{"id":36192,"date":"2025-01-15T21:28:12","date_gmt":"2025-01-15T21:28:12","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36192"},"modified":"2025-01-15T21:28:12","modified_gmt":"2025-01-15T21:28:12","slug":"shiba-inus-shibarium-blasts-through-another-huge-milestone","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36192","title":{"rendered":"Shiba Inu\u2019s Shibarium Blasts Through Another Huge Milestone"},"content":{"rendered":"

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

Shibarium has processed over 800M transactions, while the network wallets are beyond two million. Previously, it launched updates for faster blocks and token burning.
\nSHIB\u2019s oversold levels and reduced selling pressure hint at potential recovery despite recent underperformance.<\/p>\n

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

Shibarium Keeps Advancing<\/h2>\n

Shiba Inu\u2019s ecosystem expanded substantially in August 2023 when the layer-2 scaling solution<\/span> \u2013 <\/span>Shibarium<\/span> \u2013 <\/span>officially <\/span>saw the light of day<\/span><\/a>.<\/span> The protocol\u2019s primary goals are to reduce transaction costs, enhance scalability, and improve speed.\u00a0<\/span><\/p>\n

During its relatively short existence, Shibarium hit numerous milestones, showcasing its rapid progress. Most recently, the <\/span>number of<\/span> total transactions <\/span>processed<\/span><\/a> on the network surpassed 800 million.\u00a0<\/span><\/p>\n

Other Shibarium-related metrics have also surged lately. The total number of wallet addresses crossed two million, whereas total blocks are inching <\/span>away<\/span> from the nine million mark.\u00a0<\/span><\/p>\n

Over the past several months, Shibarium <\/span>underwent<\/span>\u00a0important developments, such as\u00a0<\/span>launching<\/span><\/a> a new user interface (UI) update that improves compatibility with popular self-custody wallets.<\/span>\u00a0<\/span><\/p>\n

It also <\/span>introduced<\/span><\/a> an update through a hard fork to implement quicker block processing times and <\/span>adopted<\/span><\/a> a burning mechanism. <\/span>The latter differs from the original program but has the same goal<\/span>: to reduce<\/span> the tremendous supply of Shiba Inu tokens, thus potentially making them <\/span>more valuable (assuming demand doesn\u2019t head south).<\/span>\u00a0<\/span><\/p>\n

SHIB Price Outlook<\/span><\/h2>\n

Shibarium\u2019s progress <\/span>is often touted<\/span> as one of the elements that could contribute to a SHIB rally. However, the price of the meme coin has underperformed, dropping by 1.5% on a 24-hour scale.<\/span><\/p>\n

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

This<\/span> contrasts the overall resurgence of the cryptocurrency market, where Bitcoin (BTC) briefly exceeded $97,000, while <\/span>Ripple (XRP)<\/span><\/a> reached a seven-year high of almost $2.90.<\/span><\/p>\n

On the other hand, some factors suggest that SHIB could soon catch up with the rest of the sector. For instance, the Relative Strength Index (RSI) recently <\/span>plunged<\/span><\/a> below the bullish zone <\/span>of<\/span> 30. <\/span>This<\/span> indicates that the asset is oversold and undervalued and could present a buying opportunity.\u00a0<\/span><\/p>\n

SHIB\u2019s exchange netflow is also worth mentioning. Over the last seven days, outflows have significantly <\/span>surpassed<\/span><\/a> inflows (according to CryptoQuant\u2019s data), signaling a shift from centralized platforms toward private wallets. <\/span>This<\/span> could be <\/span>considered<\/span> bullish since it reduces the immediate selling pressure.<\/span>\u00a0<\/span><\/p>\n

The post Shiba Inu\u2019s Shibarium Blasts Through Another Huge Milestone<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Shibarium has processed over 800M transactions, while the network wallets are beyond two million. Previously, it launched updates for faster blocks and token burning. SHIB\u2019s oversold levels and reduced selling pressure hint at potential recovery despite recent underperformance. Shibarium Keeps Advancing Shiba Inu\u2019s ecosystem expanded substantially in August 2023 when the layer-2 scaling solution […]<\/p>\n","protected":false},"author":0,"featured_media":36193,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36192","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\/36192"}],"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=36192"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36192\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/36193"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}