#BONE##SHIB##SHIBL2#
News Shibarium Daily Transaction Volume Surges to 4.68 Million, What Happened?
The Shiba Inu ecosystem has been expanding rapidly over the past year, thanks in part to its second-layer platform Shibarium. Interestingly, recent data shows that Shibarium's activity has seen: impressive growth, with daily transaction volume reaching 4.68 million in the past 24 hours, of which 4.67 million transactions were generated daily through $WOW output? Still increasing, why are people minting $WOW at a high price? This is a question?
It's only been 18 days since the beginning of this month, and Shibarium has already processed more than 84.24 million transactions, with $WOW accounting for 99.27% of the project, which is incredible!
In particular, data from Shibarium scan shows that 4.21 million transactions were processed on October 29, 4.53 million transactions on November 2, and 4.68 million transactions on November 3. Interestingly, this is an increase of approximately 103,800% from the 6,540 transactions registered on Sunday, October 27.
With the surge in trading activity, the Shiba community has seen a growing interest in SHIB and related tokens such as BONE, which has also benefited Shibarium. The increase in trading activity has in turn increased the number of BONE tokens recovered as transaction fees, which also has a positive effect on SHIB destruction. This is because the BONE fees accumulated on Shibarium can be redeemed for SHIB tokens. These SHIB tokens are then destroyed and permanently removed from circulation, resulting in a decrease in the total supply of SHIB.
Shibarium has undoubtedly been one of the strong pillars of the Shiba ecosystem since its launch. Therefore, the rise in Shibarium activity is the first step towards the SHIB price returning to its all-time high of approximately $0.00008.
SHIB is trading at $0.00001677 and has fallen below $0.000017 in the past 24 hours. While reaching $0.00008 will be a steep climb, continued growth in Shibarium usage could lay a solid foundation for future price increases.
Currently, the first step for SHIB price to return to $0.00008 is for SHIB bulls to create a price floor around $0.000017 or $0.0000165, thereby preventing further declines
