Shiba Inu (SHIB) Price: Network Activity Surges with Shibarium Growth

TLDR

• Shibarium Layer-2 surpassed 600 million transactions and reached 2 million total addresses
• Total Value Locked (TVL) hit new all-time high of $6 million
• Daily active addresses peaked at 12,000 on December 8th before declining below 2,000
• SHIB price rose from $0.000017 in June to $0.000027 in early December
• Technical indicators show SHIB in uptrend with support at $0.00002357

Shiba Inu’s Layer-2 scaling solution, Shibarium, has reached a major milestone by exceeding 600 million total transactions, marking rapid growth for the network’s infrastructure. The achievement comes alongside other key metrics showing expanded adoption of the platform.

Data from network monitoring tools confirms that Shibarium has also surpassed 2 million total addresses, indicating growing user adoption. The network saw peak activity on December 8th, when daily active addresses touched 12,000, though this metric has since declined to below 2,000 addresses.

The Total Value Locked (TVL) in Shibarium protocols has reached a new all-time high of $6 million. This metric represents the total value of crypto assets deposited in the network’s smart contracts and serves as a key indicator of user confidence and platform utilization.

Transaction volume growth has maintained steady momentum throughout the final quarter of 2024. The network passed the 500 million transaction mark last week before quickly advancing beyond 600 million, demonstrating accelerated adoption rates.

Technical analysis of SHIB price action shows correlation with Shibarium’s expanding metrics. The token price has moved from June lows of $0.000017 to December highs above $0.000027, though recent days have seen some retracement from these levels.

Current price indicators show SHIB maintaining an upward trend on daily timeframes. The 50-day moving average provides technical support at the $0.00002357 level, while the Relative Strength Index (RSI) reads 50.60, suggesting neutral momentum.

Shiba Inu Price on CoinGecko

Trading volume has seen modest decline in recent sessions, with market participants appearing to await clear direction before establishing new positions. The $0.000030 price level remains a key resistance point watched by traders.

Looking at network development, Shibarium’s growth comes from its role as a scaling solution designed to reduce transaction costs and increase processing speed. The platform enables faster and cheaper transactions compared to the main Ethereum network.

The recent surge in TVL suggests growing comfort among users in deploying assets within the Shibarium ecosystem. This metric has shown particularly strong growth in the fourth quarter, rising steadily to its current $6 million level.

Daily transaction counts have maintained consistency even as total transaction milestones are reached. This indicates sustainable user activity rather than temporary spikes driven by specific events or promotions.

Address growth metrics show both new and returning users engaging with the network. The rise to 2 million total addresses represents organic expansion of the user base over time.

Network data indicates balanced distribution between new address creation and activity from existing addresses. This pattern typically suggests healthy ecosystem development rather than concentrated usage by a small number of participants.

Technical infrastructure has demonstrated stability during the growth phase, with network uptime remaining robust as transaction volumes expanded. This performance metric supports confidence in the platform’s ability to scale.

The correlation between Shibarium’s expanding metrics and SHIB price movement has drawn market attention. Price support levels have generally held during recent consolidation phases.

Most recent data shows continued steady growth in network metrics, with transaction counts maintaining their upward trajectory as of the latest monitoring period.