According to reports from PANews, BullX officially paused trading functionality in its current application starting June 1, 2026, at 00:00 UTC. The platform, known as a popular meme trading tool for accessing tokens across decentralized markets, announced the suspension through its official Discord channel. The team stated that this pause allows them to shift resources toward future work and improvements for the next version of the platform, though no specific timeline for the new version's launch has been provided.
As reported by PANews, BullX confirmed that wallet functionality will continue to operate normally during the trading pause. The platform emphasized that withdrawals, allocations, and other wallet management features will remain available to users. This means traders can still manage their funds and access wallet tools even though the current app's trading functionality has been suspended. The team specifically stated that user wallets will not be frozen, with the notice designed to separate trading access from wallet control capabilities.
According to recent market data, Shiba Inu (SHIB) faces a severe supply crisis with 580 billion tokens leaving exchanges within a single week, bringing exchange reserves to approximately 80 trillion tokens - the lowest level recorded in 2026. A major whale transaction on May 10 added to this trend as one whale moved 134 billion SHIB from Binance, a transfer that market watchers interpret as accumulation rather than distribution. This dramatic supply reduction creates conditions where price moves faster during demand spikes as sellers lose short-term control of token availability. Despite these bullish on-chain signals, SHIB continues to trade 93% below its peak level, with prices struggling near key support zones.
According to previous reports from crypto.news, X suspended several accounts tied to the memecoin sector in June 2025, including Pump.fun, BullX, Bloom Trading, and GMGN. The affected accounts were primarily linked to bot systems or automated trading tools used for token launches, early purchases, and meme coin position management. Separate coverage from crypto.news in March 2026 revealed that nearly half of Pump.fun traders ended that month with net losses, with on-chain data tracking approximately 1.4 million wallets showing that around 96% of wallets either lost money or made less than $500.
