Unexpectedly, during the past 24 hours, Shibarium, Shiba Inu’s Layer-2 blockchain technology, has seen an incredible spike in transaction activity.
The amount of completed transactions surged from 4.37 million to an astounding 6.19 million in only one day, according to Shibariumscan statistics, an astounding rise of more than 141%.
Shiba Inu’s unanticipated rise coincides with a pivotal moment, as the cryptocurrency has seen a downturn in activity in the last few weeks, with daily transactions falling from 7.52 million to fewer than 4.5 million since the end of 2023—a low point that lasted more than a month.
Nonetheless, the abrupt upsurge in Shibarium’s transaction activity has revitalised the Shiba Inu ecosystem, prompting industry watchers to speculate about its future course.
Is SHIB ready?
At the same time, there were significant fluctuations in the value of Shiba Inu’s native token, SHIB. After a recent significant decline, SHIB recovered remarkably, rising more than 19% to $0.00000984. This recovery begs the issue of whether SHIB can remove one of the four zeros after the decimal point, even if it’s still not quite pretty.
The main focus of interest right now is on whether or whether this spike in Shibarium’s transaction activity is a sign of a long-term recovery for Shiba Inu.
The question, “Is the SHIB price ready to erase a zero?” arises as the community excitedly watches to see if the Shiba Inu token can regain its momentum amid fresh activity in Shibarium.
