Shiba Inu (SHIB) Nears Major Milestone Despite Stagnant Price Movement

<ul>
  <li>The Shiba Inu (SHIB) ecosystem is set to record another milestone, with the layer-2 network Shibarium approaching 5 million blocks.</li>
  <li>Despite this development, Shiba Inu’s price has remained tepid for a while now, which is undoubtedly worrisome for members of the SHIB community.</li>
  <li>Data from the Shibariumscan shows that the total number of blocks on the Shibarium network is over 4.9 million, nearing the 5 million mark.</li>
</ul>
<p><strong>Shiba Inu's Shibarium network nears 5 million blocks, but the price remains stagnant. Discover the latest insights and future outlook for SHIB.</strong></p>
<h2><strong>Shibarium About To Hit 5 Million Blocks</strong></h2>
<p>Data from the Shibariumscan shows that the total number of blocks on the Shibarium network is over 4.9 million, nearing the 5 million mark. These blocks contain records of all the transactions processed on the network. Such a milestone is significant as it highlights how far the Shibarium has come.</p>
<h3><strong>Shiba Inu On-chain Metrics Paint A Bullish Picture</strong></h3>
<p>Some other on-chain metrics paint a bullish picture for Shiba Inu and suggest its recent decline is simply a healthy retracement. Data from the market intelligence platform IntoTheBlock shows that Shiba Inu has recently recorded considerable Net Network Growth, meaning more users are adopting the meme coin.</p>
<p>Meanwhile, Data from IntoTheBlock also shows that Shiba Inu whales are still betting heavily on the meme coin, with almost a 4% increase in Large transactions these past few days. This is a very positive development for Shiba Inu since such large transactions could trigger a price recovery for the meme coin.</p>
<h3><strong>Conclusion</strong></h3>
<p>In conclusion, while Shiba Inu's Shibarium network is on the verge of a significant milestone, the price of SHIB remains stagnant. However, bullish on-chain metrics and strong fundamentals, including potential developments like a Shiba Inu Spot ETF and support for Shiba Inu perpetual futures on Coinbase International Exchange, suggest a positive future outlook. Investors should keep a close eye on these developments as they could trigger a price recovery for SHIB.</p>