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Author: Scott Matherson

Shiba Inu Enters Accumulation Zone Amid 493% In Shibarium Transaction Fees

The current Shiba Inu price action might be leaving some investors wanting, particularly as the crypto has now extended its 30-day losses by over 30%. However, recent on-chain data and technical analysis indicate that the patience is about to pay off. To be more specific, the current price downturn has seen Shiba Inu entering the accumulation zone, which could signal the start of the next bull run. At the same time, a concurrent 493% increase in transaction fees within the Shibarium network suggests it could be the ideal time for investors to load up. Shiba Inu Price Hits 100-Day Low As Bears Take Control The past few weeks have been a bloodbath for Shiba Inu (SHIB) holders. After rebounding at the $0.000022 support and spiking briefly to reach $0.00002756 in the last week of May, the popular meme coin has plunged over 30%, briefly crashing below $0.000017 this week. This brutal selloff has dragged SHIB to a 100-day low, wiping out billions from its market cap. Related Reading: Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000 Experts have blamed this fall on investors pulling out of meme coins. Shiba Inu wasn’t left out, as the meme coin also witnessed major transfers to crypto exchanges. From the price side of things, SHIB’s decline means traders now have the opportunity to buy at its current low prices, which may herald the reversal of the bearish trend. You would think with SHIB’s price taking a beating lately, activity on the network would be slowing down. Surprisingly, that’s not the case at all. Recent data from Shibariumscan indicates that transaction fees on the Shibarium layer-2 network have skyrocketed by 493% last week. The massive surge in transaction fees came from increased transaction activity on the network. Notably, the number of new transactions moved from 5,865 at the beginning of the week to 16,337 at the end of the week, a 178% increase. Although transaction fees on Shibarium are paid in BONE tokens, a portion of the tokens are converted into SHIB and then burned. This, in turn, reduces the amount of SHIB tokens in circulation. Whats Next For SHIB? At the time of writing, SHIB is trading at $0.00001702 and seems to be consolidating. Experts are now divided into different schools of thought about the future of meme coins, including SHIB. According to Ki Young Ju, CEO of CryptoQuant, the current downtrend suggests meme coin dominance in the altcoin market could finally be over. Related Reading: Polygon (MATIC) Turns Bullish After Losing Streak Is A 1,000% Rally Possible From Here? On the other hand, analyst Javon Marks believes Shiba Inu still has room to break to the upside, and the recent pullback could also be a contributing factor. Marks asserts that Shiba Inu is still up by 100% since its last bullish wave and it has the potential to go up by another 294%. Price targets are at $0.000081 and $0.0001553. Featured image created with Dall.E, chart from Tradingview.com

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Shiba Inus Shibarium Sees Triple-Digit Surge Across Major Metrics, Whats Going On?

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Jun 18, 2024 12:05

Shiba Inus Shibarium Sees Triple-Digit Surge Across Major Metrics, Whats Going On?

Key Shibarium metrics suggest the Shiba Inu ecosystem might be gearing up for a push to the upside. Notably, Shibarium’s transaction data has seen triple-digit percentage jumps in transactions and fees paid in BONE over the past week. This suggests Shiba Inu might be receiving increased attention from traders, a scenario that may result in SHIB rebounding at a crucial support level during the course of the week. Shibarium Sees Massive Surge In Activity Over the Weekend According to the latest data, transactions on the Shibarium network exploded over the weekend, soaring a whopping 441% on Saturday. Over 13,190 transactions were recorded on Shibarium on Saturday, up from just under 3,500 earlier in the week. The massive surge in activity led to higher fees on the network as it strained under the increased load. Related Reading: Spot Ethereum ETFs Expected To Begin Trading On July 2, Can This Propel ETH To $10,000? Consequently, the average fees paid in BONE on Shibarium transactions jumped 176%. Furthermore, data from Shibariumscan indicates that 154 new accounts were created on Sunday, a 1,600% increase from 9 new accounts created on Monday, June 10. Interestingly, these numbers are small compared to metrics recorded on Shibarium earlier in the year. However, their increases have come during a particularly bearish period for the Shiba Inu community. This is a positive sign for SHIB price, as the increase in transactions increases the amount of gas fees, which in turn increases the number of SHIB tokens to be burned. Current State Of Shiba Inu At the time of writing, SHIB is trading at $0.00002013 and is currently down by 2.21% in the past 24 hours. Notably, SHIB has declined for the past seven days amidst a wider market price drop led by Bitcoin. Consequently, SHIB has lost 13.11% of its market cap in the past seven days as traders continue to exit their long positions. SHIB now finds itself trading around the psychological $0.000020 price zone and could even break down further despite Shibarium’s transaction surge over the weekend. According to data from IntoTheBlock, only about 3.97 trillion SHIB tokens purchased by 5,270 addresses serve as resistance at this price level. If SHIB fails to defend this support and breaks below, the next key level is at $0.000190, where 4,310 addresses are currently holding 6.21 trillion SHIB tokens. Related Reading: Ethereum: 200,000 ETH Options Expiry Spurs Demand How Far Can Price Go? Lucie, Shiba Inu’s marketing lead, recently hinted at an airdrop for everyone who bridged to Shibarium in the first year, sparking interest from Shib enthusiasts. Nevertheless, Lucie provided clarification and noted that this is merely an imaginary scenario and does not guarantee anything. THIS IS A HYPOTHETICAL QUESTION PROMISING NOTHING. JUST WONDERING, Lucie said on social media platform X. Featured image from Coinfomania, chart from Tradingview.com

