- Shiba Inu (SHIB) transaction surged by 600% valued at $100,000.
- Despite this, the price of SHIB has dropped by 2.79% on the previous day.
Shiba Inu (SHIB) has taken the crypto world by storm with an unprecedented surge in substantial on-chain transactions. According to IntoTheBlock, a prominent blockchain analytics platform, SHIB has seen a jaw-dropping increase in transactions valued at $100,000 or more.
In the span of just 24 hours, these high-value deals involving SHIB have skyrocketed by a staggering $91 million. That marking an astonishing surge of 600%. This surge has led to an exchange of an eye-popping 8.71 trillion SHIB tokens. Driving the total daily transactions to an extraordinary 10.44 trillion.
Shibarium anticipated to be the trigger for the rise
The driving force behind this meteoric rise in on-chain transactions is believed to be the imminent launch of Shibarium. A proprietary Layer-2 solution developed by the Shiba Inu project. However, the exact launch date remains undisclosed. Still the expectations are high for the launch, anticipated to take place sometime in mid-August. The excitement surrounding this event has reverberated across the SHIB community, sparking discussions and speculations.
The SHIB Army, as the community is affectionately known, has been eagerly preparing for the potential impact of the Shibarium launch.
In addition, in recent times, the surge in substantial SHIB transactions has become a testament to the increasing interest and growing confidence among investors and community members in the future of the project. Many are hopeful that the upcoming Shibarium development could revolutionize the already popular cryptocurrency.
Further, Shiba Inu’s rise to prominence has been fueled by its playful Shiba-themed branding. And its appeal to crypto enthusiasts seeking the next potential “moonshot” investment. As the project’s ecosystem continues to grow, more attention is being drawn to the transformative potential of Shibarium. That aims to be a game-changer for the SHIB token and its broader ecosystem.
As the crypto community eagerly awaits the unveiling of Shibarium, all eyes are on SHIB’s on-chain dynamics. And the coin’s recent surge in substantial transactions has only added to the excitement and anticipation surrounding this enigmatic token. Moreover, with mid-August approaching, the crypto world braces for the next chapter in the Shiba Inu saga. Which could potentially reshape the landscape of the meme-based cryptocurrency market.
