The Shibarium's major indicators have all seen triple-digit rise, what's going on?

Key indicators of Shibarium suggest that the Shiba Inu ecosystem may be preparing for an upward trend. It is worth noting that the trading data of Shibarium shows a three-digit percentage increase in transactions and fees paid with BONE in the past week. This indicates that Shiba Inu may be gaining more attention from traders, which could lead to a rebound of SHIB to a critical support level this week.

According to the latest data, the trading volume of the Shibarium network surged over the weekend, skyrocketing by 441% on Saturday. Over 13,190 transactions were recorded on Shibarium on Saturday, compared to less than 3,500 earlier this week. The surge in trading volume led to an increase in network fees as the increased load put a strain on the network.

As a result, the average cost of paying with BONE in Shibarium trading has risen by 176%. In addition, Shibariumscan data shows that the number of new accounts opened on Sunday was 154, an increase of 1,600% from the 9 new accounts opened on Monday, June 10th.

Interestingly, these numbers are small compared to the metrics recorded on Shibarium earlier this year. However, their rise occurred during a particularly pessimistic period in the Shiba Inu community. This is a positive signal for the price of SHIB, as increased trading will raise gas fees, thereby increasing the amount of SHIB tokens to be burned.

The trading price of SHIB is $0.00002013, which has fallen by 2.21% in the past 24 hours. It is worth noting that SHIB has also experienced a decline in the past seven days amidst the market crash led by Bitcoin. As a result, SHIB has lost 13.11% of its market cap in the past seven days as traders continue to exit long positions.

SHIB is currently trading near the psychological level of $0.000020, despite the surge in Shibarium's weekend trading volume, SHIB is still likely to further decline. According to data, the resistance at this price level is formed by about 5,270 addresses purchasing approximately 3.97 trillion SHIB tokens. If SHIB fails to hold this support level and falls below, the next key level will be $0.000190, with 4,310 addresses currently holding 6.21 trillion SHIB tokens.

Shiba Inu's marketing director Lucie recently hinted that everyone who joins Shibarium in the first year will receive an airdrop, which has aroused the interest of Shib enthusiasts. However, Lucie clarified and pointed out that this is just an imaginary scenario and does not guarantee anything.

"This is a hypothetical question, it doesn't have any meaning. Just curious," Lucy said on social media platform X.

(Data Source: Scott Matherson)