNR ) is the latest company to adopt the crypto corporate treasury strategy. As publicly traded companies increasingly adopt the crypto-backed balance sheet approach, it is becoming increasingly important for investors to develop a framework for evaluating companies pursuing such strategies. In the last month, I've covered a series of companies that recently adopted a crypto-backed corporate balance sheet. And part of the approach I've taken to analyze these companies includes an assessment of the underlying business (if any), the strategic intent for adopting a crypto treasury strategy, and the potential near and long-term implications for the company's capital structure. My recent coverage of SharpLink Gaming ( SBET ), a digital sports media and performance marketing firm, that adopted an Ethereum ( ETH-USD ) corporate strategy with a $463 million ETH buy last month, showed significant supply overhang from equity fund raises and potential for heavy dilution. Another company I covered recently was Next Technology ( NXTT ), a Chinese tech firm that touts AI and blockchain service offerings in addition to its recent pivot to a Bitcoin corporate treasury strategy. An in-depth analysis revealed that no tangible backstop business exists yet for the company, nor were there any working products in its acclaimed tech verticals, nor revenue, nor backlog yet. This underscores the critical importance of due diligence when investing in crypto treasury companies. This article initiates coverage on Bitmine Immersion, examining its core Bitcoin ( BTC-USD ) mining business and its pivot to Bitcoin and Ethereum treasury strategy, and the broader implications of this pivot. The main goal is to give investors a grounded view of what's driving this stock, how sustainable the thesis is, and whether there is long-term value beyond the current hype created by the crypto treasury pivot. Bitmine Immersion Technologies - Company Profile Bitmine calls itself a "Bitcoin network company that drives value through BTC treasury and multiple Bitcoin income streams." As its primary business, Bitmine mines Bitcoin just like any other Bitcoin miner. The company currently operates two mining sites in Texas and two mining sites in Trinidad and Tobago. One of Bitmine's main differentiators in the mining business is its use of immersion-cooled infrastructure, which involves submerging ASIC miners in thermally conductive liquid instead of relying on the more common air cooling. Immersive cooling isn't novel or proprietary to Bitmine, but Bitmine is one of the miners that has fully adopted this cooling method as the only operational standard. I covered the benefits of immersive cooling last year in an article for MARA Holdings ( MARA ), where I talked extensively about MARA's two-phase immersion cooling system. Just a side note, If you are interested in understanding what it entails and the implications for mining operations and long-term OpEX reduction, you can refer to that piece on Mara Holdings , which explains it in detail. Bitmine calls part of its model "synthetic mining," which is to acquire Bitcoin hashrate not by buying hardware but via leasing or contract-based access to mining power, essentially paying for the right to use the hashrate without owning the underlying machines. It is like an institutional-grade version of cloud mining. In cloud mining, smaller retail miners typically prepay for a fixed slice of hashrate from a provider, while in this case, it is large-scale miners that lease the equipment or the output through structured agreements. Synthetic mining is also different from colocation or traditional hosting arrangements, in that, in synthetic mining, as Bitmine defines it, hashrate exposure is secured via futures or revenue-sharing contracts, and they do not own or operate the physical ASICs themselves. An instance of this is the 12-month forward contract with Luxor, a hashrate derivatives provider, which allowed Bitmine to pre-sell future hashrate in exchange for upfront capital to finance new ASICs. BMNR was uplisted to NYSE last month, following a 1 for 20 reverse stock split in May, and a public offering of 2,250,000 shares of its common stock at $8.00 per share. BMNR is up over 3,000% since announcing the initiation of an Ethereum treasury strategy last month. How A PIPE Capital Infusion Changes The Math For Bitmine Bitmine has had a crescendo of catalysts in the space of a month that has set off a rally