Shiba Inu’s Shibarium is experiencing a dramatic 75% drop in a key metric, reflecting a sudden decline in activity. Data from Shibariumscan shows that active accounts on the network fell sharply from 657 to 168 within just 24 hours.
This significant drop is concerning, especially in light of recent events like the WazirX hack and other on-chain issues affecting Shiba Inu.
Shibarium Sees 75% Drop in Transactions, Yet New Accounts Rise
The drop in active accounts on Shibarium has led to a substantial decrease in transaction numbers, with new transactions falling from 5,396 to 1,300—a 75% decline. Despite this significant drop in activity, there has been a small but noteworthy increase in new account registrations.
The number of new accounts has risen from 14 to 20 per day, marking a 42.8% increase. While the numbers remain modest, this growth stands out amid the overall decline in activity.
Shibarium Experiences Mixed Signals Amid Market Turmoil
In addition to the 75% drop in active accounts and transactions, Shibarium has seen a notable increase in the average BONE gas commission, which rose from 0.008 to 0.0145—a significant 81.25% increase. This contrast highlights the recent volatility within the Shiba Inu network.
Source: Shibariumscan
The past 24 hours have been particularly tumultuous for the SHIB ecosystem, especially with the recent $100 million hack involving Shiba Inu tokens on India’s largest crypto exchange, WazirX. Given these dramatic shifts, it remains to be seen whether the abnormal activity on Shibarium will persist in the coming days. We will continue to monitor the situation closely.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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