Shibarium Network Performance
The Shiba Inu Layer 2 network Shibarium, which runs on the Ethereum blockchain, has faced performance fluctuations since its launch. These fluctuations could potentially impact the SHIB price, so it’s essential to understand how the network’s performance affects the overall ecosystem.
New Blocks Created Crashes
The number of blocks created on a network is a key indicator of its usage. A drop in activity results in fewer new blocks being created, which is precisely what has happened with the Shibarium network. Data from ShibariumScan shows a significant decrease in new block creation over just two days, signaling a potential issue for the network.
Block creation peaked on November 7 but has since steadily declined, with a 38.25% drop so far. Additionally, the average block size has increased, while new and active accounts have also decreased, indicating a broader problem within the network.
Effect On Shiba Inu Price
While the decline in new Shibarium blocks may be concerning for the network, it’s not necessarily linked to the recent downtrend in Shiba Inu’s price. The broader decline in Bitcoin’s price has influenced other assets, including SHIB. However, despite this, SHIB’s trading volume has increased by over 40%, demonstrating continued interest in the meme coin.
Currently trading at $0.00000815, SHIB remains under bullish control. A potential rebound in Bitcoin’s price could further drive SHIB’s upward trend in the coming days.
Hot Take: Potential Impact of Shibarium Network Fluctuations
The recent fluctuations in the performance of Shibarium could have wider implications for both the network and SHIB holders. It is crucial for investors and stakeholders to closely monitor these developments and assess their potential impact on SHIB’s price and overall market sentiment.
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