for the stock: NYSE uplisting in early June, followed by the announcement of the purchase of 100 BTC for the Bitcoin treasury strategy. The 100 BTC was purchased with the $18 million raised from the public offering mentioned earlier, and an additional 54.167 BTC were purchased on June 17, bringing the company's total BTC in treasury to 154.167 BTC. Then, the most recent crown jewel of $250 million PIPE to initiate an Ethereum treasury strategy . These are well-timed announcements, if you ask me. Bitmine has also launched a Bitcoin Treasury Advisory Practice , an expansion into potential higher-margin service offerings. As part of this push, the company signed a $4 million deal with a U.S.-listed firm to lease 3,000 ASIC miners through 2025 and provide $800k worth of consulting services focused on Bitcoin Mining-as-a-Service (MaaS) and corporate treasury strategy. According to management, this single deal surpasses Bitmine's total FY24 revenue which was $3.3 million, suggesting that advisory services could become a meaningful growth driver for the company. In the recently released financials of Bitmine's latest 10-Q , which is for fiscal Q3 2025, there are several interesting line items in the analysis of the capital structure of Bitmine. I'll also show how the announced $250 million PIPE raise is the most significant and transformative event in the history of the company by integrating the impact into the balance sheet of the company. Income statement (10-Q) On the income statement for FQ3, we can see the emergence of consulting revenue of $35k. Though it is still a small figure compared to total revenue, its emergence on the income statement is still evidence of Bitmine's new Bitcoin treasury advisory business line. Another consideration is that the majority of the consulting revenue from the $4 million deal is still unrecognized, hence the large increase in Customer Advances line on the balance sheet. Balance sheet (10-Q) One noteworthy line on the balance sheet is the over 100% increase in customer advances, jumping from $703k to $1.8 million YoY, clearly showing upfront payments for services yet to be rendered, a direct reflection of the new revenue streams. Beyond this, the balance sheet also shows a substantial increase in cash and cash equivalents, rising from $499k to $1.4 million. Cryptocurrencies held also increased from just $78k about a year ago to $1.2 million as of FQ3 end in May. Current assets increased from $1.56 million to $2.18 million, and that number is likely to jump significantly when the $250 million PIPE closes and most of the proceeds go to the planned Ethereum treasury holdings. And considering that the fund is from a PIPE equity raise, there will likely not be a matching increase in current liabilities. That would put Bitmine's balance sheet on a relatively similar attractive footing with peers that have also adopted a BTC and ETH treasury strategy like Bit Digital ( BTBT ). But for now, and based on the FQ3 results, Bitmine's balance sheet lacks significant underlying financial strength in short-term liquidity. To make the situation worse, loans payable to related parties and the interest accrued on these related party loans are about $2.4 million in total. This alone exceeds the $2.18 million total current assets of the company, which is an alarming concern. Bitmine appears to be a highly leveraged business. Total shareholders' equity in the FQ3 balance was $2.9 million. This makes up about 35% of the $8.3 million in total assets, while the remaining ~65% ($5.4 million of total assets) are funded by liabilities. Bitmine's debt-to-equity ratio ($5.4 million / $2.9 million) is currently 1.87. For every dollar of owner's capital, Bitmine has roughly $1.87 in debt. This high leverage is on the verge of being rectified. $250 million from the PIPE means equity will increase by roughly that amount, which will cause the debt-to-equity ratio to plummet and deleverage the company's balance sheet. Shareholders' equity breakdown (10-Q) Bitmine's FQ3 balance sheet shows a significant Accumulated Deficit of $13.9 million, which is the cumulative net losses the company has incurred over its history, and this directly erodes the total Stockholders' Equity because it is recorded as a negative component of equity. While the company has managed to raise substantial capital in the past, evidenced by the $16.8 million in Additional Paid-in Capital [APIC], this capital has largely