Shiba Inu's Shibarium Breaks New Ground, But There's a Twist

Shiba Inu’s layer-2 blockchain solution, Shibarium, has reached a new milestone, surpassing 11 million total blocks, indicating the network’s steady growth since inception. According to Shibariumscan, the total block count has reached 11,015,436, indicating continuous activity in the Shiba Inu ecosystem.

However, this milestone comes with a surprising twist: daily transactions on the Shibarium network have declined since the start of the week.

Since May 12, daily transactions have dropped from 4.21 million to just 2.76 million in the last 24 hours, indicating a decline in activity. The drop, however, coincides with a broader decline in crypto prices this week, with SHIB and BONE likewise affected.

However, most Shibarium measures were showing recent increases. As of the latest count, the Shibarium network had completed 1,183,012,595 transactions. Shibarium’s total addresses are now 211,956,545, indicating growing user interest and participation.

SHIB price action

The crypto market was slightly higher in the last 24 hours, with several assets showing signs of recovery after a drop earlier in the week.

Shiba Inu’s latest surge met resistance near the $0.000017 region, and the SHIB price subsequently slowed. A price surge to highs of $0.00001764 was halted short on May 12 due to a decline in the broader cryptocurrency market. SHIB went on to mark four out of five days in losses since May 11 before beginning to recover.

At press time, SHIB was up 2.28% in the last 24 hours to $0.000015, up from yesterday’s low of $0.00001446 and up only 0.01% weekly.

BONE, Shibarium’s gas token, saw similar price movements. At press time, BONE was up 4.08% in the last 24 hours to $0.336. BONE gradually fell from highs of $0.399 on May 11 to a low of $0.321 on May 15 before rebounding.