Shiba Inu’s Shibarium Daily Transactions Drop to 624,140
Shiba Inu’s Shibarium Transactions Decline
- Shibarium's daily transactions dropped from over 4 million on August 23 to 1.09 million on August 24.
- On August 25, transactions fell further to 624,140, marking a two-month low.
- August 26 saw 1.76 million transactions, still below the 4 million average.
- Decreased transactions lead to fewer SHIB token burns, negatively impacting price potential.
- Burn rate decreased by over 87% in the last week; only 8.8 million tokens burned during this period.
- Burns increased by over 500% in the last 24 hours, with 1 million tokens burned.
- Active and new account metrics on Shibarium are also declining.
Potential Bullish Outlook for SHIB Price
- Analyst Javon Marks identified an Inverse Head and Shoulders pattern in SHIB's structure.
- If breakout occurs, target could exceed $0.000081, representing a potential increase of over 540%.
- Current all-time high (ATH) for SHIB is $0.00008845 from October 2021.
- Fundamentals like the Shib Alpha Layer may support future price increases.
SHIB price currently at approximately $0.00001253, reflecting a 2% increase in the last 24 hours.
