The daily trading volume of Shiba Inu's layer 2 network Shibarium surged by 148%, increasing from 656 to 1360 transactions. The spike in on-chain activity coincides with the SHIB trading price at $0.00005819, and analysts are watching for a potential breakout in price, noting that the token has significantly retraced from its all-time high in 2025 and is in an oversold technical condition.

SHIB1.67%
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