Shiba Inu's Shibarium Eyes 97% Decrease in Key On-Chain Metric: What Happened?
Shibarium, a prominent blockchain platform from Shiba Inu, witnessed a staggering 97.7% drop in transaction activity within just 24 hours. According to data provided by Shibariumscan, the number of transactions plummeted from 242,300 on April 9 to 5,630 on April 10.
Remarkably, while Shibarium experienced this significant decline in transaction volume, other metrics within the Shiba Inu network remained relatively stable. For instance, the number of active accounts interacting within Shibarium has held steady at 72,000 over the past five days. Moreover, there has been a notable increase in the creation of new accounts, rising from 536 to 626
The sudden and substantial decrease in transaction activity has left many puzzled, prompting speculation regarding its cause. Some attribute it to Shibarium's status as a relatively young blockchain platform, characterized by rapid growth and occasional turbulence. This theory suggests that such fluctuations may be inherent to the platform's dynamic development, including the diverse range of projects launched on it.
This is not the first time the Shiba Inu network has encountered anomalies, as evidenced by previous instances of fluctuating transaction volumes. Despite these challenges, Shibarium continues to show resilience, with its total value locked experiencing a notable uptrend in recent times.
