Huge Increase in Important Shiba Inu (SHIB) Metric: What Does This Mean?

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Huge Increase in Important Shiba Inu (SHIB) Metric: What Does This Mean?


TL;DR

• Some on-chain transactions of shiba inu increased, signaling increased investor interest.
• Expected updates for Layer 2 scaling solution Shibarium aim to improve transaction efficiency and user experience, potentially attracting more users and investment.

Impressive Spike


After trading in the red for several days, the price of the Shiba Inu finally flashed in the green, rising 4% on a 24-hour scale (according to CoinGecko data). SHIB’s resurgence coincides with the rise of a key metric about the memecoin ecosystem.

SHIB Price, Source: CoinGecko

Like observed Total daily volume on IntoTheBlock with each on-chain transaction exceeding $100,000, close to the $100 million mark. This It represents a 268% increase compared to data witnessed on April 29.

This type of activity could positively impact market sentiment as some investors follow the whale’s example and jump on the bandwagon.

Also important transactions It may affect SHIB’s liquidity. Large buy orders may reduce the available supply of tokens and drive the price higher if demand increases or remains constant. On the other hand, a large sell-off may have the opposite effect.

Additional Taurus Factor


Developments surrounding Shiba Inu’s layer-2 scaling solution – shibarium – can also be fuel There will be a SHIB rally in the near future. Remember that the network carried out A major upgrade was made last week, with the team introducing a new user interface (UI) upgrade that focuses on: developed Compatibility with popular personal storage wallets such as MetaMask, Coinbase Wallet and Trust Wallet.

A few days ago, developers announced He said Shibarium will be subject to another update via a “hard fork” on May 2. approaching progress It should improve user experience, speed up block processing times, and strengthen the Shiba Inu community.

“We also soften outside Transaction fee changes during times of heavy traffic make costs more predictable and fair for everyone. This It ensures that our platform remains affordable and accessible,” the team added.

Those who want to learn more about Shibarium and it Mother You can check out our special video below:


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