- Shibarium hits new heights with over half a million daily transactions and more than 230,000 wallets.
- The booming activity in Shibarium may have a ripple effect on SHIB’s price, which could potentially soar to $0.0001.
Just when we thought the Shiba Inu ecosystem couldn’t get any more exciting, new data reveals that Shibarium is gaining traction like never before. It has skyrocketed to a staggering 510,221 daily transactions and 230,521 wallets just after its public relaunch. Talk about a breakout moment!
The Second Coming of Shibarium
The explosive uptick in Shibarium activity comes on the heels of its successful relaunch, which addressed initial hiccups encountered during its first launch. This rejuvenated version aims to bring considerable utility to the Shiba Inu ecosystem, from slashing transaction costs to improving transaction speeds. Although designed to bolster the ecosystem rather than solely pumping up the SHIB price, its potential influence on the digital coin is turning heads.
What Does It Mean for Shiba Inu’s Price?
The conversation inevitably turns to Shibarium’s impact on Shiba Inu’s price. While the primary focus of Shibarium is ecosystem enrichment, the surge in its transactions and wallet numbers could potentially serve as a catalyst for SHIB’s value. The Crypto Basic reported that the number of Shibarium wallets had previously hit a milestone of 100,000, up from 48,000 the week before, showing a rapidly growing interest.
Level of Adoption: The Real Game-Changer
Let’s not overlook the importance of community adoption. The level of Shibarium’s impact on Shiba Inu’s price is contingent on how widely it is adopted within the crypto community. Data shows that Shiba Inu’s trading volume has ballooned by over 37.22% in the last 24 hours, securing its rank as the 19th most traded cryptocurrency among more than 20,000 coins on the market.
Tweets Fuel the Speculation
Crypto analyst and influencer Javon Marks, who goes by the Twitter handle @JavonTM1, recently added fuel to the speculative fire. He suggested that SHIB could be on the brink of setting new all-time highs, basing this on historical price patterns. Marks pointed out that Shiba Inu previously exhibited a triple bottom pattern, signaling a likely reversal of its downtrend. This pattern had led to a record-breaking high of $0.00008845 back in October 2021. Could history repeat itself?
$SHIB (#ShibaInu) may be ready to set new All Time Highs… pic.twitter.com/m2ep5PJR0L
>> Buy Shiba Inu (SHIB) quickly and securely with PayPal, credit card or bank transfer at eToro. Visit Website— JAVON⚡️MARKS (@JavonTM1) August 29, 2023
Technical Patterns Suggest Hope
Notably, Shiba Inu had earlier experienced its first bottom when the price plummeted to the $0.00000628 mark in June 2021. It briefly recovered but then dipped again, hitting a second bottom at $0.00000631 in August 2021. These technical patterns imply that SHIB might just be gearing up for another significant upward trajectory.
Could Shibarium’s thriving activity be the needed push for SHIB to reach the elusive $0.0001 mark? Only time will tell, but the signs are undeniably optimistic.
- Invest in Shiba Inu and 70+ cryptocurrencies and 3,000 other assets.
- 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
- Copy top-performing traders in real time, automatically.
- Regulated by financial authorities including FAC and FINRA.
2.8 Million Users
Get Started
Crypto News Flash does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. Crypto News Flash is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Credit: Source link
