In a surprising turn of events, Shibarium, the Layer-2 blockchain solution designed for the popular meme-inspired cryptocurrency Shiba Inu (SHIB), has witnessed an extraordinary surge of 80% in network activity overnight. Data sourced from Shibariumscan indicates an unprecedented spike, with daily transactions skyrocketing from 1.07 million to a staggering 1.92 million.
This sudden escalation in network activity often signals potential price fluctuations in associated cryptocurrencies. Correspondingly, this surge aligns with a sustained upward momentum in the price of SHIB.
Shiba Inu (SHIB) price reaction
Over the past two partial weeks, SHIB has showcased a remarkable increase of over 11.11%, ascending from $0.0000088 to $0.0000098, marking an impressive 6.35% rise since the commencement of this week.
Currently valued at $0.0000098 per token, SHIB sits just 2% below the coveted $0.00001 threshold. With another succession of positive price movements represented by green candles on its price chart, the prospect of surpassing that symbolic zero appears increasingly plausible for Shiba Inu.
These recent developments have injected a renewed sense of enthusiasm into the realm of meme-inspired cryptocurrencies. The looming question remains: Will Shibarium’s surge in transaction activity sustain its momentum amid the ongoing SHIB price rally?
The answer to this query remains uncertain, but one thing is evident — all eyes are firmly fixed on Shiba Inu in the days ahead as both Shibarium and SHIB continue to capture the attention of enthusiasts worldwide.
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