- Shibarium, Shiba Inu’s layer-2 network, saw a remarkable 50% surge in active accounts within 24 hours.
- Despite the spike in Shibarium activity, SHIB token’s price remained at $0.00000950.
- The increase in active Shibarium participants primarily came from established platform accounts rather than new users.
Shiba Inu’s layer-2 network Shibarium experienced a remarkable spike in active accounts, surging 50% higher in 24 hours. The data highlights a disconnect with SHIB’s token price. Still, the mounting on-chain activity spotlights Shibarium’s strengthening ecosystem.
Figures from the monitoring site Shibariumscan show the tally of active Shibarium participants jumped to 732 in the latest day. Critically, the expansion seems mostly attributable to increased engagement by established platform accounts instead of an influx of newcomers.
The budding network now boasts 63,714 total accounts and over 1.351 million associated addresses. Plus, daily transaction volumes recently crossed 2 million, confirming amplified usage.
Shiba Inu eyes to delete a zero
As activity explodes on Shibarium, the story diverges for Shiba Inu’s SHIB token itself lately. Over the same 24-hour stretch as accounts surged on its custom blockchain, SHIB’s price stood at $0.00000950.
A possible silver lining emerged as SHIB found support around $0.0000092 during its pullback. If the level continues to hold up, it could allow the volatile meme coin to consolidate constructively before igniting its next potential rally phase.
So while short-term trading activity displays bearishness currently, strengthening network fundamentals evident in the dramatic account growth highlights burgeoning longer-term utility. And if developers can channel that expanding real-world usage into compelling tokenomic upsides like token burns, SHIB’s prevailing winds may shift favorably again soon.
For now, mixed signals abound as transactions increasingly migrate onto Shibarium, but investors take chips off the table after recent SHIB runs. Still, by cementing crucial support this week, the asset could consolidate constructively again before launching another assault on major upside barriers. SHIB remains a spectacle, either captivating or confounding onlookers with its every move.
