CandleFocus What Happens When Shibarium Transaction Blowout Fizzles Out?
2024-11-02
Author: Content Editor
Shibarium, a decentralized exchange on the Shiba Inu ecosystem, experienced a significant increase in transaction volume in late October, reaching a high of 4.77 million transactions. However, daily transaction volumes have since dropped considerably. The team attributes the surge to initiatives by WoofSwap developers, who have driven growth through minting and burning campaigns. The decline in transaction volume between October 25 and 28 remains unclear. Some market observers speculate that if transaction volume drops significantly, Shiba Inu's price may slip and investors may lose interest. However, the Shiba Inu team has plans for new projects, including TREAT and Bury 2.0, which could sustain interest and confidence in the project. The current price of SHIB is $0.00001757, with a 0.83% rise in the last 24 hours.
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