{"id":34168,"date":"2023-12-14T17:53:14","date_gmt":"2023-12-14T21:53:14","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=34168"},"modified":"2023-12-14T17:53:14","modified_gmt":"2023-12-14T21:53:14","slug":"shib-roars-as-shibarium-hits-100-million-transactions-big-things-unfolding","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/12\/14\/shib-roars-as-shibarium-hits-100-million-transactions-big-things-unfolding\/","title":{"rendered":"SHIB Roars As Shibarium Hits 100 Million Transactions \u2013 Big Things Unfolding"},"content":{"rendered":"

Shiba Inu\u2019s layer-2 blockchain Shibarium has breached the 100 million transaction milestone. This brought more exposure to SHIB which has led to a big jump in price. According to Coingecko<\/a>, the token is up nearly 8% in the weekly, with the biggest bump happening in the bi-weekly timeframe at 23%.\u00a0<\/p>\n

Shibarium\u2019s recent achievement isn\u2019t the only thing positive on SHIB this week. With the broader market seemingly ending the year on the green, Shiba Inu aims to follow suit.\u00a0<\/p>\n

Shibarium In The New Age<\/h2>\n

According to Shibariumscan<\/a>, the L2 chain has been experiencing an exponential jump since its official launch back in August this year.\u00a0<\/p>\n

Today, December 14, daily transactions reached 7.36 million with the total transactions processed reaching 105.2 million. This growth can be attributed to the dev team\u2019s recent activities behind the scenes.\u00a0<\/p>\n

This year, Shibarium is set to transition from the Goerli Network to the Sepolia Network as its layer 1 chain.\u00a0<\/p>\n

\u201cThis strategic shift is instrumental in ensuring that developers have access to a reliable and consistent platform for testing their dApps and smart contracts. This is planned to go live [on] December 15th, 2023 by which the current Puppynet will stop working,\u201d the dev team announced<\/a> earlier this month.<\/p>\n

According to the blog post, SHIB burns come in two phases: manual and automatic. As of writing, Shibarium is in the manual phase with an estimated<\/a> 3 massive manual burns coming this month. This would further decrease the supply available on the market, placing upward pressure on SHIB\u2019s price.<\/p>\n

Another influence on SHIB\u2019s price is the broader market rally observed in the past few days. Coingecko<\/a> data shows that the market is up nearly 6% in the daily timeframe. If this trend continues, SHIB will continue to give gains to the bulls.\u00a0<\/p>\n

Bulls Aim To Knock Another Zero Off<\/h2>\n

SHIB is currently on its way to knock another zero off of its price as the bulls break through the $0.00000997 price level. If the bulls can stabilize the token at this price point, further gains can be speculated shortly.\u00a0<\/p>\n

However, the over-reliance of SHIB\u2019s price action on major coins like ETH and BTC might be a problem in the long term. As of writing, the market\u2019s current trajectory is held only Bitcoin\u2019s very bullish past few days. If this streak ends, SHIB will face a very bloody week.\u00a0<\/p>\n

Featured image from Shutterstock<\/em><\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Shiba Inu\u2019s layer-2 blockchain Shibarium has breached the 100 million transaction milestone. This brought more exposure to SHIB which has led to a big jump in price. According to Coingecko<\/a>, the token is up nearly 8% in the weekly, with the biggest bump happening in the bi-weekly timeframe at 23%.\u00a0<\/p>\n

Shibarium\u2019s recent achievement isn\u2019t the only thing positive on SHIB this week. With the broader market seemingly ending the year on the green, Shiba Inu aims to follow suit.\u00a0<\/p>\n

Shibarium In The New Age<\/h2>\n

According to Shibariumscan<\/a>, the L2 chain has been experiencing an exponential jump since its official launch back in August this year.\u00a0<\/p>\n

Today, December 14, daily transactions reached 7.36 million with the total transactions processed reaching 105.2 million. This growth can be attributed to the dev team\u2019s recent activities behind the scenes.\u00a0<\/p>\n

This year, Shibarium is set to transition from the Goerli Network to the Sepolia Network as its layer 1 chain.\u00a0<\/p>\n

\u201cThis strategic shift is instrumental in ensuring that developers have access to a reliable and consistent platform for testing their dApps and smart contracts. This is planned to go live [on] December 15th, 2023 by which the current Puppynet will stop working,\u201d the dev team announced<\/a> earlier this month.<\/p>\n

According to the blog post, SHIB burns come in two phases: manual and automatic. As of writing, Shibarium is in the manual phase with an estimated<\/a> 3 massive manual burns coming this month. This would further decrease the supply available on the market, placing upward pressure on SHIB\u2019s price.<\/p>\n

Another influence on SHIB\u2019s price is the broader market rally observed in the past few days. Coingecko<\/a> data shows that the market is up nearly 6% in the daily timeframe. If this trend continues, SHIB will continue to give gains to the bulls.\u00a0<\/p>\n

Bulls Aim To Knock Another Zero Off<\/h2>\n

SHIB is currently on its way to knock another zero off of its price as the bulls break through the $0.00000997 price level. If the bulls can stabilize the token at this price point, further gains can be speculated shortly.\u00a0<\/p>\n

However, the over-reliance of SHIB\u2019s price action on major coins like ETH and BTC might be a problem in the long term. As of writing, the market\u2019s current trajectory is held only Bitcoin\u2019s very bullish past few days. If this streak ends, SHIB will face a very bloody week.\u00a0<\/p>\n

Featured image from Shutterstock<\/em><\/p>\n

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