shib

Shiba Inu ($SHIB ) on-chain activity has shot up, and the numbers are too big to ignore, as represented by #IntoTheBlock . In just one day, the total transaction volume for #SHIB jumped from 1.8 trillion tokens, equal to $22.84 million, to a whopping 7.37 trillion SHIB, which was worth around $93.56 million.
While the price of SHIB did not change much during that same time - it was mostly around $0.000013 - the increase in volume was what got real attention. You Migh
If you look at the big picture, this move really stands out compared to the previous week, when the average daily volume was about 2.78 trillion SHIB, which is just over $36 million.
That makes this recent activity more than double the weekly average, and well above the seven-day low recorded on May 1, when volume dipped to 1.09 trillion SHIB, worth just $14.69 million.
Even though the number of transactions went up a great deal, the number of transactions per user did not increase as much. On May 5, the on-chain count hit 3,940 transactions. Thus, it looks like the surge was not driven by retail traders making lots of small moves. It is more likely that there were fewer but much larger transactions. These were probably tied to whales, internal transfers or pre-structured capital shifts.
It is unclear if this spike is a sign of bigger price movements or just large holders shifting their funds around. Either way, the sudden jump in volume has put Shiba Inu back on the map for those keeping an eye on the early signs in the altcoin market.
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One popular X user believes that $SHIB and #ADA are among the most promising cryptocurrencies.
TL;DR
Shiba Inu (#SHIB ) is gaining momentum, with analysts pointing to certain catalysts for a potential triple-digit price surge in the current cycle.
#Cardano (ADA) is described as “built to last,” with some predicting a breakout to $1.60 in the short term and possibly $3 by year-end.
SHIB Bull Run on the Way?
The popular X user Henry recently claimed to have explored more than 500 cryptocurrencies to determine which ones are the “gems with 100x potential,” and Shiba Inu (SHIB) found a spot in the prestigious club.
The analyst suggested that the “SHIB movement [has] just started,” adding that the meme coin has much more room for growth due to the increased #Shibarium adoption and the aggressive token burns. Henry is not the first to predict that further advancements in the layer-2 blockchain solution could positively impact Shiba Inu’s price. Not long ago, the Bitcoin advocate Jeremie Davinci said:
“I like Shiba Inu, as you know, and I think it will do relatively well in this cycle, but it may not go as high as you expect. I think Shiba Inu has a lot of utility now that they have Shibarium, and basically, it’s a chain that you can actually run all kinds of applications.
However, nobody is using it, and there are no applications for using your tokens on Shibarium yet. If they get that solved, Shiba Inu will go to the moon.”
Shibarium officially went live in the summer of 2023 and is specifically designed to foster the development of the meme coin’s ecosystem. Earlier this year, the total number of transactions processed on the protocol surpassed the milestone of one billion.
Henry also reminded that analysts predict a solid surge for Shiba Inu this year. The market observer shared their optimism, envisioning a “huge pump which is going to break all the past levels ATH and will be at least 790%.”
How About ADA?
Cardano’s native token was also on the list. Henry described it as the ocean: “calm, deep, and misunderstood.” However, the analyst argued that when ADA moves, it makes waves across the entire market. 
They further suggested that the asset was “built to last” and that Cardano “is shaping infrastructure.” In their view, ADA’s price is set to reach $3 later this year.
Other industry participants who recently touched upon the token’s performance and made optimistic predictions include Captain Faibik and STEPH IS CRYPTO. The former forecasted a “massive bullish rally” above $1.60 in the short term. 
The latter did not provide exact numbers, simply envisioning that ADA is about “to go parabolic.”
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