Yes, but as I mentioned in the past, the bad side is that the definition of low fees will be 10-40 Sat/vb instead of 1-20 Sat/vb, which is something that may not end soon, so unless there are solutions for ORDI and SATS, this will be the normal range of fees.
They are reducing their on-chain transactions and adapting to latest changes of policies from Free Transaction Accelerator from ViaBTC. Nothing can ride up forever without corrections so if Ordinals have higher highs, they will come back with new waves of ride in price and surely in on-chain transactions.
The bull market is ahead and we can not exclude possibility that Ordinals BRC20 tokens will return with even more on-chain activities than months in 2023.
If you check the price of ORDI and SATS, you will noticed that their marketcap reduced. Not only this tokens but other BRC20 tokens marketcap reduces, also bitcoin included. In short, the rate of onchain transaction volume also reduced and this makes the mempool to become less congested has been the reason. We should expect another mempool congestion in the next bull run.
After rising from $6 to $92, $ORDI is corrected to $50 and it can be price range where it will bounce and continue to rally, make a new all time high. The chart shows it is logically to see its holding price around $50 but if after this correction, it won't go up too much, I expect to see $ORDI to fall more to $25.
Anyway, $25 or $50 as lowest price of $ORDI correction, I really believe this token will hype the market again. I am not shilling $ORDI and dislike BRC20 tokens, Inscriptions but in the market, we must be realistic with what we see.