Shiba

Bone ShibaSwap

Shiba Inu

Daily

Bone

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/shibarium-users-leave-the-platform/" data-wpel-link="internal">Shibarium Users Leave the Platform</a> 
Shiba Inu (SHIB) is experiencing a significant decline. Recently, user activity on the Layer-2 (L2) platform Shibarium has visibly decreased, as shown in the charts. On Monday, due to the market downturn, demand for the network fell to its lowest monthly level. This decline occurred despite the prolonged drop in the value of Bone ShibaSwap (BONE), the token used to pay transaction fees on the network. Additionally, BONE’s price has dropped by over 11% in the last 30 days, yet it has not affected users’ return to the L2. 
<h2 style="text-align: justify" id="shibarium-users-leave-the-platform">Shibarium Users Leave the Platform</h2> 
To briefly introduce Shibarium, it is an L2 blockchain built on the Ethereum network and designed to advance the Shiba Inu ecosystem. According to <a href="https://newslinker.co/how-does-artificial-intelligence-work/" target="_blank" rel="noopener" data-wpel-link="exclude">data</a> provided by Shibariumscan, user activity on the L2 has visibly decreased over the past few days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377843" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-1-coin-turk-com.png" alt="" width="495" height="194"> 
Data from Monday revealed that the daily number of individual addresses conducting minimal transactions on Shibarium fell to 321, marking the lowest monthly level for the network. This decline occurred after the number of active addresses on the network rose to 1,898 on August 1. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377844" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-2-coin-turk-com.png" alt="" width="485" height="194"> 
Additionally, there was a decrease in new demand on Shibarium. On Tuesday, only six new addresses were created on the network, reflecting a 98% drop compared to the 361 new addresses using Shibarium on August 1. 
<h2 style="text-align: justify" id="shib-price-prediction-whales-start-selling">SHIB Price Prediction: Whales Start Selling</h2> 
Although the overall <a href="https://en.coin-turk.com/bitcoin-price-starts-the-week-strong-above-69000/" data-wpel-link="internal">cryptocurrency market</a> has stabilized, SHIB whales were seen selling their holdings. This situation is evident from the 67% drop in the net flow of meme coin whales over the past seven days. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-377845" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-3-coin-turk-com.png" alt="" width="482" height="298"> 
Generally, a decrease in the net flow of an asset’s whales can be interpreted as them selling their tokens. This may also prompt individual <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">investors</a> to sell their tokens, creating more price pressure on the coin. 
<img loading="lazy" decoding="async" loading="lazy" class="aligncenter size-full wp-image-377846" src="https://coin-turk.com/wp-content/uploads/2024/08/shib-4-coin-turk-com.png" alt="" width="490" height="219"> 
If SHIB whales continue to sell, the price could drop to $0.000010. Conversely, if the selling pressure decreases and buying activity increases, the meme coin’s value could rise to $0.000018, negating the current downtrend. 
As of the time of writing, SHIB is trading at $0.0000132, reflecting a 3.49% drop in the last 24 hours. The SHIB/TRY pair shows a price of 0.00044260 TL. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/shibarium-users-leave-the-platform/" data-wpel-link="internal">Shibarium Users Leave the Platform</a></h5>
The post <a href="https://en.coin-turk.com/shibarium-users-leave-the-platform/" data-wpel-link="internal">Shibarium Users Leave the Platform</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

Shibarium Users Leave the Platform

Table of Contents

COINTURK NEWS

Other articles published on Aug 7, 2024

Join this Best Meme Coin on Presale to Beat Market Bears that Toppled Brett and the Rest

Diamond hands: Mt. Gox creditors hodl Bitcoin despite 10-year wait

Bitstamp helps Stripe scale crypto purchases in the EU

SEC Moves to Amend Complaint Against Binance, Binance.US, and Zhao: Solana (SOL) May Be Impacted

Despite a 15% Rise, Bitcoin (BTC) Price is Poised for Another Downfall! Here’s Why You Need to be...

Why Is the Bitcoin Price Down Today? Traders Flock to Ethereum’s Dexs Aave and Rcof

Join our free newsletter for daily crypto updates!