Shiba Inu Surges As Shibarium Daily Transactions Hit Record High Levels Of 7.84M
Portfolio Pulse from Khyathi Dalal
Shiba Inu (CRYPTO: SHIB) has experienced a 4% price increase in the past 24 hours, coinciding with a record high daily transaction volume of 7.84 million on Shibarium. The total transaction count has reached 31.05 million. BONE ShibaSwap (CRYPTO: BONE) also saw a 6% price increase. A whale wallet's significant withdrawal of SHIB from Binance suggests increased investor activity. Despite the crypto winter, Shiba Inu has maintained its trajectory, with the project lead developer expressing optimism about the future.
December 04, 2023 | 9:05 pm
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POSITIVE IMPACT
BONE ShibaSwap's price increased by 6% following a rise in transaction volume, suggesting a positive market response to the Shibarium ecosystem's growth.
The increase in BONE's price is likely a direct result of the increased transaction volume on Shibarium, as BONE is used for gas fees on the platform, indicating a higher demand for the token.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
POSITIVE IMPACT
Shiba Inu's price surged by 4% with a record high daily transaction volume on Shibarium, indicating strong investor interest and potential for continued growth.
The record high transaction volume on Shibarium is a strong indicator of increased usage and investor interest, which typically correlates with positive price action in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100