Advertisement
AD

Main navigation

Is SHIB Price Ready to Erase Zero? Shiba Inu's Shibarium 141% Spike May Signal It

Advertisement
Fri, 5/01/2024 - 9:44
Is SHIB Price Ready to Erase Zero? Shiba Inu's Shibarium 141% Spike May Signal It
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.

Read U.TODAY on
Google News

In a surprising turn of events, Shiba Inu's Layer-2 blockchain solution, Shibarium, experienced a phenomenal surge in transaction activity over the last 24 hours.

Advertisement

Shibariumscan data revealed an extraordinary spike, with the number of processed transactions skyrocketing from 4.37 million to an impressive 6.19 million — a staggering increase of more than 141% in just one day.

Article image
Source: Shibariumscan

Related

This unexpected surge comes at a crucial time for Shiba Inu, as the cryptocurrency had witnessed a decline in activity in recent weeks, with daily transactions dropping from 7.52 million to less than 4.5 million since the close of 2023, marking a low point lasting over a month.

Advertisement

However, the sudden spike in Shibarium's transaction activity has injected new life into the Shiba Inu ecosystem, leaving industry observers speculating about the future trajectory.

Is SHIB ready?

Simultaneously, the price of Shiba Inu's native token SHIB displayed notable dynamics. Recovering impressively by more than 19% after a recent large-scale dip, SHIB managed to climb back to $0.00000984. While still shy of a more attractive figure with only four zeros after the decimal point, this recovery raises questions about the potential for SHIB to erase one of those zeros.

Article image
SHIB to USD by CoinMarketCap

The focal point of attention now centers around whether this surge in Shibarium's transaction activity is indicative of a sustained recovery or merely a short-term rebound for Shiba Inu.

Related

The community eagerly awaits to see if the Shiba Inu token can regain its momentum amid renewed activity in Shibarium, prompting the question: Is the SHIB price ready to erase a zero?

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD