The Shiba Inu community is buzzing with questions after a recent dip in Shibarium activity. Here’s the lowdown:
Shibarium Transactions Take a Dive
Shibarium, Shiba Inu’s layer-2 network, saw a huge drop in daily transactions. On October 26th, it was booming with over 4.7 million transactions. But the next day, it plummeted to just 699,690.
Shiba Inu Burns Also Drop
This drop in transactions is directly linked to a decrease in Shiba Inu burns. Shibarium uses network fees to buy back and burn SHIB tokens, so when there are fewer transactions, there are fewer burns. In the last 24 hours, the burn rate fell by a whopping 78%, with only 9.7 million SHIB tokens burned.
Is This Just a Blip?
While the sudden drop in activity is concerning, it might just be a temporary cooldown. Shibarium saw a massive surge in transactions in just a few days, going from 20,000 to millions. This recent dip could be a natural correction before the network hits new highs.
Shiboshi NFTs Could Spark a Comeback
The Shiba Inu team is working on bringing the SHIB Shiboshi NFT collection to Shibarium. This could be a game-changer, as Shiboshi holders are eager to bridge their NFTs to the new network. This influx of activity could boost Shibarium transactions and, in turn, Shiba Inu burns.
Shiboshi NFTs Get a Makeover
These NFTs aren’t just getting a new home; they’re getting a major upgrade on Shibarium. They’ll have new features and play a bigger role in the Shiba Inu ecosystem. Shiboshi holders will also enjoy exclusive events and rewards.
Could This Spark a Shiba Inu Price Surge?
The Shiba Inu price has been struggling lately, dropping by almost 12% in the past week. But there’s hope on the horizon. If Shibarium activity picks up and Shiba Inu burns increase, the price could rebound. Experts believe that a surge in SHIB burns could push the price above the key psychological level of $0.00002.
Shiba Inu’s Future Still Looks Bright
While the recent slowdown is a bit of a setback, the Shiba Inu team is working hard to build a strong future for the project. With Shibarium and Shiboshi NFTs on the horizon, the Shiba Inu community is optimistic about the meme coin’s long-term potential.
