Shiba Inu’s Shibarium Sees Triple-Digit Surge in All Major Metrics, What Happened?

Shibarium’s key metrics suggest that the Shiba Inu ecosystem may be ready to push to the top. Notably, Shibarium’s transaction data saw a triple-digit percentage jump in transactions and fees paid with BONE over the past week. This suggests that the Shiba Inu may receive more attention from traders, a situation that may cause SHIB repeating at a key support level during the week.

Shibarium Sees Big Increase in Activity Over Weekend

According to the latest data, transactions on the Shibarium network exploded over the weekend, increasing by 441% on Saturday. More than 13,190 transactions were recorded at the Shibarium on Saturday, up from just under 3,500 earlier in the week. The massive increase in activity has led to higher costs for the network as it struggles under the added load.

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Therefore, the average fees paid to BONE in Shibarium transactions have increased by 176%. In addition, data from Shibariumscan shows that 154 new accounts were created on Sunday, which is a 1,600% increase from the 9 new accounts created on Monday, June 10.

Interestingly, these numbers are small compared to the metrics recorded in Shibarium at the beginning of the year. However, their rise came at a critical time in the Shiba Inu community. This is a good sign for the price of SHIB, as increased sales increase the amount of gas costs, which in turn increases the number of SHIB tokens to be burned.

The current state of the Shiba Inu

At the time of writing, SHIB is trading at $0.00002013 and is currently down 2.21% in the last 24 hours. Notably, SHIB has he refused seven days ago amid a broader market decline led by Bitcoin. As a result, SHIB has lost 13.11% of its market average over the past seven days as traders continue to exit their long positions.

SHIB now finds itself trading in the $0.000020 price zone and may drop further despite the increase in Shibarium trading over the weekend. In accordance with data from IntoTheBlock, approximately 3.97 trillion SHIB tokens purchased by 5,270 addresses act as resistance at this price level. If SHIB fails to defend this support and breaks below, the next key level is at $0.000190, where 4,310 addresses currently hold 6.21 trillion SHIB tokens.

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Lucie, Shiba Inu’s marketing lead, has recently been shown the air space of everyone who is a bridge in the Shibarium in the first year, which arouses the interest of Shib lovers. However, Lucie provided an explanation and noted that this is a hypothetical situation and does not guarantee anything.

“THIS IS A CAREFUL QUESTION THAT DOESN’T PROMISE ANYTHING. I JUST THOUGHT,” said Lucie social media X.