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Shiba Inus Shibarium Struggles As New Accounts Crash To Fresh Lows

Author: Scott Matherson

United Kingdom

Source: NewsBTC

May 23, 2025 12:10

Shiba Inus Shibarium Struggles As New Accounts Crash To Fresh Lows

Following its launch by the Shiba Inu team back in August 2023, the Shibarium network has been subject to the highs and lows of the market. Despite coming from a team with a large community, the Ethereum Layer 2 network has struggled to stay relevant in the fierce competition among Ethereum Layer 2 networks. After the initial run fueled by the anticipation of the launch, the Shibarium network is dealing with low participation as new account numbers flatline. New Accounts On Shibarium Fall Below 100 The new account metric tracks the total number of brand new accounts that are created on the Shibarium network daily. This is different from the total daily users as it only tracks new accounts and not existing accounts. It also helps to show the adoption rate as more new accounts signing up shows adoption is rising and the number falling means the opposite. Related Reading: Did Cardano Founder Steal $619 Million? Hopkinson Makes Shocking Revelation Presently, the Shibarium network is falling behind as the total number of new accounts signing up have fallen below the 100 mark. This comes after a major spike at the beginning of May 2025 when a total of 5,111 new accounts were created on May 6th alone. Since then, the number has crashed by over 99%, dropping first to just above 200 new daily accounts, before bottoming out below 100. Data from ShibariumScan shows that in the last four days, fewer than 100 new accounts have been recorded daily. This also coincides with a sharp decline in the active accounts on the network, going from over 21,000 daily at the start of May to less than 15,000% by the middle of the month. New transaction figures have also fallen with 1.87 million recorded on Tuesday compared to the 3 million average at the start of the month. Related Reading: Bitcoin Weekly Closes Above Range High Despite Crash From $107,000, Why The Bulls Are Still In Charge Shiba Inu Follows Bearish Trend The trend of low adoption recorded on the Shibarium blockchain has also been felt in other areas such as the total addresses holding the Shiba Inu token. According to IntoTheBlock, the total addresses holding Shiba Inu have seen a decline over the last couple of days. This metric went from above 1.4 million to 1.39 million addresses. A small decline, but nonetheless pointing to an exit from the cryptocurrency by investors. At the same time, the Shiba Inu price has also struggled to stay afloat at this time. Caught in a power struggle between the bears and the bulls, Shiba Inu has seen its price constrained to a tight range of $0.000014 and $0.000017. If the sell-offs continue, then the meme coin could break below the support currently being established at $0.000014. Featured image from Dall.E, chart from TradingView.com

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Shiba Inu: Zypto Becomes First DeFi Wallet to Support Shibarium and ShibaSwap

