Shibarium Nears Major Record: What’s Next for SHIB Price?

• Shibarium’s daily transaction count surged 209%, from 6,000 to 18,560 within a week.
• Shibarium aims to break the record of 420 million total transactions, currently at 417 million.
• SHIB price fluctuates in a symmetrical triangle pattern, indicating equilibrium in market demand and supply.

Shibarium, Shiba Inu’s layer-2 solution, is nearing a significant milestone as daily transactions surged by 209%. According to Shibariumscan, the daily transaction count jumped from 6,000 on May 14 to 18,560 on May 20. This spike in activity follows the implementation of the Shibarium hard fork on the mainnet, marking a pivotal moment for the Ethereum L2 protocol.

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With this surge, Shibarium aims to break the record of 420 million total transactions. Currently, the total transaction count stands at 417,525,512. Although it is uncertain when this record will be achieved, the recent growth indicates Shibarium is on the right track.

Meanwhile, Shiba Inu (SHIB) has been fluctuating within a symmetrical triangle pattern. This pattern suggests an equilibrium in market demand and supply at current prices. Buyers are currently attempting to push the price beyond the descending resistance line. At the time of writing, SHIB is priced at $0.000025, marking a slight decline of over 1%.

Bullish traders are targeting a move above $0.000030. A successful breakout above this downtrend line could weaken bearish forces and potentially drive the price to $0.000035, where significant resistance is anticipated.

Looking ahead, the future of Shiba Inu in the crypto industry appears promising. As Shibarium continues to grow and break records, it strengthens Shiba Inu’s position in the market. With ongoing developments and increased adoption, Shiba Inu is well-positioned for sustained growth and innovation.

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