Shiba Inu (SHIB) remains one of the popular projects in the crypto space. This article explores the recent progress of Shibarium and the current state of SHIB prices.
Achievements of Shibarium
Shibarium, a layer-2 solution for Shiba Inu, was officially launched in August 2023. Since then, the project has made significant progress, reaching over 1.12 billion transactions processed and 200 million active wallets. These successes have attracted the attention of industry participants.
SHIB Price Analysis
Despite Shibarium's achievements, the price of Shiba Inu has fallen by 3%, currently trading at $0.00001323. The current market dynamics are influenced by several factors, including weak token burns, which may indicate further price declines.
Market Influencing Factors
Recent data show that inflows to centralized exchanges exceed outflows, creating selling pressure. Token burn activities have been at low volumes, raising questions about future demand from investors.
Shiba Inu demonstrates significant development with the launch of Shibarium, but current market conditions suggest a pessimistic short-term outlook. It is essential to monitor demand dynamics and factors that may influence prices.
