The blockchain solution from Shiba Inu, Shibarium, has soared by an impressive 160% in the last 24 hours, marking a significant recovery in key metrics. According to data from Shibariumscan, transactions on the network surged to a staggering 562,980 within the reviewed period, up from a mere 352,000 earlier in the day. This surge follows a recent downturn when, just two days prior, transaction volume plummeted by 63.2% from its peak of 958,500.
However, the latest uptick has reinstated Shibarium's position, with daily transactions now surpassing half a million once again.
Tomiwabold OlajideAs a result, the total number of completed transactions on Shibarium since its launch in August 2023 has reached a whopping 415 million. In addition, we can mention an impressive 100,000 in the number of accounts - 1.782 million addresses.
Apart from the number of daily transactions experiencing significant perturbations in Shiba Inu's network from day to day, the other metrics of this blockchain remain more stable in their performance.
The anomalous activity on Shibarium can be interpreted differently, but what is certain is that there is interest in the project. At least because conventional wisdom says that bursts of activity in blockchain are precursors to major price movements in tokens related to this crypto ecosystem.
As such, it will be interesting to see what happens to SHIB and BONE in the near future against the backdrop of this roller coaster ride at the Shibarium.
Arman Shirinyan
Alex Dovbnya
U.Today Editorial Team
Vladislav Sopov
Dan Burgin