Million

Simply

Notable

Shiba Inu

Cosmos

<p>Since its public relaunch on August 16, Shibarium, the Layer-2 blockchain for Shiba Inu, has become popular in the cryptocurrency space. According to statistics from <a href="https://www.shibariumscan.io/stats" target="_blank" rel="noopener noreferrer nofollow">ShibariumScan</a>, it has experienced a meteoric rise in user activity, surpassing 1.5 million transactions. This figure is more than just a number; it serves as a testament to the growing adoption and utility of the Shiba Inu ecosystem.</p> 
<h2 class="wp-block-heading" id="potential-catalyst-for-a-shib-price-rally">Potential Catalyst for a SHIB Price Rally</h2> 
<p>The reintroduction of Shibarium was highly anticipated to serve as a catalyst for a $SHIB price rally. Although making price predictions in the cryptocurrency world is challenging, the enhanced utility that Shibarium brings offers compelling reasons for a bullish outlook on $SHIB.</p> 
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:"> 
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0"> <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i> 
  <div class="rh-colortitle-inbox-label">
    Trade on US-Banned Exchanges With No KYC 
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
  </div> 
 </div> 
 <div class="rh-colortitlebox-text"> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px"> 
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Tired of missing hot new listings because your favorite exchange is banned in the US? <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>With <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a> you can finally trade on Kucoin, ByBit and more without registration or KYC! <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f64c.png" alt="🙌" class="wp-smiley" style="height: 1em; max-height: 1em;"></p> 
    <p>Simply connect your wallet to access every coin. No VPN needed.</p> 
    <p>Seamlessly bridge between EVM, Solana, Cosmos and 100+ chains. Discover the next crypto gem with low fees.</p> 
    <p>Take your trading to the next level with:</p> 
    <ul> 
     <li>Instant access to banned CEXs <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6ab.png" alt="🚫" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>No KYC required <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f645-200d-2642-fe0f.png" alt="🙅‍♂️" class="wp-smiley" style="height: 1em; max-height: 1em;"></li> 
     <li>Trade on your terms – no registration required</li> 
     <li>Maintain full custody – tokens stay in your wallet</li> 
     <li>Access liquidity across leading DEXs and CEXs</li> 
     <li>Bridge assets quickly between any blockchain</li> 
    </ul> 
    <p>Escape CEX limits today with <a class="thirstylink" rel="noopener noreferrer nofollow" target="_blank" title="Rocketxchange" href="https://captainaltcoin.com/go/rocketxchange/" data-shortcode="true">RocketXchange</a>!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span> 
   </div> 
  </div> 
 </div> 
</div> 
<p>One of the key factors fueling this optimism is the significantly improved utility that Shibarium adds to the <a class="wpil_keyword_link" href="https://captainaltcoin.com/shiba-inu-price-prediction/" title="Shiba Inu" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu</a> token. By utilizing Layer-2 technology, Shibarium has been able to dramatically accelerate transaction speeds while substantially reducing network fees.</p> 
<p>It’s worth mentioning that the launch of Shibarium has also amplified interest and excitement surrounding the Shiba Inu ecosystem. In the crypto world, momentum often plays a crucial role in price movements. This is particularly true for <a class="wpil_keyword_link" href="https://captainaltcoin.com/meme-coins/" title="meme" data-wpil-keyword-link="linked" target="_blank" rel="noopener noreferrer nofollow">meme</a> coins like $SHIB, which thrive on social media engagement and investor sentiment.</p> 
<h2 class="wp-block-heading" id="shiba-inu-experiences-a-notable-downturn">Shiba Inu Experiences a Notable Downturn</h2> 
<p>Contrary to expectations, Shiba Inu has undergone a noticeable downtrend, falling below its critical support level of $0.0000088. Market bears have successfully pushed the token’s price even further, breaking another key support level at $0.0000080.</p> 
<figure class="wp-block-image size-large"> 
 <img decoding="async" src="https://s3.tradingview.com/news/image/newsbtc:63ef1b283094b-900431197aee689389e2d1995a2ec56b-resized.jpeg" alt=""> 
</figure> 
<p>However, the token has found a support zone around $0.0000074 and is currently attempting a recovery. It is consolidating near the 23.6% Fibonacci retracement level from its recent lows. Despite this, it remains below the 100 simple moving average on a 4-hour chart, indicating a bearish trend. Investors should keep an eye on key resistance levels at $0.0000077 and $0.0000080; a close above the latter could pave the way for a rally. As always, investors are advised to exercise caution and conduct their own research.</p> 
<p>After its recent decline, Shiba Inu has managed to find some semblance of stability, establishing a support zone near $0.0000074. A definitive low point was reached at approximately $0.00000739, signaling a potential turning point for the struggling token.</p> 
<h2 class="wp-block-heading" id="what-s-next-for-shiba-inu">What’s Next for Shiba Inu?</h2> 
<p>The token’s current consolidation near this Fibonacci level may suggest an upcoming reversal or, at the very least, short-term stabilization. Traders and investors should closely monitor these technical indicators, as they could provide valuable insights into the token’s future price trajectory.</p> 
<p><em>Join us on <strong><a href="https://twitter.com/intent/follow?screen_name=captainaltcoin" data-type="link" data-id="https://twitter.com/intent/follow?screen_name=captainaltcoin" target="_blank" rel="noopener noreferrer nofollow">Twitter</a></strong> and <strong><a rel="noopener noreferrer nofollow" href="https://www.facebook.com/captainaltcoin" target="_blank">Facebook</a> </strong>for the latest insights and discussions in the world of crypto.</em></p> 
<p><em>Explore our <strong><a href="https://captainaltcoin.com/tag/news/" target="_blank" rel="noopener noreferrer nofollow">news section</a></strong> and stay ahead of the curve with our expert <strong><a href="https://captainaltcoin.com/predictions/" data-type="link" data-id="https://captainaltcoin.com/predictions/" target="_blank" rel="noopener noreferrer nofollow">price predictions</a>.</strong></em></p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/shibarium-exceeds-1-5-million-transactions-is-this-the-spark-for-a-shib-price-rally/">Shibarium Exceeds 1.5 Million Transactions: Is This the Spark for a SHIB Price Rally?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Shibarium Exceeds 1.5 Million Transactions: Is This the Spark for a SHIB Price Rally?

Table of Contents

CaptainAltcoin

Other articles published on Sep 10, 2023

Infura to Launch Decentralized Version of its Services by Year End

Decentralized Digital Identity: Standards, Protocols, & Use Cases

BRICS: Asian Currency Officials Look To Halt the Rising US Dollar

Shiba Inu (SHIB) Growth Might Accelerate After This 5.5 Trillion Resistance Is Broken

THE ROLE OF STAKING IN THE ROLAZ ECOSYSTEM:

Escrow services and Decentralized Arbitration Explained

Join our free newsletter for daily crypto updates!