{"id":364941,"date":"2024-01-21T17:00:28","date_gmt":"2024-01-21T11:30:28","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=364941"},"modified":"2024-01-21T18:24:06","modified_gmt":"2024-01-21T12:54:06","slug":"shib-spikes-5-as-shibarium-transactions-climb","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/shib-spikes-5-as-shibarium-transactions-climb\/","title":{"rendered":"SHIB spikes 5% as Shibarium transactions climb"},"content":{"rendered":"<ul>\n<li><em>In the last 24 hours, more than 4 million tokens were removed from circulation.<\/em><\/li>\n<li><em>Transaction count on L2 network Shibarium hit the highest value in two weeks.\u00a0<\/em><\/li>\n<\/ul>\n<p>Popular meme coin <a href=\"http:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" target=\"_blank\" rel=\"noopener\">Shiba Inu [SHIB]<\/a> made significant gains in the last 24 hours of trading, reversing a week-long downtrend.<\/p>\n<h4>SHIB bounces back<\/h4>\n<p>According to AMBCrypto&#8217;s reading of <a href=\"https:\/\/coinmarketcap.com\/currencies\/shiba-inu\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a> data, the second-largest meme coin rallied late at night on the 20th of January. SHIB rose 5% between 7 pm UTC and 11:30 pm UTC.<\/p>\n<p>However, a correction ensued as impatient traders started to profit-take.<\/p>\n<p>This caused SHIB to bend and as of this writing, the dog-themed token was exchanging hands at <span class=\"sc-f70bb44c-0 eZIItc base-text\">$0.000009557. Nevertheless, SHIB was still 1.78% higher than what it was at the same time the previous day.<\/span><\/p>\n<figure id=\"attachment_364944\" aria-describedby=\"caption-attachment-364944\" style=\"width: 1200px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/chart-2.jpeg\"><img decoding=\"async\" class=\"size-full wp-image-364944\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/chart-2.jpeg\" alt=\"\" width=\"1200\" height=\"800\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/chart-2.jpeg 1200w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/chart-2-300x200.jpeg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/chart-2-1024x683.jpeg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/chart-2-768x512.jpeg 768w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/a><figcaption id=\"caption-attachment-364944\" class=\"wp-caption-text\">Source: CoinMarketCap<\/figcaption><\/figure>\n<h4>Shibarium boosting SHIB?<\/h4>\n<p>While a conclusive reason behind the surge was yet to be ascertained, the jump in SHIB&#8217;s burn rate remained a likely explanation.<\/p>\n<p>In the last 24 hours, more than 4 million tokens were removed from circulation, exerting deflationary pressure on the market value of SHIB.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">In the past 24 hours, there have been a total of 4,061,252 <a href=\"https:\/\/twitter.com\/search?q=%24SHIB&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SHIB<\/a> tokens burned and 11 transactions. Visit <a href=\"https:\/\/t.co\/t0eRMnyZel\">https:\/\/t.co\/t0eRMnyZel<\/a> to view the overall total of <a href=\"https:\/\/twitter.com\/hashtag\/SHIB?src=hash&amp;ref_src=twsrc%5Etfw\">#SHIB<\/a> tokens burned, circulating supply, and more. <a href=\"https:\/\/t.co\/aTYz21DFjv\">pic.twitter.com\/aTYz21DFjv<\/a><\/p>\n<p>&mdash; Shibburn (@shibburn) <a href=\"https:\/\/twitter.com\/shibburn\/status\/1748933708806025386?ref_src=twsrc%5Etfw\">January 21, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The jump in burn rate was seemingly tied to an increase in transactions on the ecosystem\u2019s layer-2 blockchain Shibarium.<\/p>\n<p>According to AMBCrypto&#8217;s examination of Shibariumscan&#8217;s data, the transaction count hit 2.75 million on the 20th of January, the highest in two weeks.<\/p>\n<figure id=\"attachment_364959\" aria-describedby=\"caption-attachment-364959\" style=\"width: 902px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Daily-transactions.jpg\"><img decoding=\"async\" class=\"size-full wp-image-364959\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Daily-transactions.jpg\" alt=\"\" width=\"902\" height=\"322\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Daily-transactions.jpg 902w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Daily-transactions-300x107.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/Daily-transactions-768x274.jpg 768w\" sizes=\"(max-width: 902px) 100vw, 902px\" \/><\/a><figcaption id=\"caption-attachment-364959\" class=\"wp-caption-text\">Source: Shibariumscan.io<\/figcaption><\/figure>\n<p>For the unknown, each transaction on Shibarium automatically results in some SHIBs getting permanently removed from circulation.<\/p>\n<h4>Whales continue to hoard SHIB<\/h4>\n<p>Unfazed by SHIB&#8217;s performance on the price charts, large investors have been making significant moves.<\/p>\n<p>As per data from Santiment, the user cohort holding between 1,000 to 10 million SHIB tokens witnessed a considerable increase in their holdings over the last month.<\/p>\n<figure id=\"attachment_364965\" aria-describedby=\"caption-attachment-364965\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024.png\"><img decoding=\"async\" class=\"size-full wp-image-364965\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.21.23-21-Jan-2024-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-364965\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>Moreover, SHIB reserves on exchanges continue to deplete, with more number of SHIBs found in non-custodial wallets.<\/p>\n<p>This is typically interpreted as a wider accumulation trend, lending credence to the observations made earlier.<\/p>\n<figure id=\"attachment_364971\" aria-describedby=\"caption-attachment-364971\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024.png\"><img decoding=\"async\" class=\"size-full wp-image-364971\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024.png\" alt=\"\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/01\/SHIBA-INU-SHIB-11.29.17-21-Jan-2024-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-364971\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read\u00a0<a href=\"http:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shiba Inu&#8217;s [SHIB] Price Prediction<\/a>\u00a02024-25<\/p>\n<hr \/>\n<p>The Shiba Inu ecosystem took giant strides in 2023 by launching L2 Shibarium and introducing <a href=\"http:\/\/ambcrypto.com\/shib-the-metaverse-as-countdown-begins-heres-what-to-expect\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Shib the Metaverse<\/a>.<\/p>\n<p>These efforts are intended to increase the SHIB token&#8217;s real-world utility beyond the limited prisms of memes and jokes with which it has long been identified.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHIB&#8217;s price was still 1.78% higher at press time than its value the previous day.<\/p>\n","protected":false},"author":80,"featured_media":364975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,20],"tags":[],"class_list":["post-364941","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>SHIB spikes 5% as Shibarium transactions climb - AMBCrypto<\/title>\n<meta name=\"description\" content=\"Popular meme coin Shiba Inu rallied late night on the 20th of January, rising 5% between 7 pm UTC and 11:30 pm UTC.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link 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