Activity on the Shibarium network has increased by 50%: how will this affect the price of Shiba Inu. Shibarium is showing significant growth in on-chain activity. Moreover, the number of new transactions on the Shibarium second-layer network, a key element of the Shiba Inu (SHIB) ecosystem , increased by almost 50% from Friday to Sunday, from 5,150 to 7,691, according to Shibariumscan.
Shibarium attracts more users
The total number of accounts on the Shibarium network also increased significantly : from 105,367 as of May 1 to 113,732 by May 27. However, this dynamic indicates sustainable development and growing trust in the platform.
Shibarium functions as a layer 2 solution, increasing the scalability and efficiency of transactions on the Ethereum blockchain. The development of the network reflects Shiba Inu’s goal to move beyond its ” meme ” origins and become a widely used cryptocurrency.
On May 2, an important hard fork was successfully completed in Shibarium. In addition, the network upgrade promises to deliver lightning-fast transaction speeds and more predictable gas fees. All this should improve the customer’s user experience. Meanwhile, on May 16, the ecosystem officially launched ShibaSwap, its own decentralized exchange (DEX), at Shibarium. Moreover, this strategic move is part of further efforts to increase the value and attractiveness of Shibarium.
Kaal Dhairya, developer of Shiba Inu, emphasized the team’s commitment to continuous development: “We will continue to release updates and improvements on a regular basis to ensure everyone remembers that this is not a sprint, but a marathon.”
Shiba Inu on the edge of potential 32% growth
Additionally, Shiba Inu is exhibiting a Volatility Compression Pattern (VCP). This technical pattern is characterized by gradually narrowing price swings. Meanwhile, It is often seen by traders as an indicator of a potential breakout.
If SHIB successfully breaks the $0.00002631 neckline, it could strengthen by about 32% of its current market price towards the $0.00003282 resistance level.
However, if the bullish breakout fails, the price could return to the support at $0.00002345. Its breakdown could push the coin to the next significant support level $0.00002052.
