Shiba Inuโs (SHIB) Layer-2 blockchain Shibarium has just hit a major milestone in over 1 billion transactions recorded, as per latest ShibariumScan.io data. Still processing transactions at a 5 second rate for one block, SHIB Armyโs blockchain has picked up pace after a quiet March, when daily BONE transactions were usually below 100K.
Accelerating since last week, the daily transactions soared to millions, with 4.4M transactions on April 5 and 3.8M on April 6, 2025. Despite the considerable growth on Shibarium L2, Shiba Inu coin price dwindled by 8.5% over the same period, leaving crypto connoisseurs concerned that Shiba Inu could end up adding a zero on its price.
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Meanwhile, Shiba Inu’s alternative token Bone ShibaSwap (BONE), saw itself backtracking 17% over the past 7 days, despite still claiming 5% gains on monthly terms, currently trading just below 25 cents, according to CoinGecko.ย
Whatโs Stopping Shiba Inu Price Appreciation?
As the broader crypto market sentiment hits extreme fear levels of 23 on Black Monday 2025, Bitcoinโs (BTC) price hurdles are met with a rebound at $77,000 after a dramatic plunge to $0.000010420 as global tariff war escalated with the Chinese President Xi Jinping slamming the United States President Donald Trumpโs baseline tariffs on global trades as โbullyingโ.
On the other hand, the Shibarium news of 1 billion transactions didnโt reflect on the dog-styled crypto’s price yet, as the dog-embossed crypto couldnโt manage to reclaim $0.000012 on Black Monday. With crypto & stock markets crashing in double-digit percentages, several on-chain metrics shall be taken into account.
With all four key on-chain signals in the red, Shiba Inu price (SHIB) unable to reclaim $0.000012 after consolidation makes perfect sense. However, the 24-hour decline in large transactions and network growth has been slight, which symbolizes ongoing indecision among largest dog-embossed meme coin holders, popularly known as crypto whales.
As for now, Shiba Inu price metrics display conflicting signals. For instance, the Balance of Power metric (BOP) is showing a slight crypto bull advantage at 0.28, hinting at a strengthening consolidation mode. However, the Chaikin Money Flow (CMF), a big holder money flow tracker, states the opposite with a negative value of -0.07, testifying that whales are selling.
On The Flipside
- The meme coin’s price managed to break through the low-tier green Bollinger Band of $0.0000107, as portrayed in the 4-hour price chart above.
- With Shiba Inuโs trading volume on Spot increasing by 300%, Shiba Inu price is now approaching the middle Bollinger Band at $0.0000118.
Why This Matters
1 billion transfers on a blockchain separate from the meme coinโs parent chain (ETH) is uncanny, showcasing the meme coinโs potential to full independence, spurred by huge SHIB community involvement.
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