Sharp Declines in Shibarium Transactions Spark Worries
Shibarium, the layer-2 scaling solution of the Shiba Inu network, is witnessing significant turbulence in its transaction activity. After a remarkable 361% increase in daily transactions on July 10, numbers plummeted from 5,170 to just 1,280 by the next day, marking a 75% drop. The sudden reversal in transaction volume occurred after a short-lived spike. Previously, on July 9, Shibarium recorded 1,120 transactions, which surged to 5,170 the following day. However, the much-awaited momentum was unsustainable, as seen with the previously erratic activity in mid-June when transactions skyrocketed by 3,152% in one day, only to tumble again shortly thereafter.