Shiba Inu (SHIB) Reaches New Milestone: Details

Shibarium Surges Amidst Broader Crypto Rally

Shiba Inu's layer-2 blockchain, Shibarium, has reached a notable milestone by processing over 6 million blocks since its launch less than a year ago. The network has seen a surge in activity, with key metrics indicating positive trends.

Key Metrics for Shibarium:

• Active accounts increased from 253 on July 27 to 417 the next day.
• New daily transactions jumped by 188%, surpassing 5,300 on July 28.
• Total transactions for the year have exceeded 400 million.
• Wallet addresses are approaching the 2 million mark.

Shibarium's Impact on SHIB:

Industry experts believe that Shibarium's progress could contribute to a potential rally for SHIB. It aims to enhance the Shiba Inu ecosystem by improving scalability, reducing transaction costs, and speeding up processes.

Shiba Inu Price Predictions:

Analysts are discussing Shiba Inu's potential price movements, with diverse opinions emerging.

Bullish Outlook:

• Some analysts highlight a "macro Hidden Bullish Divergence" in SHIB's RSI, suggesting a possible rally towards $0.0000456 (164% increase).
• The Relative Strength Index (RSI) is below 70, indicating that the price is not overbought.

Bearish Concerns:

• Other analysts caution that SHIB's price could drop to $0.000015 if it fails to maintain the resistance level of $0.000017.
• The price has traded below this level for much of the past week.

Disclaimer:

This article is for informational purposes only and should not be taken as investment advice.