Shibarium Sets New Transaction Record on Layer-2 Blockchain
Shibarium, a Layer-2 blockchain, has achieved a new all-time high (ATH) in transaction count. Data from the Shibariumscan explorer reveals that the total number of transactions has surpassed two million, currently standing at 2,328,690. This milestone comes shortly after the blockchain’s resumption. As the user base continues to grow, Shibarium consistently reaches peak levels and sets new records.
Technical Analysis Indicates Bearish Sentiment for SHIB
From a technical standpoint, SHIB is currently trading below its 200-day simple moving average, suggesting a prevailing bearish sentiment in the market. Over the past month, SHIB has experienced only eight green trading days, accounting for just 27% of the observed period. This indicates a relatively turbulent market sentiment for the cryptocurrency.
SHIB’s Performance and Market Position
SHIB has exhibited significant price volatility over the past year, with a downturn of approximately -43%. In comparison to the top 100 cryptocurrencies, SHIB has underperformed by 61% within the one-year timeframe. Additionally, the cryptocurrency has retraced -92% from its all-time high. Despite this, SHIB maintains a moderate level of liquidity and trading activity within the broader crypto landscape.
Hot Take: Shibarium Continues to Reach New Heights
The trend of Shibarium consistently achieving peak levels and surpassing previous records persists, establishing new all-time highs. With its growing user base and notable transaction count, Shibarium demonstrates its potential as a prominent player in the crypto space.
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