Shiba Inu milestone – Shibarium transactions reach $600 mln

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  • Shiba Inu milestone marked as Shibarium surpasses 600M transactions and 2M addresses.
  • Shibarium’s TVL hits $6M, marking another milestone.

As a seasoned analyst with years of experience navigating the crypto market, I find myself intrigued by the latest milestones achieved by Shiba Inu’s Layer-2 solution, Shibarium. The surge in transactions and addresses, coupled with the unprecedented growth in Total Value Locked (TVL), is a testament to its expanding utility within the broader Shiba Inu network.

The layer-2 solution for Shiba Inu, known as Shibarium, has achieved significant milestones in terms of transactions and user addresses. Notably, the Total Value Locked (TVL) in Shibarium has peaked to a record high, underscoring its growing practicality.

The growing influence of Shibarium is a key area of interest for investors, as it affects the value and market dynamics of SHIB.

Shiba Inu milestone in L2

Just a moment ago, I’d like to highlight an exciting achievement by Shiba Inu’s network, Shibarium! In the last seven days alone, it has processed more than half a billion transactions. Isn’t that fantastic?

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As of this writing, the transactions have crossed another milestone, going over 600 million. 

Moreover, the second language platform has achieved another significant milestone, reaching over 2 million registered user accounts. Additionally, the number of daily active users has significantly increased in recent days, peaking at more than 12,000 on the 8th of December.

However, it has declined as of this writing, dropping below 2,000.

Shibarium TVL explodes

Based on the available information, it appears that the Total Value Locked (TVL) in Shiba Inu’s Shibarium has experienced an extraordinary surge, reaching well over $6 million – a previously unattained height within its own ecosystem.

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This growth indicates that users are growing more confident in Shibarium’s ability to scale effectively within the wider Shiba Inu ecosystem.

The increase in Total Value Locked (TVL) coincides with a steady rise in the network’s transaction activity, implying that the platform’s usefulness is growing at an accelerated pace.

SHIB correlates with Shibarium’s traction

As Shibarium became more active, the value of SHIB coins saw a significant increase. Starting from around $0.000017 in June midway through, SHIB’s price climbed up to over $0.000027 by early December. This rise mirrored growing investor enthusiasm and advancements within the Shibarium ecosystem.

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In contrast, the recent drops in SHIB’s price suggest that we are currently experiencing a period of market consolidation. Given Shibarium’s latest achievements, will SHIB be able to maintain its bullish trend amidst broader market volatility?

What lies ahead for SHIB?

Regardless of its temporary dip, Shiba Inu (SHIB) has been maintaining an impressive upward trajectory on the daily chart. The 50-day moving average functioned as a base at $0.00002357, potentially serving as a launchpad for continued bullish energy.

The Relative Strength Index (RSI) stood at 50.60, suggesting no clear trend direction, yet there’s potential for a rise if demand from buyers picks up again.

Currently, there’s been a slight decrease in trading activity, hinting that traders are waiting for a clear breakthrough beyond the significant resistance level at $0.000030, which could indicate a potential price surge.

SHIB’s price movement appears closely tied to the continued success of Shibarium.

A boost in the ecosystem, whether it’s an upward trend in Total Value Locked (TVL) or the formation of new collaborations, might ignite renewed curiosity among investors.

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2024-12-11 03:03