{"id":32981,"date":"2023-11-22T15:52:35","date_gmt":"2023-11-22T19:52:35","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32981"},"modified":"2023-11-22T15:52:35","modified_gmt":"2023-11-22T19:52:35","slug":"shibarium-transactions-spike-288-but-why-is-shiba-inu-price-down-today","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/22\/shibarium-transactions-spike-288-but-why-is-shiba-inu-price-down-today\/","title":{"rendered":"Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?"},"content":{"rendered":"

Shibarium, the Ethereum Layer network from the Shiba Inu team<\/a>, has had a rocky few months following its highly anticipated launch. After surging immediately following its launch, its figures dropped as interest waned. However, there has been a change in the performance as transaction numbers are spiking once again.<\/p>\n

Transaction Numbers Jump 288% On Shibarium<\/h2>\n

In the last few days, there has been a marked increase<\/a> in the number of transactions carried out on the Shibarium network. The Shiba Inu Layer 2 blockchain<\/a> saw a nice jump from November 19 to November 22.<\/p>\n

On November 19, the total number of transactions on the network was 8,930. But as of November 22, this figure is sitting at an impressive 34,670 transactions. This represents a 288% increase in the space of three days. As a result, the total number of transactions carried out on the network since inception has now crossed 3.578 million.<\/p>\n\n

There was also a small uptick in the number of active accounts on the network<\/a>, albeit to a smaller extent compared to the transaction count. Active accounts went from 569 on November 20 to 648 on November 22.<\/p>\n

However, amid all of these, the amount of new blocks created on the network<\/a> took a nosedive. Between November 20 and November 22, the number of new blocks created on Shibarium went from 17,214 to 13,907, a 20% decrease in two days.<\/p>\n\n

Why Is Shiba Inu Price Down?<\/h2>\n

Despite the immense growth recorded in the Shibarium over the last few days, the Shiba Inu price<\/a> has not followed this trend. Rather, the meme coin is seeing losses, especially on the 24-hour chart and this can be attributed to the general crypto market downtrend.<\/p>\n

The crypto market saw a crash after Changpeng Zhao announced he would be stepping down as the CEO of Binance and that the exchange had agreed to a $4 billion fine with the DOJ. As a result, the price of Bitcoin dropped from above $36,000 to mid-$35,000s before recovery. However, the damage was already done and it dragged the altcoin market down with it.<\/p>\n

Currently, the price of Shiba Inu<\/a> is down 3.62% to trade at $0.000008061. This decline follows the Bitcoin trend, suggesting that a recovery in the Bitcoin price would translate into a recovery in the Shiba Inu price as well.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Shibarium, the Ethereum Layer network from the Shiba Inu team<\/a>, has had a rocky few months following its highly anticipated launch. After surging immediately following its launch, its figures dropped as interest waned. However, there has been a change in the performance as transaction numbers are spiking once again.<\/p>\n

Transaction Numbers Jump 288% On Shibarium<\/h2>\n

In the last few days, there has been a marked increase<\/a> in the number of transactions carried out on the Shibarium network. The Shiba Inu Layer 2 blockchain<\/a> saw a nice jump from November 19 to November 22.<\/p>\n

On November 19, the total number of transactions on the network was 8,930. But as of November 22, this figure is sitting at an impressive 34,670 transactions. This represents a 288% increase in the space of three days. As a result, the total number of transactions carried out on the network since inception has now crossed 3.578 million.<\/p>\n

There was also a small uptick in the number of active accounts on the network<\/a>, albeit to a smaller extent compared to the transaction count. Active accounts went from 569 on November 20 to 648 on November 22.<\/p>\n

However, amid all of these, the amount of new blocks created on the network<\/a> took a nosedive. Between November 20 and November 22, the number of new blocks created on Shibarium went from 17,214 to 13,907, a 20% decrease in two days.<\/p>\n

Why Is Shiba Inu Price Down?<\/h2>\n

Despite the immense growth recorded in the Shibarium over the last few days, the Shiba Inu price<\/a> has not followed this trend. Rather, the meme coin is seeing losses, especially on the 24-hour chart and this can be attributed to the general crypto market downtrend.<\/p>\n

The crypto market saw a crash after Changpeng Zhao announced he would be stepping down as the CEO of Binance and that the exchange had agreed to a $4 billion fine with the DOJ. As a result, the price of Bitcoin dropped from above $36,000 to mid-$35,000s before recovery. However, the damage was already done and it dragged the altcoin market down with it.<\/p>\n

Currently, the price of Shiba Inu<\/a> is down 3.62% to trade at $0.000008061. This decline follows the Bitcoin trend, suggesting that a recovery in the Bitcoin price would translate into a recovery in the Shiba Inu price as well.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-32981","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=32981"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32981\/revisions"}],"predecessor-version":[{"id":32996,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32981\/revisions\/32996"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32981"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}