{"id":31045,"date":"2024-12-25T08:20:43","date_gmt":"2024-12-25T08:20:43","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=31045"},"modified":"2024-12-25T08:20:43","modified_gmt":"2024-12-25T08:20:43","slug":"shibarium-hits-another-milestone-is-the-shib-price-poised-for-a-new-rally","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=31045","title":{"rendered":"Shibarium Hits Another Milestone: Is the SHIB Price Poised for a New Rally?"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Shiba Inu\u2019s Shibarium hit a fresh target, signaling strong user engagement.
\nSHIB climbed by 4% to $0.00002305, with increased token burns and reduced exchange inflows signaling a further pump.<\/p>\n

<\/a><\/span><\/h2>\n

Shibarium Keeps Advancing<\/h2>\n

Shiba Inu\u2019s layer-2 blockchain solution \u2013 Shibarium \u2013 took center stage on Christmas Day, blasting through <\/span>yet<\/span> another major milestone. Data shows that the total transactions processed on the protocol <\/span>exceeded<\/span><\/a> 700 million.<\/span><\/p>\n

This<\/span> can be viewed as a serious achievement, <\/span>considering the fact that<\/span> Shibarium officially saw the light of day last summer. Since then, it has undergone <\/span>some<\/span> important<\/span> developments, such as <\/span>launching<\/span><\/a> a new user interface (UI) update that improves compatibility with popular self-custody wallets like MetaMask, Coinbase Wallet, and Trust Wallet.<\/span><\/p>\n

Shortly after, the team <\/span>introduced<\/span><\/a> an update through a hard fork to empower the community of developers and innovators and implement quicker block processing times. <\/span>It also <\/span>adopted<\/span><\/a> a burning mechanism, which is <\/span>a bit<\/span> different from the original program but has the same purpose.<\/span><\/p>\n

Shibarium\u2019s ultimate goal is to foster the development of the Shiba Inu ecosystem by reducing transaction costs, improving speed, and enhancing scalability. <\/span>As such, some market observers believe its further progress could <\/span>be a vital factor fueling<\/span> a rally for the meme coin\u2019s price.<\/span>\u00a0<\/span><\/p>\n

How\u2019s SHIB Doing?<\/span><\/h2>\n

It is worth mentioning that Shibarium\u2019s latest achievement coincides with the resurgence of SHIB\u2019s price. It currently trades at around $0.00002305, representing a 4% rise on a daily scale.
\n<\/span><\/p>\n

<\/a>SHIB Price, Source: CoinGecko<\/p>\n

Other elements suggesting that Shiba Inu has yet to experience a substantial rally are the burning program and the SHIB exchange <\/span>netflow<\/span>. <\/span><\/p>\n

The burn rate has <\/span>jumped<\/span><\/a> by 50% in the past 24 hours, <\/span>resulting in<\/span> over 7 million tokens <\/span>destroyed<\/span>.<\/span> Converted in US dollars, the stash is insignificant<\/span>, but continuous efforts in the field will reduce the circulating supply of the meme coin, making it more scarce and possibly more valuable (assuming demand doesn\u2019t head south).<\/span><\/p>\n

For its part,<\/span> the SHIB exchange netflow has been predominantly negative in the last week (according to CryptoQuant\u2019s data), with outflows surpassing<\/a> inflows during most days.<\/span> This<\/span> hints at a shift from centralized platforms toward self-custody methods and could <\/span>be considered<\/span> bullish since it diminishes the immediate selling pressure.<\/span><\/p>\n

The post Shibarium Hits Another Milestone: Is the SHIB Price Poised for a New Rally?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shiba Inu\u2019s Shibarium hit a fresh target, signaling strong user engagement. SHIB climbed by 4% to $0.00002305, with increased token burns and reduced exchange inflows signaling a further pump. Shibarium Keeps Advancing Shiba Inu\u2019s layer-2 blockchain solution \u2013 Shibarium \u2013 took center stage on Christmas Day, blasting through yet another major milestone. Data shows […]<\/p>\n","protected":false},"author":0,"featured_media":31046,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-31045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31045"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=31045"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/31045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/31046"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=31045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=31045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=31045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}