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Is SHIB Price Ready to Erase Zero? Shiba Inu’s Shibarium 141% Spike May Signal It

1 Mins read

In a surprising turn of events, Shiba Inu’s Layer-2 blockchain solution, Shibarium, experienced a phenomenal surge in transaction activity over the last 24 hours.

Shibariumscan data revealed an extraordinary spike, with the number of processed transactions skyrocketing from 4.37 million to an impressive 6.19 million — a staggering increase of more than 141% in just one day.

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Source: Shibariumscan

This unexpected surge comes at a crucial time for Shiba Inu, as the cryptocurrency had witnessed a decline in activity in recent weeks, with daily transactions dropping from 7.52 million to less than 4.5 million since the close of 2023, marking a low point lasting over a month.

However, the sudden spike in Shibarium’s transaction activity has injected new life into the Shiba Inu ecosystem, leaving industry observers speculating about the future trajectory.

Is SHIB ready?

Simultaneously, the price of Shiba Inu’s native token SHIB displayed notable dynamics. Recovering impressively by more than 19% after a recent large-scale dip, SHIB managed to climb back to $0.00000984. While still shy of a more attractive figure with only four zeros after the decimal point, this recovery raises questions about the potential for SHIB to erase one of those zeros.

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SHIB to USD by CoinMarketCap

The focal point of attention now centers around whether this surge in Shibarium’s transaction activity is indicative of a sustained recovery or merely a short-term rebound for Shiba Inu.

The community eagerly awaits to see if the Shiba Inu token can regain its momentum amid renewed activity in Shibarium, prompting the question: Is the SHIB price ready to erase a zero?

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Harry is a crypto enthusiast and experienced trader with a track record of success. With a deep understanding of blockchain technology, he has analyzed market trends and identified profitable opportunities, resulting in impressive returns. Harry 's expertise lies in developing effective trading strategies that leverage the potential of cryptocurrencies. Through his articles, guides, and educational resources, he shares his insights and knowledge, helping individuals make informed trading decisions. With a keen eye for market patterns, Harry has navigated the volatile crypto landscape with confidence. Stay tuned for valuable perspectives and expert advice from Harry as he contributes to the Ailtra platform.
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