Is Shibarium’s latest update good news for Shiba Inu?

June 12, 2023

By Dipayan Mitra

Read Shiba Inu’s [SHIB] Price Prediction 2023-24

SHIB’s price declined by more than 24% in the last seven days

Weighted sentiment was negative, but several metrics looked positive for SHIB

Most altcoins have seen a major price correction of late, because of which they registered double digit declines. Shiba Inu [SHIB] was one of the affected coins, as its price went down by more than 24% in the last seven days. Nonetheless, SHIB’s Shibarium continued to perform well and also hit a new milestone.

Shibarium stats are on FIRE

Shibarium registered a major update recently after a tweet revealed that the total number of transactions on Shibarium crossed the 20 million-mark.

Puppyscan’s data revealed that daily transactions have gained upward momentum since May 2023. At press time, the number of daily transactions was 491,994. The number of wallet addresses stood at 16,723,362. Additionally, there have been 1,236,598 blocks created, with an average block time of 5 seconds.

Will this stir positive sentiment around Shiba Inu?

SHIB continued to face heat as its price chart remained red. According to CoinMarketCap, SHIB’s price was down by more than 4% in the last 24 hours. At press time, SHIB was trading at $0.000006559 with a market capitalization of over $3.8 billion. However, Shibarium’s achievement was not enough to change market sentiment around SHIB.