{"id":561960,"date":"2023-11-22T15:00:55","date_gmt":"2023-11-22T15:00:55","guid":{"rendered":"https:\/\/shenyangcang.com\/?p=561960"},"modified":"2024-06-11T10:43:51","modified_gmt":"2024-06-11T10:43:51","slug":"shibarium-shiba-inu-price-down","status":"publish","type":"post","link":"https:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shibarium-shiba-inu-price-down\/","title":{"rendered":"Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?"},"content":{"rendered":"

Shibarium, the Ethereum Layer network from the Shiba Inu team<\/a>, has had a rocky few months following its highly anticipated launch. After surging immediately following its launch, its figures dropped as interest waned. However, there has been a change in the performance as transaction numbers are spiking once again.<\/p>\n

Transaction Numbers Jump 288% On Shibarium<\/h2>\n

In the last few days, there has been a marked increase<\/a> in the number of transactions carried out on the Shibarium network. The Shiba Inu Layer 2 blockchain<\/a> saw a nice jump from November 19 to November 22.<\/p>\n

Related Reading: Did JPMorgan Secretly Buy 7.5 Million XRP? Here\u2019s What We Know<\/a><\/div>\n

On November 19, the total number of transactions on the network was 8,930. But as of November 22, this figure is sitting at an impressive 34,670 transactions. This represents a 288% increase in the space of three days. As a result, the total number of transactions carried out on the network since inception has now crossed 3.578 million.<\/p>\n

