Shiba Inu (SHIB/USD) is Up 5% on Tuesday

Shibarium data shows a significant increase in daily transactions, jumping from 3.2 million to 4 million in a single day.

Shiba Inu (SHIB)/USD is up 5% in the past hour, continuing to rise despite hitting a new all-time high on Monday. On-chain activity is surging, with large transactions hitting new peaks.

Shibarium Shows Surging Activity

Shibarium data shows a huge increase in daily transactions, going from 3.2 million to 4 million in a single day.

Also, the 1 billion transaction milestone was achieved in just two years. In contrast, Bitcoin (BTC) took 15 years to reach this mark.

Shibarium's official X account highlighted that this milestone was achieved thanks to the community's support.

"We hit 1 Billion Transactions on Shibarium.

It's a testament to the incredible support of this community. No bots, no paid traffic, just the dedication of the ShibArmy is driving this remarkable achievement. Together, we're making history one transaction at a time. $SHIB," the post reads.

Shibarium Reaches 1 Billion Transactions In Two Years, A Feat That Took Bitcoin 15 Years.

We Are Still In The Early Stages Of This New Chapter In The Shiba Inu Story.

Shiba Strength

The latest data from IntoTheBlock shows a huge increase in large transaction volume—465.2% in a single day.

At the same time, daily transactions rose by 69.6%, and transactions greater than $100,000 moved up from 23 to 74.

Trader Notes

Crypto trader CW highlighted that SHIB is rebounding from a buy wall zone, forming additional sell walls along the way.

The trader suggests that if these sell walls break, SHIB could enter a true bull market.

"SHIB is bouncing back from the buy wall zone.

Also, this decline has created additional sell walls.

If these three sell walls are formed, the real bull market will begin."

If SHIB Breaks Through From This Point It Could Enter A True Bull Market

The term "chrysalis" symbolizes transformation, emerging from a cocoon stage to a butterfly. This hints at a major upcoming development, sparking anticipation among community members.

Crypto Twitter is buzzing with speculation that SHIB could be on the verge of a breakthrough, potentially signaling a bullish phase for the meme coin.

As the saga unfolds, the SHIB community eagerly awaits the next chapter in this eventful journey.

This analysis has been written by Harish S and used inputs from Ben Armstrong, a trader and the host of Coin Bureau.

The Point

Shiba Inu is showing strength as it continues to rise despite hitting a new all-time high on Monday.

On-chain activity is surging, with large transactions hitting new peaks.

Shibarium, the L2 scaling solution for smart contracts, has seen a huge increase in daily transactions, going from 3.2 million to 4 million in a single day.

Shibarium Reaches 1 Billion Transactions In Two Years, A Feat That Took Bitcoin 15 Years.

We Are Still In The Early Stages Of This New Chapter In The Shiba Inu Story.

This milestone was achieved thanks to the community's support.

"We hit 1 Billion Transactions on Shibarium. It's a testament to the incredible support of this community. No bots, no paid traffic, just the dedication of the ShibArmy is driving this remarkable achievement. Together, we're making history one transaction at a time. $SHIB."

Shibarium's official X account said.

The 1 billion transaction milestone was achieved in just two years, while Bitcoin (BTC) took 15 years to reach this mark.

At the same time, the latest data from IntoTheBlock shows a huge increase in large transaction volume—465.2% in a single day.

Also, daily transactions rose by 69.6%, and transactions greater than $100,000 moved up from 23 to 74.

At the same time, trader CW highlighted that SHIB is rebounding from a buy wall zone, forming additional sell walls along the way.

The trader suggests that if these sell walls break, SHIB could enter a true bull market.

If SHIB Breaks Through From This Point It Could Enter A True Bull Market

The trader suggests that if these sell walls break, SHIB could enter a true bull market.

Shiba Strength

Shiba Inu's lead developer, known as Shytoshi Kusama, recently updated his location on X to "Cracking The Chrysalis".

This sparked speculation within the SHIB community, as the term "chrysalis" usually symbolizes transformation of a cocoon stage before a butterfly emerges.

This might hint at a major upcoming development, signaled by Kusama updating his location to reflect this.