In a surprise show of momentum, the Shiba Inu token SHIB saw a 600% increase in transactions of over $100,000 within 24 hours. Nearly $100 million was moved in these large deals according to blockchain analytics firm IntoTheBlock.
The spike fueled an incredible 8.71 trillion SHIB tokens transferred on-chain, pushing total daily transactions to 10.44 trillion. This signals a massive uptick in activity surrounding the prominent crypto asset.
The explosion in high-value transactions is attributed to growing hype for Shibarium, Shiba Inu’s upcoming Layer 2 scaling solution expected by mid-August.
Despite unclear timelines, the SHIB community is eagerly anticipating Shibarium’s release, driving the surge in on-chain usage. Many believe the proprietary scaling platform could prove transformative for SHIB.
The spike reflects strong interest and optimism within the community, as investors prepare for major revelations upon launch. With specifics still private, the hype continues building as enthusiasts wait for potential game-changing developments.
The astronomical increase in large deals shows confidence in SHIB’s future as anticipation hits fever pitch ahead of Shibarium. All eyes are on its next move.
