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Shiba Inu Shibarium Skyrockets 3,436% in New Accounts in 24 Hours
Gamza Khanzadaev
The Shiba Inu Shibarium saw an astonishing 3,436% increase in new accounts in just 24 hours; What’s driving this sudden pump?
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Shiba Inu’s blockchain platform, Shibarium, has seen a significant increase in activity, with the number of new accounts increasing by 3,436% in just 24 hours. Data from Shibariumscan shows that new accounts on the network went from 30 to 1,031 overnight, indicating a substantial increase in user engagement.
This increase follows concerns about Shibarium’s declining activity and attention. Rapid change in a single day has altered this narrative. In addition to the increase in new accounts, the volume of transactions on the Shibarium the network is also growing, going from 4,751 to 8,527 transactions. This represents an 80% increase in transaction activity over the same period.
Source: Shibariumscan
At the same time, if we judge the number of active accounts in the period in question, it grew by 1,243 accounts per day, which means that all transaction activity on Shibarium was provided by new users.
What is behind such an anomalous increase in blockchain activity Shiba Inu? It’s an open question but it’s probably based on the price momentum of SHIB – a popular meme-inspired cryptocurrency – which is up nearly 5% since the opening of a new daily candle on its chart.
SHIB to USD by CoinMarketCap
Usually, activity on the network is a precursor to the price movements of its tokens, but it seems in the case of Shiba Inu we are seeing the opposite story.
This spike in user engagement and transaction volume could signal a new phase of growth for Shibarium. The next few days will be important to determine whether this increase represents a sustainable trend or a temporary anomaly.
About the author
Gamza Khanzadaev
Financial analyst, trader and cryptocurrency enthusiast.
Gamza graduated in Finance and Credit with a specialization in securities and financial derivatives. He then obtained a master’s degree in banking and asset management.
He wants to help cover economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.