The Shiba Inu layer-2 network Shibarium enjoyed significant success at the end of 2023, crossing several milestones in the process. However, the network looks to be experiencing a cooling-off period following a significant drop in the number of transactions. Shiba Inu (SHIB) also looks to be affected by this development following a notable decline in its price. Daily Transactions On Shibarium Drop By Almost 50% Data from the Shibarium explorer shows that daily transactions on the network have significantly dropped since the new year began. Only just over 4 million transactions were processed on both January 2 and 3. This decline is notable because Shibarium was averaging over 7 million transactions for most of December last year. Related Reading: Crypto Pundit Says Cardano Rivals XRP Community, But Why Is ADA Price Struggling? December 29 was the last time that Shibarium saw over 7 million daily transactions. Since then, it has been on a downward slope, dropping to 6 million and 5 million on December 30 and 31, respectively. It looked like things were going to pick back up as daily transactions on the network rose back to ove ..
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