Shibarium, Shiba Inu’s Layer-2 blockchain, has seen a dramatic 99.8% collapse in daily transactions, according to Shibariumscan. Only 9,590 transactions were recorded recently, down from a peak of 4.8 million on August 20. The sudden drop reflects a market-wide cooling, with traders stepping back and avoiding aggressive moves.
Despite the slump, Shibarium remains structurally strong. The network recently celebrated its second anniversary, having processed more than 1.56 billion transactions and produced over 12.8 million blocks. Wallet adoption continues to expand, with addresses now exceeding 271 million, signaling long-term growth.
Meanwhile, SHIB’s broader ecosystem is gaining traction in traditional finance. Asset manager Valour has launched SEK-denominated exchange-traded products (ETPs) in Sweden, including one tied to SHIB, providing Nordic investors exposure to the popular token.
The Shiba Inu team has also stepped up security alerts. Scammers are targeting holders through fake accounts and counterfeit tokens. The team reminded the community to verify all sources, stressing there is no LEASH token or migration on Solana. Any token claiming otherwise is fraudulent.
With a solid foundation but shrinking short-term activity, Shibarium’s next moves will be closely watched by traders and long-term investors alike.
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