Shiba Inu Experienced a 198% Surge in Network Activity, Here's How SHIB Price Responds
Shiba Inu (SHIB) has finally displayed some signs of recovery, especially following its recent increase in network activity. According to on-chain data, the quantity of daily active addresses for Shiba Inu has witnessed a substantial 198% boost in the past week. The most significant portion of this growth occurred just yesterday, indicating that this might be one of the initial indications of an impending price resurgence for SHIB.As per the most recent data, the value of SHIB is currently at $0.00000718. While the asset has been grappling with sustaining a strong position in the market, this recent uptick in network activity could be a game-changer.Shiba Inu's price has remained relatively stable over the last few weeks, but the recent surge in daily active addresses could be a precursor to a price upswing. Though it's premature to draw definite conclusions, the asset's price has demonstrated some resilience despite the prevailing bearish market conditions.One of the primary factors contributing to this surge might be Shiba Inu's growing prominence in the DeFi sector. As more users engage with Shiba Inu's ecosystem, the asset could potentially witness increased liquidity and trading volume, subsequently driving its price higher.
