Shiba Inu Scaling Solution Nears Critical Mileston

Solution for scaling Shiba Inu nears critical milestoneWhen all 300 million transactions have been processed on the Shibarium chain, the cryptocurrency will have achieved a new benchmark. Since its launch, Shibarium, the scaling solution developed by Shiba Inu, has processed 295 million transactions. With a 5% growth in the previous month, the total number of accounts has reached a high of 62,725. These numbers provide credence to the idea that Shiba Inus are popular and important in the market. Price gains for the meme coin are probable in the near future. Over the last 30 days, the price of SHIB has fallen by 8%. The 10-day and 50-day long-term exponential moving averages for Shiba Inu are $0.00000953 and $0.00000966, respectively, and the stock is now trading below these moving averages. The $0.00001056 level has been a hurdle for the SHIB price since April 2023. The 23.6% Fibonacci Retracement level of the drop between April 2022 and June 2023 is $0.00001119, and a break of this resistance might lead SHIB testing it. The number of transactions on the Shiba Inu Layer 2 chain, Shibarium, is getting closer to 300 million. Those who had Shiba Inu dogs saw a loss of 10% each month and roughly 5% per week in value. Over the last month, Shibarium has seen a 8% increase in the number of accounts on the chain. Upon completing 300 million transactions, Shibarium, the Layer 2 chain developed by Shiba Inu, is poised to break the current record. This milestone has the potential to accelerate the price recovery of SHIB, since Shibarium is the ecosystem's scaling solution.Right now, on Binance, one Shiba Inu will set you just $0.0000971.

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