Stranger things continue to happen in the Shiba Inu (SHIB) realm, according to the latest on-chain data for the Shibarium layer-2 solution.
According to statistics from Shibariumscan, the number of new transactions has increased by more than 644.8%, jumping from 1,736 to 11,194 in the last 24 hours. This is the largest increase in a key metric for Shibarium's own blockchain in over a month.
Gamza KhanzadaevIn addition, Shibarium has seen an increase in the number of daily active accounts per reporting period. The number rose from 237 to 1,103, symbolizing an increase of 465.4% over the given period.
The spike in both transactions and active accounts in the last 24 hours is a clear indicator of the increased activity that has stormed the blockchain of the popular meme-inspired cryptocurrency.
Why?
The reasons behind the surge could be several. For instance, one of them could be the recent success of sunpump - a "fair launch" platform recently launched on the Tron network.
Although the connection to Shiba Inu is indirect, the launch of the platform and its endorsement by Justin Sun, Tron's founder and a major SHIB holder, may have sparked the interest of investors and traders in Shibarium as another place to look for undervalued meme tokens.
Another reason may be the recent price gains of the Shiba Inu token. In the last 24 hours, the price of SHIB has increased by more than 4%. As a result of this price movement, the Shiba Inu token has once again moved above $0.000013.
What is next for Shiba Inu and Shibarium? That is an open question. But the Shiba Inu ecosystem is definitely one to watch right now.
Godfrey Benjamin
U.Today Editorial Team
Vladislav Sopov
Dan Burgin