Monday, March 4, 2024

Shiba Inu Eyes Double-Digit Price Surge as Shibarium Hits Transaction Milestone.

Shibarium, the Layer 2 chain owned by Shiba Inu, is about to break a new record after 300 million transactions. The SHIB ecosystem’s scaling answer is shibarium, and this milestone may spur a price recovery for SHIB.

As of this writing, the price of a Shiba Inu on Binance is $0.00000941.

A major milestone is getting closer for the Shiba Inu scaling solution.
300 million transactions will have been completed on Shibarium’s chain, marking the fulfillment of a significant milestone. Since its launch, Shibarium, a scalability solution from Shiba Inu, has performed 295 million transactions.

After increasing by 5% over the previous month, the total number of accounts has risen to a peak of 62,725 overall. These figures provide credence to an optimistic theory about Shiba Inus’s popularity and significance among industry players.

In the near future, the price of the meme currency is probably going to rise.

The price of SHIB fell by 8% during the previous month. Shiba Inu is presently trading below both of its 10-day and 50-day long-term exponential moving averages, which are $0.00000953 and $0.00000966, respectively. The $0.00001056 level, which has served as resistance for SHIB since April 2023, presents resistance to the price of SHIB. If this resistance is broken, SHIB may test resistance at $0.00001119, the 23.6% Fibonacci Retracement level of the drop from April 2022 to June 2023.

A daily candlestick close below $0.00000898, the 200-day EMA, could refute the positive outlook for the price of SHIB.

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Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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