Shibarium Nears Key Milestone as Shiba Inu Prepares for Big Move

Shibarium Nears Key Milestone as Shiba Inu Prepares for Big Move
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Shibarium, the Shiba Inu Layer-2 blockchain, is approaching a major milestone in terms of total blocks. The Layer-2 blockchain has almost a million blocks in total.

Shibariumscan reports that the total number of blocks processed by Shibarium has reached 933,156, just shy of one million.

Shibarium has continued to grow in many areas, including total transactions, wallets, and staking. Shibarium scan data shows that total transactions on Shibarium reached 3,291,263, while wallet addresses reached 1,251,882.

The total amount staked on the Shibarium blockchain is currently 27,239,313 BONE.

Shiba Inu prepares for a big move

Shiba Inu Team Member Lucy expressed his expectations about the market. In his opinion, SHIB could be preparing for a big move.

“My personal view of the market is that we must first witness significant fluctuations in the price of BTC. Once the fear of missing out (FOMO) sets in and new investors and money start coming back, we will gradually see altcoins gain momentum,” Lucie wrote. .

What Lucie may be hinting at is an “altcoin season,” a term commonly used in the cryptocurrency sector to denote a period in which altcoins outperform Bitcoin.

Historically, after an uptrend, the price of Bitcoin tends to stabilize. As a result, market participants looking for short-term returns can sell Bitcoin and switch to altcoins.

Bitcoin remains the focus of attention for cryptocurrency investors at the moment. According to CoinShares, digital asset investment products saw inflows last week for the first time in weeks, totaling $21 million in reaction to a combination of positive price momentum.

Last week, Bitcoin inflows totaled $20 million, representing the vast majority of inflows. Meanwhile, very little activity was seen in the altcoin space.

At the time of writing, SHIB is up marginally in the last 24 hours, up 0.49% to $0.00000746.

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