Shibarium transactions crash shows daily activity plunging from millions to near-zero, undermining Shiba Inu’s short-term price support. Immediate causes include a steep fall in user engagement and a security incident that, although contained, shook market confidence.
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Transaction volumes dropped from ~3.5–4M daily to near-zero within weeks
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Security breach was prevented but reduced user activity and liquidity
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SHIB price slipped; trading volume down ~12.6% to $198.91M as of press time
Shibarium transactions crash: daily volumes plunged from millions to near-zero, pressuring Shiba Inu price. Read the facts, data and recovery steps from COINOTAG.
What caused the Shibarium transactions crash?
Shibarium transactions crash was driven primarily by a sharp decline in user engagement and a weekend security incident that, while halted, reduced confidence. Daily transactions fell from multi-million averages to single-digit thousands in key days, removing on-chain activity that previously underpinned ecosystem momentum.
How severe is the transaction decline and what are the key figures?
Daily averages in August were roughly 3.5 million to 4 million transactions. By Aug. 28, daily volume was approximately 9,590. A brief peak on Sept. 5 recorded about 1.26 million transactions, but by Sept. 16 daily transactions had fallen to 11,600, showing a sustained collapse in activity.
| Date / Period | Daily Transactions |
|---|---|
| August (average) | 3,500,000 – 4,000,000 |
| Aug. 28 | 9,590 |
| Sept. 5 | 1,260,000 |
| Sept. 16 | 11,600 |
How did the security incident affect Shibarium activity?
The weekend security incident targeted BONE tokens but was reportedly prevented by developers. Developer Kaal Dhairya confirmed that an attempt to steal millions of BONE was stopped. Despite containment, the event eroded user trust and likely triggered reduced on-chain actions and withdrawals of liquidity.
Shiba Inu price struggles: can the burn mechanism help?
With Shibarium activity near-zero, SHIB’s short-term price support is weakened. The token traded around $0.00001298 at press time, down 0.31% over 24 hours, while trading volume declined about 12.6% to $198.91 million.
Increasing the deflationary burn mechanism is a potential lever to reduce circulating supply and support price. Burn campaigns and enhanced token sink utilities could partially offset reduced L2 usage, though burns alone cannot replace on-chain activity as a growth driver.
How can Shibarium rebuild activity and confidence?
- Communicate transparently about the incident and remediation steps.
- Improve on-chain monitoring and publish audit findings to restore trust.
- Incentivize developers and users with targeted grants, fee reductions, or reward programs.
- Increase utility through integrations and user-facing applications that encourage repeat transactions.
Frequently Asked Questions
How low did Shibarium transactions fall compared to last month?
Daily transactions fell from monthly averages of roughly 3.5–4 million to single-digit thousands on specific days, and were about 11,600 on Sept. 16, demonstrating a severe and sustained decrease in activity.
What immediate impact did the incident have on SHIB price?
SHIB declined after the incident, trading near $0.00001298 at press time, down about 0.31% over 24 hours, while trading volume dropped roughly 12.6% to $198.91 million, reflecting reduced market appetite.
Key Takeaways
- Transaction collapse: Shibarium’s daily transactions plunged from millions to near-zero, reducing ecosystem activity.
- Security and confidence: A prevented BONE-targeted attack still damaged user trust and liquidity.
- Recovery path: Transparent communication, audits, incentives and enhanced burns can help rebuild activity and price support.
Conclusion
Shibarium transactions crash has removed a key driver of Shiba Inu’s short-term momentum. Restoring activity will require transparent fixes, security improvements and targeted incentives alongside possible burn enhancements. COINOTAG will monitor updates and report changes as developers publish remediation steps and audit results.
