Shiba Inu Price Analysis: Meme Coin Can Reach the Expected Levels with This Development!

Popular meme coin Shiba Inu The coin price may increase significantly due to the impact of activities in the layer-2 network called Shibarium. Over the last seven days, SHIB has struggled to surpass the $0.00001 price mark. In this context it tested this level several times during this period.

However, if on-chain fundamentals strengthen continuously, Shiba Inu is likely to move above this price range in the coming days. There has been a marked increase in activity at the Shibarium. The number of transactions increased by nearly 200% in the last 24 hours, from one million to three million.

Notably, this figure is notable as the network reached nearly four million in value, the highest it has reached since January 8.

shiba inu price analysis

This growth is important for the Shiba Inu price as the team burns some of the underlying transaction fees on the Shibarium network. The team has burned more than 43 billion SHIBs from Shibarium-associated transactions and is considering moving the burning process to an automated model.

Shibarium TVL Reached a Settlement of Nearly 1 Million Dollars Again

ShibariumThe increase in user transactions on can be indirectly attributed to increased DeFi activity on the network. According to data from DeFilLama, the total value of assets locked in the network has now reached approximately $1 million.

The TVL metric shows that Shibarium’s valuation, which was around $765,000 since late January, has increased with the addition of approximately $250,000 in new capital. This increase indicates that investor interest is increasing and the network is attracting more users.

The Shibarium network has also benefited from recent integrations with leading followers Coingecko and CoinMarketCap. These listings open the network to millions of potential new users.

These developments could potentially contribute to Shiba Inu’s efforts to break above $0.00001. Current price is $0.000009837 cryptocurrency The unit is close to testing the critical price level once again.

You can access current market movements here.

Source : The Crypto Basic

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