Shibarium’s key indicators suggest that the Shiba Inu ecosystem may be preparing for an upturn. Notably, Shibarium’s transaction data has seen a triple-digit percentage raise in transactions and fees paid on BONE over the past week. This suggests that Shiba Inu may attract more attention from traders, which may result in SHIB rebound at a key support level within a week.

Shibarium sees a huge raise in activity over the weekend

According to latest dataTransactions on the Shibarium network exploded over the weekend, reaching a whopping 441% on Saturday. More than 13,190 transactions were recorded on Shibarium on Saturday, up from just under 3,500 earlier in the week. The huge raise in activity led to higher fees on a network that was under increased load.

As a result, average fees paid at BONE on Shibarium transactions increased by 176%. In addition, data from Shibariumscan indicates that 154 recent accounts were created on Sunday, an raise of 1,600% compared to the 9 recent accounts created on Monday, June 10.

Interestingly, these numbers are petite compared to the data recorded on Shibarium earlier this year. However, their raise came during a particularly bearish period for the Shiba Inu community. This is a positive sign for the SHIB price as the raise in transactions increases gas fees, which in turn increases the number of SHIB tokens to be burned.

The current state of the Shiba Inu

At the time of writing, SHIB is trading at $0.0000 for 2013 and is currently down 2.21% in the last 24 hours. It’s worth noting that SHIB has has decreased in the last seven days amid a broader decline in market prices led by Bitcoin. As a result, SHIB has lost 13.11% of its market capitalization over the last seven days as investors continue to exit their long positions.

SHIB is currently trading near the $0.000020 psychological price zone and could even fall further despite the raise in Shibarium trading over the weekend. According to data from IntoTheBlock, only about 3.97 trillion SHIB tokens purchased at 5,270 addresses provide resistance at this price level. If SHIB fails to defend this support and breaks below, the next key level will be $0.000190, where 6.21 trillion SHIB tokens are currently held across 4,310 addresses.

Lucie, Shiba Inu marketing leader, recently suggested a drop for all who made it to the Shibarium in the first year, sparking interest from Shiba enthusiasts. Nevertheless, Lucie provided clarification and noted that this is only an imaginary scenario and does not guarantee anything.

“THIS IS A HYPOTHETICAL QUESTION THAT PROMISES NOTHING. I’M JUST WONDERING.” Lucie continued X social media platform.