Shiba Inu’s Shibarium Sees Triple-Digit Surge Across Major Metrics, What’s Going On?



Key
Shibarium
metrics
suggest
the
Shiba
Inu
ecosystem
might
be
gearing
up
for
a
push
to
the
upside.
Notably,
Shibarium’s
transaction
data
has
seen
triple-digit
percentage
jumps
in
transactions
and
fees
paid
in
BONE
over
the
past
week.
This
suggests
Shiba
Inu
might
be
receiving
increased
attention
from
traders,
a
scenario
that
may
result
in
SHIB


rebounding
at
a
crucial
support
level


during
the
course
of
the
week.

Shibarium
Sees
Massive
Surge
In
Activity
Over
the
Weekend


According
to
the


latest
data
,
transactions
on
the
Shibarium
network
exploded
over
the
weekend,
soaring
a
whopping
441%
on
Saturday.
Over
13,190
transactions
were
recorded
on
Shibarium
on
Saturday,
up
from
just
under
3,500
earlier
in
the
week.
The
massive
surge
in
activity
led
to
higher
fees
on
the
network
as
it
strained
under
the
increased
load.

How To Get Free Crypto  


Related
Reading


Consequently,
the
average
fees
paid
in
BONE
on
Shibarium
transactions
jumped
176%.
Furthermore,


data
from
Shibariumscan


indicates
that
154
new
accounts
were
created
on
Sunday,
a
1,600%
increase
from
9
new
accounts
created
on
Monday,
June
10. 

Source:
X


Interestingly,
these
numbers
are
small
compared
to
metrics
recorded
on
Shibarium


earlier
in
the
year
.
However,
their
increases
have
come
during
a
particularly
bearish
period
for
the
Shiba
Inu
community.
This
is
a
positive
sign
for
SHIB
price,
as
the
increase
in
transactions
increases
the
amount
of
gas
fees,
which
in
turn
increases
the
number
of
SHIB
tokens
to
be
burned.

Current
State
Of
Shiba
Inu


At
the
time
of
writing,
SHIB
is
trading
at
$0.00002013
and
is
currently
down
by
2.21%
in
the
past
24
hours.
Notably,
SHIB
has


declined
for
the
past
seven
days


amidst
a
wider
market
price
drop
led
by
Bitcoin.
Consequently,
SHIB
has
lost
13.11%
of
its
market
cap
in
the
past
seven
days
as
traders
continue
to
exit
their
long
positions.

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SHIB
now
finds
itself
trading
around
the
psychological
$0.000020
price
zone
and
could
even
break
down
further
despite
Shibarium’s
transaction
surge
over
the
weekend.
According
to


data
from
IntoTheBlock
,
only
about
3.97
trillion
SHIB
tokens
purchased
by
5,270
addresses
serve
as
resistance
at
this
price
level.
If
SHIB
fails
to
defend
this
support
and
breaks
below,
the
next
key
level
is
at
$0.000190,
where
4,310
addresses
are
currently
holding
6.21
trillion
SHIB
tokens.


Related
Reading


Lucie,
Shiba
Inu’s


marketing
lead
,
recently
hinted
at
an
airdrop
for
everyone
who
bridged
to
Shibarium
in
the
first
year,
sparking
interest
from
Shib
enthusiasts.
Nevertheless,
Lucie
provided
clarification
and
noted
that
this
is
merely
an
imaginary
scenario
and
does
not
guarantee
anything.


“THIS
IS
A
HYPOTHETICAL
QUESTION
PROMISING
NOTHING.
JUST
WONDERING,”


Lucie
said
on


social
media
platform
X.

SHIB
price
succumbs
to
bears
|
Source:

SHIBUSDT
on
Tradingview.com

Featured
image
from
Coinfomania,
chart
from
Tradingview.com

Go to Source
Author: Scott Matherson


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