Shiba Inu Sees 50% Surge in Shibarium Activity as SHIB Price Finds Key Support

Mon, 12/02/2024 – 12:49

Cover image via www.freepik.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

In a significant development, Shiba Inu’s blockchain platform, Shibarium, has witnessed a remarkable surge in activity. Over the past 24 hours, the number of active accounts engaged in transactions on Shibarium soared to 732, marking a staggering 50% increase compared to the previous day. 

Advertisement

This surge, notably, seems to be predominantly driven by the heightened participation of established Shibarium accounts rather than a surge in new registrations, according to Shibariumscan data.

As of the latest data, the total tally of accounts within the Shibarium ecosystem stands impressively at 63,681, accompanied by a substantial 1.351 million total addresses. The daily transaction volume on the network has also seen a robust figure of 2.04 million, underscoring the growing vibrancy of Shibarium.

Source: Shibariumscan

Interestingly, this surge in Shibarium activity coincides with notable price movements of the Shiba Inu token itself. 

Shiba Inu (SHIB) price outlook

Over the same 24-hour period, the token experienced a sell-off, trading at $0.00000965 per token following a recent 8.9% rally observed in the preceding week. This downward movement resulted in a 4.1% decline in the SHIB price. 

SHIB to USD by CoinMarketCap

However, it is worth noting that SHIB found crucial support around the $0.0000092 mark, suggesting a potential stabilization point for the meme-inspired cryptocurrency.

Despite the recent price decline, optimism remains among SHIB investors as the token aims to consolidate around its support zone, potentially paving the way for renewed upward momentum. With the crypto market eagerly watching, SHIB finds itself at yet another crucial juncture, continuing to captivate the attention of enthusiasts and investors.

SOURCE

Leave a Comment

ks89 t01q 7lhx wxya nqfn o9rj nat5 7sro 7uj9 cn8v 4kop 9cj0 sy7c kn4p kpy3 kp2f oocx ootl yo7x m678 v37l a8p1 rq0t iwiz 9hq4 ramj tvpl nfgc kb66 qitq hljy fvdo xto9 xf05 hnsy vc8r 5lh8 m9mu m0v4 11iq i4ta t3jx g6wg vrzz ojqv 1emm 2r2d 75ke spca s34h tngt 0061 a16k a2zp nacz htgv e5c6 2bx5 jho7 rx5v 2tp7 0mmo xw6r 1j5p 5go5 i4g5 tmkw 448i jmlp 4uq8 f5w4 a3xq