\"Shibarium<\/p>\n

Transaction numbers spike 288% | Source: ShibariumScan<\/pre>\n
There was also a small uptick in the number of active accounts on the network<\/a>, albeit to a smaller extent compared to the transaction count. Active accounts went from 569 on November 20 to 648 on November 22.<\/p>\n
However, amid all of these, the amount of new blocks created on the network<\/a> took a nosedive. Between November 20 and November 22, the number of new blocks created on Shibarium went from 17,214 to 13,907, a 20% decrease in two days.<\/p>\n
\"Shiba<\/p>\n
SHIB price crashes alongside Bitcoin | Source: SHIBUSD on Tradingview.com<\/a><\/pre>\n
Why Is Shiba Inu Price Down?<\/h2>\n
Despite the immense growth recorded in the Shibarium over the last few days, the Shiba Inu price<\/a> has not followed this trend. Rather, the meme coin is seeing losses, especially on the 24-hour chart and this can be attributed to the general crypto market downtrend.<\/p>\n
Related Reading: AVAX Open Interest Climbs 10.4% To $224 Million, Is $30 Possible?<\/a><\/div>\n
The crypto market saw a crash after Changpeng Zhao announced he would be stepping down as the CEO of Binance and that the exchange had agreed to a $4 billion fine with the DOJ. As a result, the price of Bitcoin dropped from above $36,000 to mid-$35,000s before recovery. However, the damage was already done and it dragged the altcoin market down with it.<\/p>\n
Currently, the price of Shiba Inu<\/a> is down 3.62% to trade at $0.000008061. This decline follows the Bitcoin trend, suggesting that a recovery in the Bitcoin price would translate into a recovery in the Shiba Inu price as well.<\/p>\n
Follow Best Owie on X (formerly Twitter)<\/a> for market insights, updates, and the occasional funny tweet\u2026 Featured image from Crypto Valley Journal, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Shibarium, the Ethereum Layer network from the Shiba Inu team, has had a rocky few months following its highly anticipated launch. After surging immediately following its launch, its figures dropped as interest waned. However, there has been a change in the performance as transaction numbers are spiking once again. Transaction Numbers Jump 288% On Shibarium In the last few days, there has been a marked increase in the number of transactions carried out on the Shibarium network. The Shiba Inu Layer 2 blockchain saw a nice jump from November 19 to November 22. Related Reading: Did JPMorgan Secretly Buy 7.5 Million XRP? Here\u2019s What We Know On November 19, the total number of transactions on the network was 8,930. But as of November 22, this figure is sitting at an impressive 34,670 transactions. This represents a 288% increase in the space of three days. As a result, the total number of transactions carried out on the network since inception has now crossed 3.578 million. Transaction numbers spike 288% | Source: ShibariumScan There was also a small uptick in the number of active accounts on the network, albeit to a smaller extent compared to the transaction count. Active accounts went from 569 on November 20 to 648 on November 22. However, amid all of these, the amount of new blocks created on the network took a nosedive. Between November 20 and November 22, the number of new blocks created on Shibarium went from 17,214 to 13,907, a 20% decrease in two days. SHIB price crashes alongside Bitcoin | Source: SHIBUSD on Tradingview.com Why Is Shiba Inu Price Down? Despite the immense growth recorded in the Shibarium over the last few days, the Shiba Inu price has not followed this trend. Rather, the meme coin is seeing losses, especially on the 24-hour chart and this can be attributed to the general crypto market downtrend. Related Reading: AVAX Open Interest Climbs 10.4% To $224 Million, Is $30 Possible? The crypto market saw a crash after Changpeng Zhao announced he would be stepping down as the CEO of Binance and that the exchange had agreed to a $4 billion fine with the DOJ. As a result, the price of Bitcoin dropped from above $36,000 to mid-$35,000s before recovery. However, the damage was already done and it dragged the altcoin market down with it. Currently, the price of Shiba Inu is down 3.62% to trade at $0.000008061. This decline follows the Bitcoin trend, suggesting that a recovery in the Bitcoin price would translate into a recovery in the Shiba Inu price as well. Follow Best Owie on X (formerly Twitter) for market insights, updates, and the occasional funny tweet\u2026 Featured image from Crypto Valley Journal, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":561964,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92559],"tags":[83668,89178,84473,89716,83667,89157,87680,89179,84562,84558],"class_list":["post-561960","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu-coin","tag-shib","tag-shib-news","tag-shib-price","tag-shib-price-performance","tag-shiba-inu","tag-shiba-inu-news","tag-shibarium","tag-shibarium-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\nShibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?<\/title>\n<meta name=\"description\" content=\"Shibarium, 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/shenyangcang.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?","url":"http:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shibarium-shiba-inu-price-down\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/shenyangcang.com\/news\/shiba-inu-coin\/shibarium-shiba-inu-price-down\/"},"thumbnailUrl":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/11\/Shibarium-Shiba-Inu.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/11\/Shibarium-Shiba-Inu.jpg?fit=2560%2C1460"},"articleSection":"Shiba Inu Coin","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["shib","shib news","shib price","shib price performance","shiba inu","shiba inu news","shibarium","shibarium news","shibusd","shibusdt"],"dateCreated":"2023-11-22T15:00:55Z","datePublished":"2023-11-22T15:00:55Z","dateModified":"2024-06-11T10:43:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Shibarium Transactions Spike 288%, But Why Is Shiba Inu Price Down Today?\",\"url\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/shiba-inu-coin\\\/shibarium-shiba-inu-price-down\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/shenyangcang.com\\\/news\\\/shiba-inu-coin\\\/shibarium-shiba-inu-price-down\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Shibarium-Shiba-Inu.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2023\\\/11\\\/Shibarium-Shiba-Inu.jpg?fit=2560%2C1460\"},\"articleSection\":\"Shiba Inu Coin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/shenyangcang.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"shib\",\"shib news\",\"shib price\",\"shib price performance\",\"shiba inu\",\"shiba inu news\",\"shibarium\",\"shibarium news\",\"shibusd\",\"shibusdt\"],\"dateCreated\":\"2023-11-22T15:00:55Z\",\"datePublished\":\"2023-11-22T15:00:55Z\",\"dateModified\":\"2024-06-11T10:43:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/shenyangcang.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/shenyangcang.com\/wp-content\/uploads\/2023\/11\/Shibarium-Shiba-Inu.jpg?fit=2560%2C1460","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/561960"}],"collection":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/comments?post=561960"}],"version-history":[{"count":0,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/posts\/561960\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media\/561964"}],"wp:attachment":[{"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/media?parent=561960"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/categories?post=561960"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/shenyangcang.com\/wp-json\/wp\/v2\/tags?post=561960"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}