{"id":626115,"date":"2024-06-24T22:00:55","date_gmt":"2024-06-24T22:00:55","guid":{"rendered":"https:\/\/www.ktsl888.com\/?p=626115"},"modified":"2024-06-24T12:21:26","modified_gmt":"2024-06-24T12:21:26","slug":"shiba-inu-493-shibarium-fees","status":"publish","type":"post","link":"https:\/\/www.ktsl888.com\/shiba-inu\/shiba-inu-493-shibarium-fees\/","title":{"rendered":"Shiba Inu Enters Accumulation Zone Amid 493% In Shibarium Transaction Fees"},"content":{"rendered":"<p><span style=\"font-weight: 400\">The current Shiba Inu price action might be leaving some investors wanting, particularly as the crypto has now extended its 30-day losses by over 30%. However, recent on-chain data and technical analysis indicate that the patience is about to pay off. To be more specific, the current price downturn has seen Shiba Inu entering the accumulation zone, which could signal the start of the next bull run. At the same time, a concurrent 493% increase in transaction fees within the Shibarium network suggests it could be the ideal time for investors to load up.<\/span><\/p>\n<h2>Shiba Inu Price Hits 100-Day Low As Bears Take Control<\/h2>\n<p><span style=\"font-weight: 400\">The past few weeks have been a bloodbath for Shiba Inu (SHIB) holders. After rebounding at the $0.000022 support and spiking briefly to reach $0.00002756 in the last week of May, the popular meme coin has plunged over 30%, briefly crashing below $0.000017 this week. This brutal selloff has dragged SHIB to a 100-day low, wiping out billions from its market cap.<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/bitcoin\/bitcoin-crash-to-52000\/\">Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000<\/a><\/div>\n<p><span style=\"font-weight: 400\">Experts have blamed this fall on investors pulling out of meme coins. Shiba Inu wasn&#8217;t left out, as the meme coin <\/span><a href=\"https:\/\/bitcoinist.com\/shiba-inu-sell-pressure-shib\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">also witnessed<\/span><\/a><span style=\"font-weight: 400\"> major transfers to crypto exchanges.<\/span><\/p>\n<p><span style=\"font-weight: 400\">From the price side of things, SHIB&#8217;s decline means traders now have the opportunity to buy at its current low prices, which may herald the reversal of the bearish trend. You would think with SHIB&#8217;s price taking a beating lately, activity on the network would be slowing down. Surprisingly, that&#8217;s not the case at all.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Recent <\/span><a href=\"https:\/\/www.shibariumscan.io\/stats\" rel=\"nofollow\"><span style=\"font-weight: 400\">data from Shibariumscan<\/span><\/a><span style=\"font-weight: 400\"> indicates that transaction fees on the Shibarium layer-2 network have skyrocketed by 493% last week. The massive surge in transaction fees came from increased transaction activity on the network. Notably, the number of new transactions moved from 5,865 at the beginning of the week to 16,337 at the end of the week, a 178% increase.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Although transaction fees on Shibarium are paid in BONE tokens, a portion of the tokens are converted into SHIB and then burned. This, in turn, reduces the amount of <\/span><a href=\"https:\/\/bitcoinist.com\/robinhood-moves-2-2-trillion-shiba-inu\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">SHIB tokens in circulation<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2>What\u2019s Next For SHIB?<\/h2>\n<p><span style=\"font-weight: 400\">At the time of writing, SHIB is trading at $0.00001702 and seems to be consolidating. Experts are now divided into different schools of thought about the future of meme coins,<\/span><a href=\"https:\/\/www.ktsl888.com\/shiba-inu\/shiba-inu-analyst-0-00015\/\"><span style=\"font-weight: 400\"> including SHIB<\/span><\/a><span style=\"font-weight: 400\">. <\/span><a href=\"https:\/\/x.com\/ki_young_ju\/status\/71015734\" rel=\"nofollow\"><span style=\"font-weight: 400\">According to<\/span><\/a><span style=\"font-weight: 400\"> Ki Young Ju, CEO of CryptoQuant, the current downtrend suggests meme coin dominance in the altcoin market could finally be over.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/www.ktsl888.com\/news\/polygon-matic-turns-bullish-after-losing-streak-is-a-1000-rally-possible-from-here\/\">Polygon (MATIC) Turns Bullish After Losing Streak \u2013 Is A 1,000% Rally Possible From Here?