thecryptobasic.com
Shiba Inu blockchain activity has taken a hit from the recent market downturn, with both transaction volume and new account creation plunging sharply.
The latest market downturn has led to a sharp decline in activity on Shiba Inu’s official blockchain, Shibarium. Data from Shibariumscan shows that the Layer-2 (L2) blockchain processed 624,135 transactions yesterday. While significant, it marked its lowest volume over the past two months.
Before yesterday, the last time Shibarium processed below 624,000 transactions was on June 4, 2025. At the time, Shibarium recorded only 63,780 transactions. However, that decline was short-lived. The daily transaction volume climbed to roughly 4 million until yesterday, when it plunged to 624,135.
SHIB Dips Over 3% Amid Broader Market Collapse
The development comes on the heels of a broader market downturn, which pushed SHIB’s price below the $0.000012 region. Even though the token has reclaimed $0.000012, it is still down 3.75% over the past 24 hours. Shiba Inu’s price has also dropped 13.24% over the past month.
The decline in Shibarium’s network activity, particularly its new accounts and transaction volume, highlights how users typically react to broader market conditions.
Shibarium’s Incredible Stats Since Launch
Despite the recent pullback, Shibarium has experienced an incredible performance since its August 2023 mainnet launch. So far, about 288,621 accounts have joined the network, while over 268.25 million wallets have interacted with the blockchain.
It has processed over 1.56 billion transactions since its inception, outperforming several established blockchains, including Cardano, in this metric. Furthermore, roughly 12.74 million blocks have been minted on Shibarium.