Shibarium continues to set new records for highest ever levels, which indicates that the current upward trend will continue for the foreseeable future.
The number of transactions on this Layer-2 blockchain has reached a new all-time high (ATH) in a very short period of time after its restart.
Information gleaned through the Shibariumscan explorer shows that the total number of transactions has surpassed two million, with the current count being at 2,328,690.
There are now 1,155,622 wallets that are linked to one another. After passing a noteworthy milestone of 500,000, the number of extracted blocks has steadily increased, and it is presently at a whopping 606,826.
Around three weeks ago, the relaunch of Shibarium was forced to commence the reestablishment of the Layer-2 solution. The solution’s inability to cope with the massive amount of inbound traffic that happened upon its unveiling at the Blockchain Futurist Conference in Toronto on August 15 forced this decision.
SHIB and the Unification Fund weren’t the only groups that helped pull off the relaunch. Polygon was also instrumental in getting Shibarium off the ground.
As of this writing, one Shiba Inu (SHIB) is worth $0.000007257, reflecting a tiny increase of 0.77% throughout the course of the day’s trade but a drop of 5.23% compared to the prior week.
The $0.00000681 price level provides excellent support for this meme-inspired digital asset, with the $0.0000076 price level being a significant resistance barrier. In addition, the market capitalization of the dog meme cryptocurrency has decreased by $1.85 billion during the previous month.
Technically speaking, SHIB is trading at a discount to its 200-day simple moving average, suggesting that negative market sentiment may be dominating. Only eight out of the previous thirty days have been positive for SHIB, or 27% of the time frame, pointing to choppy market conditions.
SHIB’s price has fluctuated widely over the last year, with a major decline of about -43% during the previous 12 months. In comparison to the top 100 cryptocurrencies, SHIB has underperformed by 61% over the last year, putting it in last place.
In addition, SHIB has reversed course dramatically from its record high, falling by a whopping -92%. SHIB’s market size puts it in the middle of the pack when it comes to liquidity, which indicates that trading volume for SHIB is around average.
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