Shiba Inu's layer-2 network, Shibarium, recorded a dramatic 148% increase in daily transactions, jumping from 656 on March 9 to 1,360 by March 10. This surge in network activity coincides with a massive 658% spike in SHIB spot market flows within a 12-hour window, signaling a significant uptick in trader engagement and on-chain activity for the meme coin ecosystem.
According to data from Shibariumscan, the transaction growth is one of the steepest recorded this month and is viewed as a key yardstick for measuring adoption and potential retail capital inflow. Concurrently, CoinGlass data shows spot inflows for SHIB reached approximately $2.52 million against outflows of $2.25 million, resulting in a netflow increase of about $268,940. This activity contributed to a 2.65% price increase for SHIB, with the token trading near $0.000005437.
Derivatives market interest expanded in tandem, with open interest climbing 9.39% to nearly $63 million, indicating traders are building new leveraged positions. Technical analysis suggests SHIB is in a consolidation phase, with a weekly RSI of 35 pointing to oversold conditions and contracting Bollinger Bands hinting at reduced volatility before a potential stronger price move. The token remains down more than 93% from its all-time high of $0.00008845 set in October 2025.
Analysts note that SHIB's price trajectory relies on combined crypto market momentum, with broader economic signals like U.S. inflation data potentially influencing risk assets. Key resistance levels are watched near $0.00000587 and $0.00000653, with support around $0.00000526.
