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Заголовок Key Shibarium Indicator Soars by 70% as the Shiba Inu (SHIB) Price Flashes Green: Details
Дата 20240919

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Key Shibarium Indicator Soars by 70% as the Shiba Inu (SHIB) Price Flashes Green:
Details

Key Shibarium Indicator Soars by 70% as the Shiba Inu (SHIB) Price Flashes
Green: Details

Author: Dimitar Dzhondzhorov

Last Updated Sep 19, 2024 @ 13:54

SHIB s value hit a 3-week high of $0.00001431.

TL;DR

Shibarium saw a 70% spike in daily transactions, signaling renewed activity.

SHIB’s price surged nearly 10%, but caution is advised due to possible
overbought conditions.

Finally a Resurgence

Shiba Inu s layer-2 scaling solution has seen low activity in the past
several weeks, stalling its progress observed at the start of the year.
However, some metrics have taken off in the last 24 hours.

Data shows that the network processed 7,715 new transactions on September 18,
a 70% increase compared to the 4,537 on September 17.

Other Shibarium indicators that have headed north on a daily scale include the
number of new verified contracts and active accounts.

The L2 blockchain solution officially went live last August. It is
specifically designed to foster the development of the Shiba Inu ecosystem by
lowering transaction fees, increasing speed, and enhancing scalability.

Not long ago, the team adopted a burning mechanism called Burn
Portal. Its ultimate goal is to reduce the circulating supply of SHIB
tokens, thus making them scarcer and potentially more valuable in time.

The program is directly tied to Shibarium s blockchain operations. Each
time a transaction occurs on the network, a fraction of the costs paid in Bone
ShibaSwap (BONE) is used to purchase SHIB tokens from the open market. That
amount is then transferred to a null address.

In contrast, the original mechanism employed by Shiba Inu depends largely on
community-driven initiatives and voluntary token burns by holders instead of
an automated or protocol-driven process.

For more updates on the ecosystem, make sure to check out our Shibarium news .

SHIB Price Outlook

Some industry participants believe the further advancement of Shibarium could
be among the factors triggering a bull run for Shiba Inu. The price of the
meme coin has soared by almost 10% in the past 24 hours, currently trading at
around $0.00001427 (per CoinGecko s data).

SHIB Price, Source: CoinGecko

The uptick coincides with an overall resurgence of the cryptocurrency• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта market
where Bitcoin (BTC• Экономика » Финансы » Платежные средства » Платежные системы интернета » Криптовалюта » Bitcoin) exceeded $63,000 for the first time since late-August .
The bullish environment was likely fueled by the US Federal Reserve which cut
the interest rates by 0.5%.

Despite SHIB s impressive comeback, traders should enter the ecosystem
cautiously due to the volatile nature of the asset and its rising Relative
Strength Index (RSI• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ » Индекс относительной силы RSI

• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Линии Боллинджера » Индекс относительной силы RSI
). The technical analysis• Экономика » Финансы » Финансовый рынок » Рынок ценных бумаг » Фондовый рынок » Технический анализ tool measures the change and
speed of price movements and helps traders assess overbought or oversold
conditions.

It varies from 0 to 100, with readings above 70 signaling overbought territory
and the potential for a price pullback. The ratio reached that mark earlier
today (September 19).

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Tags: Shiba Inu (SHIB)

============= Итог: 2,0486 ; Экономика#Финансы#Финансовый рынок#Рынок ценных бумаг#Фондовый рынок #Технический анализ#Индекс относительной силы RSI 2,0112 ; Экономика#Финансы#Платежные средства#Платежные системы интернета #Криптовалюта#Bitcoin


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