The collapse on the Shiba Inu (SHIB) side continues. In particular, user activity on the Shibarium platform has decreased significantly. On Monday, along with the general market decline, demand on the Layer-2 network fell to its lowest level in a month. The value of the Bone ShibaSwap (BONE) token has fallen by 11% in the past 30 days, but this has not affected the return of users to the L2 platform.
Shibarium is a Layer-2 blockchain platform built on the Ethereum network and designed to support the Shiba Inu ecosystem. According to Shibariumscan data, user activity on the platform has dropped significantly in recent days. On Monday, the daily number of individual addresses with low transactions dropped to 321, marking the network’s lowest monthly level. On August 1, this number was recorded at 1,898. Additionally, data released on Tuesday revealed that the number of new requests on the Shibarium platform has also decreased. Only six new addresses were created on the network, representing a 98% decrease compared to the 361 new addresses seen on August 1.
While the general cryptocurrency market is experiencing a period of stagnation, SHIB whales are observed selling. The 67% decrease in whale net flow could mean that they are selling their tokens. This could encourage retail investors to sell as well, putting greater pressure on the SHIB price.
User activity on the Shibarium platform has decreased.
The value of the BONE token has fallen by 11% in the last 30 days.
SHIB whales’ net flows dropped by 67%.
SHIB price is currently trading at $0.0000132.
If whales continue to sell, the SHIB price can be expected to fall to $0.000010. However, if there is a decrease in selling pressure and an increase in buying transactions, the SHIB value can rise to $0.000018. Currently, SHIB is traded at $0.0000132, indicating a 3.49% decrease in the last 24 hours. The price for the SHIB/TRY parity is seen as 0.00044260 TL.
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