been offset by the company's historical net losses, leaving a net shareholders' equity of only $2.9 million. The shareholders' equity would have been larger if not for the accumulated deficit. Here's where the PIPE funds play another vital role in Bitmine's capital structure, as it will certainly swell the APIC and in turn swell total equity. Almost every dollar will go into the APIC line as the $4.50 price from the PIPE is significantly above the nominal par value of BMNR ($0.0001 per share). If we infuse the ~$250 million into the APIC, it will surge to over $266.8 million (from the current $16.8 million), leading to a massive increase in total equity. With Bitmine's total shareholders' equity of $2.9 million, a net loss of, say, $2 million in a quarter, would wipe out a significant portion (over 60%) of its equity. But with the ~$250 million injection into the equity, the total equity becomes ~$252.9 million; and under this new equity base, if the company still loses $2 million in a quarter, that loss would represent only a tiny fraction (less than 1%) of its new equity base. This significantly increases the company's financial resilience and provides a substantial buffer against future operational losses. Like I said earlier in this piece, the $250 million from the PIPE is the crown jewel and game-changer for Bitmine. The current capital structure of the company, characterized by high leverage and a small equity base largely eroded by accumulated deficit, but the PIPE fundamentally transforms this by infusing massive equity, drastically reducing reliance on debt, and enabling all of the company's strategic pivot. By the time FQ4 results are released and the new capital structure is reflected, I believe Bitmine will have a more attractive balance sheet and greater financial flexibility, like several of its peers. BMNR is up a lot lately and for good reason; the market has reacted to the $250 million PIPE and the ETH treasury strategy. My main goal in this piece has been to help readers understand the nuances beyond just the fresh injection of funds for ETH purchase for treasury purposes. The ETH pivot is what the market has largely reacted to. But beyond that pivot, I've shown the dramatic transformation of the company's capital structure and the journey toward enhanced liquidity and financial resilience. BMNR price trend (Seeking Alpha) Bitmine currently holds ~154 BTC, which has a carrying value of $16.6 million at the current $107,700 per BTC spot price as of July 4, 2025. Then, assuming it buys ETH with the total $250 million from the PIPE, that would give a total crypto assets holdings value of around $266.6 million (if we add the ETH purchase to the BTC holding). At BMNR current market cap of $877 million, BMNR's pro forma price-to-hold ratio (stock price against the per-share value of their crypto holdings) would be 3.29x. If we consider only the current BTC and do not include projected figures for the ETH treasury, we'd have a 52.82x ($877 million / $16.6 million) p/hold multiple for BMNR. This is in very expensive territory and not on the side of undervaluation to net asset value when compared to crypto treasury peers with stronger visibility and more robust core operating businesses, like Strategy ( MSTR ), Riot Platforms ( RIOT ), or MARA. This reinforces that BMNR is expensive at the current price level. Top 5 Bitcoin treasury holdings ( bitcointreasuries.net) MSTR currently trades at a p/hold multiple of 1.76x, MARA trades at 1.16x, and RIOT trades at 2.10x (you can get each of these p/hold numbers by dividing the market by the dollar value of the Bitcoin holdings for the respective companies). Bitmine's current p/hold is way more expensive and even the pro forma p/hold of 3.29x still suggests a notable premium relative to its digital asset holdings, especially if we consider the fact that all the aforementioned companies in the p/hold comp in this analysis all have way more robust core businesses and substantial revenue compared to Bitmine's. I am therefore initiating coverage on BMNR with a Hold rating. As an investor, I'll be closely monitoring how the company deploys the fresh capital, grows its treasury assets, and executes on its core Bitcoin mining operations. These all will be key indicators of whether Bitmine can transition from speculative upside to sustainable value creation, and whether its current valuation can eventually justify a long-term investment thesis.
