Shibarium Sees Soaring Transactions But Modest Value Despite Recent SHIB Price Uptick
• Shibarium layer-2 blockchain nearing 300 million transactions, up over 9,000% since September 2022 • Currently averaging 1.96 million daily transactions, down from over 7 million daily in December peak • Despite high transaction volume, Shibarium total value locked is only around $833,000 • Recent SHIB withdrawal of $752,000 by wallet linked to Justin Sun coincides with coin's reversal and 2.3% price uptick • Price gains mark shift from recent downward trend as token potentially positions for a breakout