\t\t\t\t\t\t\t\t![](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/03\/IMG_20230322_164923565_2-scaled-e1679645058899-80x80.jpg\")
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\t\t\t\t\t\t\t\tPosted: September 4, 2023 Shiba Inu\u2019s [SHIB]<\/span><\/a> Shibarium was quick to reach a milestone that reflected its popularity in the crypto space. Only weeks after launch, Shibarium\u2019s total number of wallets crossed the 1 million mark. Though Shibarium\u2019s adoption was on the rise, Shiba Inu ecosystem tokens were not performing in the best interest of investors, as their charts were painted red.\u00a0<\/span><\/p>\n Read<\/span> Shiba Inu\u2019s [SHIB] Price Prediction<\/span><\/a> 2023-24<\/span><\/p>\n Weeks after the launch, Shiba Inu\u2019s much-talked-about Shibarium was quick to scale up its adoption as its total wallets reached 1,010,171. Not only that, but Shibarium\u2019s total number of transactions was also about to reach the same milestone. <\/span><\/p>\n At press time, the layer 2\u2019s total transactions stood at 938,971, with a daily transaction count of 100,000. To date, more than 449,000 blocks have been created, with an average block time of 5 seconds.\u00a0<\/span><\/p>\n Source: Shibariumscan.io<\/p>\n<\/div>\n LUCIE, an official Twitter handle that posts updates related to the Shiba Inu ecosystem, recently revealed that Shibarium has started to utilize more stablecoins such as USDT, USDC, and DAI. An expansion in stablecoin utilization can have a positive impact on the layer 2 as it can help increase network usage and adoption over the coming weeks.\u00a0<\/span><\/p>\n #Shibarium<\/a> now utilizes stablecoins such as $DAI<\/a>, $USDT<\/a>, $USDC<\/a>, and several other tokens. You can check this on https:\/\/t.co\/elTxSe0372<\/a> pic.twitter.com\/28ekBAsk8U<\/a><\/p>\n \u2014 \ud835\udc0b\ud835\udc14\ud835\udc02\ud835\udc08\ud835\udc04 | Summer of Shibarium (@LucieSHIB) September 3, 2023<\/a><\/p>\n<\/blockquote>\n \u00a0<\/p>\n Though Shibarium reached new highs,<\/span> SHIB<\/span><\/a>\u2019s performance was underwhelming for the last couple of days. The memecoin\u2019s social volume declined over the last week, suggesting that it was not a topic of discussion in the crypto community. <\/span><\/p>\n Moreover, negative sentiment around the token was also high, as evident from the dip in its weighted sentiment.\u00a0<\/span><\/p>\n Source: Santiment<\/p>\n<\/div>\n The memecoin\u2019s price action was also under the bears\u2019 control. According to<\/span> CoinMarketCap<\/span><\/a>, SHIB was down by more than 2.5% over the last week. At press time, it was trading at $0.000007764 with a market capitalization of over $4.5 billion. <\/span><\/p>\n Nonetheless, Shiba Inu remained whales favorite as Whalestats\u2019<\/span> data<\/span><\/a> revealed that it was the most traded token among the top 100<\/span> Ethereum [ETH]<\/span><\/a> whales in the last 24 hours.<\/span><\/p>\n SHIB<\/span><\/a>\u2019s exchange reserve was also<\/span> declining<\/span><\/a>, suggesting that it was not under selling pressure, which could help turn the situation around in the coming days.<\/span><\/p>\n Bone ShibaSwap [BONE],<\/span><\/a> which is one of the main tokens for Shibarium, was also under pressure as its value dropped by over 22% last week. At the time of writing, it was trading at $1.05 with a market cap of over $240 million. Santiment\u2019s chart pointed out a bearish price volume divergence.\u00a0<\/span><\/p>\n Is your portfolio green? Check the<\/span> Shiba Inu Profit Calculator<\/span><\/a>\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n BONE\u2019s supply on exchanges increased while its supply outside of exchanges dropped slightly. This indicated that investors were selling their holdings, causing BONE\u2019s price to drop. Another bearish metric was BONE\u2019s network growth, which plummeted last week.<\/span><\/p>\n
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\nShibarium reaches a new milestone\u00a0<\/strong><\/h4>\n
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SHIB and BONE are under pressure<\/strong><\/h4>\n
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