Is SHIB Price In Danger Of Dropping? Key Shiba Inu Metric Tanks Up 70%: Details
TL;DR
- Shibarium’s activity has decreased significantly, with daily blocks and transactions dropping by over 50% recently.
- SHIB’s burn rate has increased due to market volatility, with the token’s price down 1.3% in the last 24 hours and 4% over the week.
shiba inu’s layer 2 blockchain solution, Shibarium, has been among the trending topics in the crypto space, passing numerous milestones over the past few months. However, the network’s progress has recently stalled.
Data demonstrations with only 5,740 new blocks processed July 2 at Shibarium. This representing a drop of almost 70% compared to the 17,214 witnessed the previous day.
Additionally, daily transactions fell from 14,000 on June 30 to around 6,000 two days later. The scale is far from its bright days in mid-April.At that time, Transactions on a daily scale were in the millions.
Shibarium officially I saw the light of day in August last yearaiming to raise Shiba Inu meme industry money above its competitors. Designed for this purpose reduce transaction costs, increase speed, and improve scalability.
The protocol has undergone two major upgrades in the last few months. First, the team behind it started A new user interface (UI) upgrade described as “faster, smoother and more accessible than ever before.” Mother Its purpose was to allow compatibility with popular personal custody wallets such as MetaMask, Coinbase Wallet, and Trust Wallet.
Shortly after, developers was introduced Another advancement through a hard fortress. Its purpose was to improve the user experience, strengthen the community, and implement faster block processing times.
For those who want to learn more about Shibarium, feel free to check out our special video below:
SHIB in decline
Another mother development surrounding the second largest meme coin conditions is the total market capitalization burn rate; Exploded It increased by over 8,500%.
It is worth noting that The indicator may have risen rapidly as traders rushed to liquidate their positions due to SHIB’s increased price volatility and the current market uncertainty. After all, a percentage of the tokens sent to a blank address in every transaction.
SHIB is down 1.3% in the last 24 hours and 4% on the week. Other leading meme coins, such as dog hat (WIF), pepe (PEPE), bonk Inu (BONK) and many other companies recorded even more serious losses.
Be sure to check out our Shibarium news for more updates on the ecosystem.
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