Bitcoin price closed at $108,199 on July 5, 2025, positioning the asset within a tight intraday range of $107,386 to $109,117. With a market capitalization of $2.151 trillion and a 24-hour trading volume of $21.145 billion, bitcoin continues to consolidate under key resistance amid muted directional conviction. Bitcoin On the 1-hour chart, bitcoin displayed a
The post Singapore Slams Banks, Crypto as $3B Money Laundering Scandal Ends appeared first on Coinpedia Fintech News In one of the biggest financial enforcement moves in its history, Singapore has fined nine major financial institutions a total of S$27.5 million (US$21.5 million) for failures in anti-money laundering (AML) controls. This comes in the final chapter of a S$3 billion money laundering scandal that rocked the city-state in 2023. The Monetary Authority of Singapore (MAS) confirmed the penalties on Thursday, naming global banks like Credit Suisse, UBS, Citibank, UOB, Julius Baer, LGT Bank, and asset manager Blue Ocean among those penalized. Yes, this is serious. Read on for the details! The Assets That Sparked the Crackdown This massive case first surfaced in August 2023, when police raided multiple properties and arrested ten Chinese nationals, later linked to organized criminal groups. Authorities uncovered billions in illegal funds tied to luxury real estate, cash, and cryptocurrencies. The individuals were later sentenced to prison terms between 13 and 17 months, deported after serving time, and permanently banned from returning to Singapore. Credit Suisse Fined the Most Among the banks involved, Credit Suisse’s Singapore branch received the largest fine of S$5.8 million. MAS cited “poor or inconsistent implementation of AML controls” as the reason. Others, like UBS, Citi, and UOB, were also fined for similar lapses. UOB, Singapore’s third-largest bank, said it has already taken corrective steps to strengthen compliance. MAS has also issued prohibition orders lasting up to six years against four individuals linked to the case. This is Singapore’s most serious regulatory action since 2016, when the MAS shut down BSI Bank over its role in the 1MDB scandal. Crypto Is Being Closely Watched While the focus is on traditional banks, crypto had a role to play. Some of the seized assets were in cryptocurrencies, pulling the digital asset sector into the spotlight once again. And it’s happening at a time when Singapore is tightening crypto regulations. Under new rules that kicked in this June: Crypto firms offering overseas services must be licensed under the FSMA by June 30, 2025 Retail investors are banned from using credit or receiving incentives Transactions over SGD 1,500 require full ID checks under the Travel Rule DeFi frontends and wallets that serve retail users or earn from token-based services may now fall under MAS oversight Crypto innovation is welcome, but not without strong compliance. A Warning Shot to Banks and Crypto Firms Singapore is raising the bar on financial integrity. And as crypto becomes more embedded in the global financial system, these rules aren’t just for banks anymore. The MAS is trying to build a system where trust is the most important. It will be interesting to see the results of this crackdown.
Ethereum’s co-founder Vitalik Buterin emphasizes the network’s unparalleled stability and institutional appeal during a CNBC interview at Cannes, underscoring the importance of reliability over scalability. Institutional investors increasingly prioritize Ethereum’s
Shiba Inu (SHIB) is back in the spotlight after whale investors scooped up 10.4 trillion tokens worth $110 million, sparking a surge in on-chain activity and bullish technical signals. After a sharp decline and waning investor confidence, whales are now accumulating billions in SHIB, reigniting short-term price and market optimism. Despite Shiba Inu’s prolonged consolidation, a sudden spike in on-chain activity has caught the market by surprise. For instance, Shiba Inu’s transaction volume soared to 24 trillion SHIB in early June, with whale activity surging 600%. This striking on-chain spike may be the reason why bullish momentum is starting to build, given that SHIB has already enjoyed a 4.3% increase over the past 24 hours, trading at $0.00001182. SHIB’s Golden Cross Pops Up According to market analyst Kryll, Shiba Inu is witnessing a golden cross amid intensified whale accumulation. Why is this bullish? Well, a golden cross happens when the 50-day moving average (MA) crosses above the 200-day one, signalling a potential trend reversal from bearish to bullish. Therefore, Shiba Inu’s short-term price momentum is gaining strength, which has the potential to boost sentiment through positive market psychology. Technical analyst Tom Tucker added , “SHIB is trading just above its YTD low, with a double-bottom pattern forming. Exchange supply is dropping, futures open interest is rising, and a BTC rally could add fuel.” Source: Tom Tucker Meanwhile, the Shibarium team recently unveiled a major upgrade aimed at boosting decentralization, privacy, and censorship resistance. Soon, rate limits will be enforced on public Remote Procedure Call (RPC) endpoints, marking a key move toward a more secure and resilient Shiba Inu network.