Shibarium’s Transaction Volume Plummets, Threatens Milestone

Shibarium, the Layer-2 network powering the Shiba Inu ecosystem, is facing a significant slowdown in transaction volume since late August. As per Shibariumscan data, the total transactions have fallen significantly to 1.556 billion, down from over 4 million daily transactions at the beginning of the month. This decline puts the anticipated 2 billion transaction milestone in jeopardy. The network’s recent struggles are partly fueled by a lackluster SHIB coin price performance, which saw a slight dip despite market gains overall.