Shibarium, the Shiba Inu Layer-2 network, has faced a 99.8% collapse in daily transactions. According to Shibariumscan data, activity on Shibarium dropped with only 9,590 transactions recorded.
On August 20, the network peaked at 4.8 million transactions, and now it’s losing ground rapidly. This drop coincides with the withdrawal of many people from the market who are not making any bold moves.
The basis of Shibarium is still solid despite this setback. The network just commemorated the second anniversary of its August 2023 launch. As of writing, it has processed more than 1.56 billion transactions, while the number of wallet addresses has grown past 271 million.
As per the data, Shibarium has already produced over 12.8 million blocks. These numbers show that despite short-term dips in activity, long-term adoption of the network is still moving in the right direction.
Ecosystem Growth and Investor Alerts
Besides, Shiba Inu continues to gain traction in traditional finance. This week, asset manager Valour launched new SEK-denominated ETPs in Sweden, including one for SHIB, opening access to Nordic investors.
At the same time, the Shiba Inu team has stepped up warnings to the community. Scammers have been targeting investors through fake accounts and counterfeit tokens. The team reminded holders to avoid clicking random links and to verify all sources.
They also clarified that there is no official LEASH token on Solana and no migration to Solana at all. Any token outside the official Shiba Inu ecosystem remains fake
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