{"id":51977,"date":"2025-03-14T17:38:30","date_gmt":"2025-03-14T17:38:30","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=51977"},"modified":"2025-03-14T17:38:30","modified_gmt":"2025-03-14T17:38:30","slug":"key-shiba-inu-metric-skyrockets-by-2000-shib-rally-incoming","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=51977","title":{"rendered":"Key Shiba Inu Metric Skyrockets by 2,000%: SHIB Rally Incoming?"},"content":{"rendered":"

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

Daily transactions on Shibarium soared nearly 2,000%, signaling renewed interest that could drive SHIB\u2019s price up. <\/p>\n

A massive token burn and declining exchange balances might also be setting the stage for a surge.<\/p>\n

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

What May Fuel a Pump?<\/h2>\n

Shiba Inu (SHIB) hasn\u2019t been in its best shape lately, with its price dumping by over 20% in the past month. <\/span>However, some factors suggest that the asset might <\/span>once<\/span> again<\/span> press the gas pedal for a renewed bull run.
\n<\/span><\/p>\n

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

One of those is the resurgence of the layer-2 scaling solution Shibarium. Over the past month, daily transactions processed on the network dipped to very low levels. However, the<\/span> figure <\/span>exploded<\/span><\/a> to almost 1.5 million on March 13, representing a nearly 2,000% increase on a 24-hour scale.\u00a0<\/span><\/p>\n

Shibarium <\/span>is specifically designed<\/span> to foster the development of the Shiba Inu ecosystem, and according to some industry participants, its further advancement could trigger upward pressure on the price.\u00a0<\/span><\/p>\n

Last week, the popular analyst Davinci Jeremie <\/span>suggested<\/span><\/a> that SHIB could go \u201cto the moon,\u201d but this would depend on the protocol\u2019s progress.<\/span><\/p>\n

\u201cI like Shiba Inu, as you know, and\u00a0I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it\u2019s a chain that you can\u00a0<\/span>actually<\/span> run all kinds of applications.<\/span><\/p>\n

However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved, Shiba Inu will go to the moon,\u201d Davinci stated.<\/span><\/p>\n

Shiba Inu\u2019s burn rate is the next bullish element on the list. Over the last 24 hours, the team and community have <\/span>destroyed<\/span><\/a> more than<\/span> 500 million tokens, representing a 27,700% daily spike. The program\u2019s ultimate goal is to reduce the tremendous circulating supply of SHIB, possibly making it more valuable (assuming demand remains constant or rises).<\/span><\/p>\n

Shiba Inu\u2019s exchange netflow also hints at a potential price pump in the short term. <\/span>According<\/span><\/a> to CryptoQuant\u2019s data, the figure has been predominantly negative in the past week, indicating that investors might have shifted toward self-custody methods. <\/span>This<\/span>, in turn, lowers the immediate selling pressure.<\/span><\/p>\n

Underwater SHIB Holders Pile up<\/span><\/h2>\n

As mentioned above, Shiba Inu\u2019s valuation has been <\/span>on a<\/span> downtrend in the past month, <\/span>which has negatively affected<\/span> its investors.<\/span> IntoTheBlock\u2019s data <\/span>shows<\/span><\/a> that <\/span>currently,<\/span> over 62% of those <\/span>having exposure<\/span> to the meme coin are <\/span>sitting on some<\/span> paper losses.<\/span> 33% are profitable, while 5% are break-even.\u00a0<\/span><\/p>\n

It is worth noting that the share is still far from the worrying figures <\/span>observed<\/span><\/a> in September 2023. Back then, the entire meme coin sector was bleeding heavily, and almost 90% of the SHIB holders were underwater.<\/span><\/p>\n

The post Key Shiba Inu Metric Skyrockets by 2,000%: SHIB Rally Incoming?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Daily transactions on Shibarium soared nearly 2,000%, signaling renewed interest that could drive SHIB\u2019s price up. A massive token burn and declining exchange balances might also be setting the stage for a surge. What May Fuel a Pump? Shiba Inu (SHIB) hasn\u2019t been in its best shape lately, with its price dumping by over […]<\/p>\n","protected":false},"author":0,"featured_media":51978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51977","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\/51977"}],"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=51977"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/51977\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/51978"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=51977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=51977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=51977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}