
Shibarium transactions double amid market caution
Shibarium, the layer-2 blockchain linked to the Shiba Inu ecosystem, recorded a 100% increase in daily transactions between June 10 and June 13, with activity rising from 1,300 transactions to 2,600.
The latest increase follows a pattern seen repeatedly since late May, where transaction activity briefly accelerates before declining sharply in the days that follow.
Market participants are now watching whether the current recovery can break that trend after previous spikes reached as high as 7,220 daily transactions before quickly retreating.
Transaction activity most recently climbed to 3,990 on June 8 before falling to 1,300, highlighting continued volatility in network usage amid uncertain market conditions.
The reasons behind the recurring rise-and-fall pattern remain unclear, although the behaviour mirrors broader cryptocurrency markets where rallies have frequently been met with selling pressure and rapid reversals.
Crypto sentiment remains weak, with the Crypto Fear and Greed Index standing at 21, reflecting persistent caution among investors after months of underperformance across digital assets.
Despite the recent increase in network activity, analysts say a sustained recovery will likely require stronger demand, renewed participation from larger buyers and evidence that selling pressure has begun to ease across the wider crypto market.
At the time of reporting, Shiba Inu price was $0.055.