<\/a><\/div>\n<p><span style=\"font-weight: 400\">On the other hand, analyst Javon Marks believes Shiba Inu still has room to break to the upside, and the recent pullback could also be a contributing factor. <\/span><a href=\"https:\/\/x.com\/JavonTM1\/status\/04719728\" rel=\"nofollow\"><span style=\"font-weight: 400\">Marks asserts<\/span><\/a><span style=\"font-weight: 400\"> that Shiba Inu is still up by 100% since its last bullish wave and it has the potential to go up by another 294%. Price targets are at $0.000081 and $0.0001553.<\/span><\/p>\n<figure style=\"width: 3286px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/iClXZcPY\/\" alt=\"Shiba Inu price chart from Tradingview.com\" width=\"3286\" height=\"1576\"><figcaption class=\"wp-caption-text\">SHIB price drops to $0.000016 | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">SHIBUSDT on Tradingview.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The current Shiba Inu price action might be leaving some investors wanting, particularly as the crypto has now extended its 30-day losses by over 30%. However, recent on-chain data and technical analysis indicate that the patience is about to pay off. To be more specific, the current price downturn has seen Shiba Inu entering the accumulation zone, which could signal the start of the next bull run. At the same time, a concurrent 493% increase in transaction fees within the Shibarium network suggests it could be the ideal time for investors to load up. Shiba Inu Price Hits 100-Day Low As Bears Take Control The past few weeks have been a bloodbath for Shiba Inu (SHIB) holders. After rebounding at the $0.000022 support and spiking briefly to reach $0.00002756 in the last week of May, the popular meme coin has plunged over 30%, briefly crashing below $0.000017 this week. This brutal selloff has dragged SHIB to a 100-day low, wiping out billions from its market cap. Related Reading: Bitcoin Crash: Crypto Analyst Reveals Why Price Could Drop To $52,000 Experts have blamed this fall on investors pulling out of meme coins. Shiba Inu wasn&#8217;t left out, as the meme coin also witnessed major transfers to crypto exchanges. From the price side of things, SHIB&#8217;s decline means traders now have the opportunity to buy at its current low prices, which may herald the reversal of the bearish trend. You would think with SHIB&#8217;s price taking a beating lately, activity on the network would be slowing down. Surprisingly, that&#8217;s not the case at all.\u00a0 Recent data from Shibariumscan indicates that transaction fees on the Shibarium layer-2 network have skyrocketed by 493% last week. The massive surge in transaction fees came from increased transaction activity on the network. Notably, the number of new transactions moved from 5,865 at the beginning of the week to 16,337 at the end of the week, a 178% increase.\u00a0 Although transaction fees on Shibarium are paid in BONE tokens, a portion of the tokens are converted into SHIB and then burned. This, in turn, reduces the amount of SHIB tokens in circulation. What\u2019s Next For SHIB? At the time of writing, SHIB is trading at $0.00001702 and seems to be consolidating. Experts are now divided into different schools of thought about the future of meme coins, including SHIB. According to Ki Young Ju, CEO of CryptoQuant, the current downtrend suggests meme coin dominance in the altcoin market could finally be over.\u00a0 Related Reading: Polygon (MATIC) Turns Bullish After Losing Streak \u2013 Is A 1,000% Rally Possible From Here? On the other hand, analyst Javon Marks believes Shiba Inu still has room to break to the upside, and the recent pullback could also be a contributing factor. Marks asserts that Shiba Inu is still up by 100% since its last bullish wave and it has the potential to go up by another 294%. Price targets are at $0.000081 and $0.0001553. Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":626145,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83740],"tags":[83668,89178,84473,83667,89157,86437,87680,89267,89179,84562,84558],"class_list":["post-626115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-shiba-inu","tag-shib","tag-shib-news","tag-shib-price","tag-shiba-inu","tag-shiba-inu-news","tag-shiba-inu-price","tag-shibarium","tag-shibarium-network","tag-shibarium-news","tag-shibusd","tag-shibusdt"],"acf":[],"yoast_head":"\n<title>Shiba Inu Enters Accumulation Zone Amid 493% In Shibarium Transaction Fees<\/title>\n<meta name=\"description\" content=\"The current Shiba Inu price action might be leaving some investors wanting, particularly as the crypto 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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