🐶 Shibarium TVL Approaches $3M Milestone as Transactions Soar
The #Shibarium TVL has ballooned significantly in recent weeks, and it is now approaching a critical $3M milestone, suggesting that decentralized finance (DeFi) activity in the network is blossoming. Despite the headwinds causing a weak recovery in the Shiba Inu price, the metric has surged by more than $670,000.
The growth of Shibarium’s TVL tends to coincide with a spiking $SHIB burn rate. According to data from shibburn, the weekly burn rate is up by more than 350%, with more than 329 million being removed from circulation.
Meanwhile, the Shiba Inu transaction volumes recently surged by nearly 300% in 24 hours from 1.77 trillion to 6.93 trillion tokens. This increase further supports the bullish Shiba Inu price prediction that the meme coin eyes a 4x rally in the near term.
Therefore, as Shibarium’s TVL continues to grow, causing a spike in the burn rate and transaction volumes, it is clear that the Shiba Inu price may be on an upward trajectory. The double-bottom pattern hints that an upward recovery may push the meme coin’s value to as high as $0.000045, triggering a 4x rally.
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