Author: Elendu Benedict

United States

Source: The Crypto Basic

May 01, 2025 03:35

Shiba Inu: Zypto Becomes First DeFi Wallet to Support Shibarium and ShibaSwap

Zypto App has introduced a new feature that allows Shiba Inu enthusiasts to access ShibaSwap and Shibarium tokens on a single platform.The all-in-one crypto wallet announced a landmark breakthrough specifically for enthusiasts of Shiba Inu and the doggy-themed meme coins ecosystem. In a tweet on Tuesday, April 29, Zypto disclosed that users can now access both ShibaSwap and Shibarium directly from its upgraded mobile application.New Features Support Shibarium and ShibaSwapShibaSwap is the Shiba Inu ecosystem's decentralized exchange, where network users can swap native tokens like BONE, LEASH, and SHIB. Notably, the platform also supports a wide range of ERC-20 tokens, including Ethereum, Aave, Chainlink, and some stablecoins.Meanwhile, Shibarium is the ecosystem's layer 2 network building on the Ethereum mainnet. Launched in August 2023, the chain houses Shiba Inu ecosystem-native tokens while offering added functionality and utility.Remarkably, the Zypto App announced yesterday that enthusiasts can now access ShibaSwap directly from the platform while enjoying the low transaction fees and swift execution associated with the protocol. Furthermore, the Android and Apple-compatible decentralized finance (DeFi) wallet also offers self-custody of Shibarium-supported tokens, including the leading four: SHIB, LEASH, BONE, and TREAT.Beyond self-custody, the Zypto App also debuted the Vault Key Card, providing Shibarium users with extended asset security. This secure storage leverages the NYC technology and three-factor authentication (3FA) to offer secure cold storage security standards.Zypto Debuts New InnovationRemarkably, Zypto Crypto stated that it is the first to achieve such a notable feat for the Shiba Inu ecosystem. The platform becomes the first DeFi wallet app to integrate ShibaSwap and Shibarium into a single application.Notably, the feature comes on the heels of its latest application upgrade. The self-custody wallet provider rolled out version 1.15 of its Zypto App yesterday, adding new functionalities, including support for Shibarium and ShibaSwap.Meanwhile, the incorporation has excited the Shiba Inu community, drawing comments from key players, including the official X account of the ecosystem. The handle appreciated the rollout and impressive effort of the Zypto App in simplifying access to the SHIB ecosystem.https://twitter.com/Shibtoken/status/1917311305431531593Notably, the latest development builds on previous moves from other platforms to add support for Shibarium following its launch. For instance, crypto exchange Gate.io introduced support for the layer-2 network last January. Meanwhile, MEXC followed suit a year later, specifically in February 2025.

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Shiba Inus Shibarium Sees Daily Transactions Surge To 4.68 Million, Will This Push SHIBs Price Toward $0.00008?

Author: Scott Matherson

United Kingdom

Source: NewsBTC

Nov 05, 2024 12:05

Shiba Inus Shibarium Sees Daily Transactions Surge To 4.68 Million, Will This Push SHIBs Price Toward $0.00008?

Shiba Inus ecosystem has been expanding rapidly in the past year, thanks in part to Shibarium, its layer-2 platform. Interestingly, recent data shows Shibarium has seen an impressive uptick in activity, with daily transactions reaching 4.68 million in the past 24 hours. At the time of writing, SHIB is trading at $0.00001677 and is back into the negative movement in both the seven-day and 30-day timeframes. However, the uptick in activity has given SHIB investors something to watch closely to see if this momentum could drive the tokens price closer to $0.00008. Shibarium Sees Surge In Transaction Activity According to data from Shibariumscan, 4.68 million transactions were processed on the layer-2 network in the past 24 hours, which essentially kickstarts November on a good month. Speaking of November, it’s only been three days into the month, and Shibarium has already processed more than 13.4 million transactions. Related Reading: Bitcoin Completes Retest Phase: Only One Thing Left For A $110,000 Price By December A closer look at the transaction data reveals a progressive rise in network activity each day. Particularly, data from Shibarium scan shows that 4.21 million transactions were processed on November 1, 4.53 million transactions were processed on November 2, and 4.68 transactions were processed on November 3. Interestingly, this represents an increase of about 103,800% from the 6,540 transactions registered on Sunday, October 27. With this spike in activity, the Shiba Inu community is seeing increased interest in SHIB and related tokens like BONE, which also benefits from Shibarium. The uptick in transaction activity has, in turn, increased the number of BONE tokens recouped as transaction fees, which is also positive in terms of SHIB burns. This is because the accumulated BONE fees on Shibarium are exchanged for SHIB tokens. These SHIB tokens are subsequently burned and permanently removed from circulation, leading to a reduction in the total supply of SHIB. SHIBs Price To Push Toward $0.00008? Shibarium has undoubtedly been one of the strong pillars of the Shiba Inu ecosystem since its launch. Therefore, the uptick in Shibarium activity is one of the first steps for the SHIB price to return to its all-time high levels of around $0.00008. Related Reading: Bitcoin Flashes Buy Signal After Price Closed 2nd Green Month Candle In A Row At the time of writing, SHIB is trading at $0.00001677 and has lost its footing above $0.000017 in the past 24 hours. While achieving $0.00008 would be a steep climb, sustained growth in Shibariums usage could provide a strong foundation for future price gains. Right now, the first step towards a return to $0.00008 would be SHIB bulls creating a price floor around $0.000017 or $0.0000165 that would reject any further declines. Nonetheless, November and the upcoming US elections promise to be a bullish month for SHIB and the wider crypto industry. Featured image created with Dall.E, chart from Tradingview.com

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