SHIB Records New Milestone, As Transaction Volume Increase By 299%

SHIB Records New Milestone, As Transaction Volume Increase By 299%

Shiba Inu has accomplished a key milestone as its transaction volume soars by an impressive 299%. This increase in transaction volume is only one of numerous impressive statistics demonstrating the Shiba Inu ecosystem’s ongoing development.

Shiba Inu’s total addresses have increased to a new all-time high of 3.58 million; development analysts explain that the increase in addresses demonstrates the expanding involvement of investors and the Shiba Inu community, indicating the token’s rising popularity.

It was also gathered that $36.26 million worth of SHIB tokens have been traded in significant transactions over the past 24 hours. SHIB has had a significant burn in the last 24 hours, with a recorded 69,586,434 units of SHIB tokens burned in 19 different transactions. Transaction data by SHIB whales extracted from the IntoTheBlock platform shows that there has been a large number of whale activities recently.

Shibarium Records 2,113,660 Transactions, As SHIB Continues Upward Movement

Records published on the U.Today platform have shown that Shibarium has now logged 2,113,660 transactions, proving it’s widely talked-about acceptance. As of September 11, the Shibarium wallet addresses have reached 1,125,979, highlighting the growing user base.

Shibarium has also processed 589,704 blocks, demonstrating its importance to the Shiba Inu sector. Analysis on U.Today says that the data shows that the increase in Shiba Inu’s transaction volume has been rising over time and is not a one-day phenomenon.

News also states that on September 11, 2023 alone, 1,120 new addresses were added to the Shiba Inu ecosystem. The market capitalization of the meme token has increased over time, hitting $4.25 billion (according to Block Work) at press time, securing its place among the leading cryptocurrencies.

It was also traded at $100,772,352 in the last 24 hours, but closed at 15.85% loss. A cryptocurrency journalist, Tomiwabold Olajide, from the U.Today platform, had said that Shibarium and other components are a part of its distinctive and cutting-edge ecology, which has led to its rising adoption and acceptance.

SHIB Witness Another 2.16% Surge In 24 Hours, As BONE Recoup Losses

As of press time, Shiba Inu slightly jumped at 2.16% in 24 hours to sell at $0.0000727. BONE, which is Shibarium’s main token, has experienced a 3.06% increase in its price in the last 24 hours to trade at $0.848. Further study shows that BONE has regained the losses it made the last time.

The least SHIB whale activities were recorded at $100,000 (and above). SHIB team member Lucia, on her X account, said that the company is coming up with new developments, including features like ShibaSwap 2.0, Metaverse, Shiba Hub, and TREAT reward token.

Data from IntoTheBlock also showed that there had been a large transaction volume in the last seven days, with a total of 5.15 trillion SHIB transacted. However, the United States is set to release the Consumer Price Index (CPI) and Producer Price Index (PPI) for August after the European Central Bank publication of its new interest rate.

This development is believed to affect the SHIB whale activities over the next month drastically. Meanwhile, expert predictions by IntoTheBlock say that SHIB will have a good time as the price approaches an oversold mark, with a Relative Strength Index (RSI) approaching 30, and a rebound expected to happen in a short while, giving cryptocurrency traders some moment of relief.

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Chad Butler
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Chad Butler

Chad Butler, a renowned name in crypto journalism, excels in translating complex blockchain topics into lucid prose. His astute analyses and timely updates make him a trusted voice in the cryptocurrency landscape. Through his articles, Chad consistently offers readers an informed and insightful perspective on the evolving digital market

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