TL;DR<\/strong><\/p>\n Shiba Inu\u2019s ecosystem expanded substantially in August 2023 when the layer-2 scaling solution<\/span> \u2013 <\/span>Shibarium<\/span> \u2013 <\/span>officially <\/span>saw the light of day<\/span><\/a>.<\/span> The protocol\u2019s primary goals are to reduce transaction costs, enhance scalability, and improve speed.\u00a0<\/span><\/p>\n During its relatively short existence, Shibarium hit numerous milestones, showcasing its rapid progress. Most recently, the <\/span>number of<\/span> total transactions <\/span>processed<\/span><\/a> on the network surpassed 800 million.\u00a0<\/span><\/p>\n Other Shibarium-related metrics have also surged lately. The total number of wallet addresses crossed two million, whereas total blocks are inching <\/span>away<\/span> from the nine million mark.\u00a0<\/span><\/p>\n Over the past several months, Shibarium <\/span>underwent<\/span>\u00a0important developments, such as\u00a0<\/span>launching<\/span><\/a> a new user interface (UI) update that improves compatibility with popular self-custody wallets.<\/span>\u00a0<\/span><\/p>\n It also <\/span>introduced<\/span><\/a> an update through a hard fork to implement quicker block processing times and <\/span>adopted<\/span><\/a> a burning mechanism. <\/span>The latter differs from the original program but has the same goal<\/span>: to reduce<\/span> the tremendous supply of Shiba Inu tokens, thus potentially making them <\/span>more valuable (assuming demand doesn\u2019t head south).<\/span>\u00a0<\/span><\/p>\n Shibarium\u2019s progress <\/span>is often touted<\/span> as one of the elements that could contribute to a SHIB rally. However, the price of the meme coin has underperformed, dropping by 1.5% on a 24-hour scale.<\/span><\/p>\n This<\/span> contrasts the overall resurgence of the cryptocurrency market, where Bitcoin (BTC) briefly exceeded $97,000, while <\/span>Ripple (XRP)<\/span><\/a> reached a seven-year high of almost $2.90.<\/span><\/p>\n On the other hand, some factors suggest that SHIB could soon catch up with the rest of the sector. For instance, the Relative Strength Index (RSI) recently <\/span>plunged<\/span><\/a> below the bullish zone <\/span>of<\/span> 30. <\/span>This<\/span> indicates that the asset is oversold and undervalued and could present a buying opportunity.\u00a0<\/span><\/p>\n SHIB\u2019s exchange netflow is also worth mentioning. Over the last seven days, outflows have significantly <\/span>surpassed<\/span><\/a> inflows (according to CryptoQuant\u2019s data), signaling a shift from centralized platforms toward private wallets. <\/span>This<\/span> could be <\/span>considered<\/span> bullish since it reduces the immediate selling pressure.<\/span>\u00a0<\/span><\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
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Shibarium Keeps Advancing<\/h2>\n
SHIB Price Outlook<\/span><\/h2>\n
![\"SHIB](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/01\/Shibarium_CB-35.jpg\")
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