Shiba

Ethereum

Bitcoin

Shiba Inu

Shibarium, the <a href="https://www.newsbtc.com/news/shiba-inu-whales-bet-big-as-shibarium-grows-road-to-0-1/">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. 
<h2 class="p2" id="transaction-numbers-jump-288-on-shibarium">Transaction Numbers Jump 288% On Shibarium</h2> 
In the last few days, there has been a marked <a href="https://www.shibariumscan.io/stats" rel="nofollow">increase</a> in the number of transactions carried out on the Shibarium network. The <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-sees-a-whopping-48000-increase-in-the-shib-burn-rate-whats-next/">Shiba Inu Layer 2 blockchain</a> saw a nice jump from November 19 to November 22. 
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. 
<img loading="lazy" decoding="async" class="alignnone size-medium wp-image-561969 aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=460&amp;resize=460%2C156" alt="Shibarium Shiba Inu" width="460" height="156" srcset="https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=3445 3445w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=460&amp;resize=460%2C156 460w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=1140 1140w, https://www.newsbtc.com/wp-content/uploads/2023/11/New-transactions-Blockscout-chart.png?w=3000 3000w" sizes="(max-width: 460px) 100vw, 460px" data-recalc-dims="1"> 
There was also a small uptick in the number of active accounts on <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-shib-burn-shibarium/">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. 
However, amid all of these, the amount of new blocks created on <a href="https://www.newsbtc.com/shiba-inu/shibarium-rocket-shiba-inu/">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. 
<img loading="lazy" decoding="async" class="aligncenter size-medium" src="https://www.tradingview.com/x/zCMwWPUd/" alt="Shiba Inu price chart from Tradingview.com (Shibarium)" width="3266" height="1696"> 
<h2 class="p2" id="why-is-shiba-inu-price-down">Why Is Shiba Inu Price Down?</h2> 
Despite the immense growth recorded in the Shibarium over the last few days, the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-price-prediction-analyst-forecast-2x-by-mid-december/">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. 
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. 
Currently, the <a href="https://www.newsbtc.com/shiba-inu/shiba-inu-burn-rate-98-79/">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.

Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?

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