Shibarium’s Transaction Surge
Shibarium, the layer-2 blockchain for Shiba Inu, has experienced a significant increase in daily transactions. Over the past ten days, the number of transactions has ranged between 5 million and 7.9 million, surpassing a total of 80 million transactions.
SHIB Price Decline Amid Market Downturn
Despite the growth of Shibarium, the price of Shiba Inu has dropped by 3% recently, reflecting the overall decline in the crypto market.
Potential Growth for SHIB
Shiba Inu has seen a 15% rise over the past two weeks, indicating potential for further growth according to analysts like Ali on Twitter.
Shibarium’s Rise to Prominence
The popular memecoin, Shiba Inu, has garnered attention due to its layer-2 blockchain solution known as Shibarium. In recent days, the network has experienced a surge in daily transactions, ranging from 5 million to 7.9 million. The total number of transactions has now surpassed 80 million.
In addition to this milestone, Shibarium has also reached over 2 million total blocks according to Shibariumscan.
The development of this scaling solution is seen as a potential catalyst for a price rally in SHIB. However, the price of the asset has recently decreased by approximately 3%, following the correction in the broader cryptocurrency market.
This decline has impacted some SHIB investors, with only 23% currently holding paper profits and 62% in the red based on IntoTheBlock data.
SHIB’s Growth Potential
Despite the recent price decrease, Shiba Inu has seen a 15% jump over the past two weeks. This surge has caught the attention of analyst Ali on Twitter.
Ali highlights SHIB’s impressive performance over the past three months, suggesting that it has remained relatively quiet during the altcoin season. The analyst also believes there is potential for further growth in this memecoin.
Hot Take: Shiba Inu’s Journey Continues
Shiba Inu’s layer-2 blockchain solution, Shibarium, has experienced a significant increase in daily transactions and total blocks. While the price of SHIB has declined recently, there is still potential for growth according to analysts. As the crypto market evolves, it will be interesting to see how Shiba Inu and its ecosystem continue to develop and capture the attention of investors.
By
By
By
By
By
By