In what is certainly a massive development for the Shiba Inu ecosystem today, Shibarium has seen its activity increase by another 40% on Friday, driving the ongoing SHIB rally to delete another zero. Indeed, Shibariumscan showcases that new BONE transfers on the network grew from 33,775 to 47,714 today.
That development is following a weekly trend for the asset. Specifically, it had seen unprecedented growth occur on February 15th. Then, new BONE transfers on Shibarium increased from 415 to more than 33,000. Subsequently, the asset is firmly above the $0.0000097 level on Friday according to CoinMarketCap.
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Shibarium Activity Continues Surge, Drives SHIB Rally to $0.00001
For the first month of 2024, the digital asset market had experienced increased volatility. Indeed, the industry had seen a plethora of assets fail to get off to the rapid start that many had envisioned. However, that has turned around the last several days. Moreover, one of the most popular meme coins on the market has undoubtedly been a beneficiary.
At the mid-point of February, Shiba Inu saw its Shibarium network activity increase another 40%, thereafter driving the continued SHIB rally to delete yet another zero from its price. Specifically, the increase is about new BONE transactions that are taking place on the network.
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In early February, BONE had increased by 20% and had been subjected to an accumulation phase. However, since then, the market has been perplexed by the behavior of the token and the Shiba Inu network as a whole. There are no present answers surrounidgn Shiba INu’s performance or its network activity growth.
However, it may well tie into the overall market sentiment that currently abounds. Bitcoin (BTC) previously surpassed the $52,000 level this week. That represents a two-year high and is a feat that has driven other assets within the market to benefit. Only time will tell how the price responds in the coming days, and how long the rally will persist.