- There has been a decline in active accounts on Shibarium and Shiba Inu, and the recent hardfork has done nothing to change the trend.
- New transactions have dropped on the Shibarium.
- SHIB has declined by close to 3% in the last 48 hours.
Despite the recent hardfork, Shibarium and Shiba Inu have seen a decline in active accounts and transactions. SHIB also experienced a 3% drop in the last 48 hours.
Shibarium Hardfork and Its Impact
The Shibarium hardfork occurred recently, with the aim of impacting transaction fees and speed. However, despite the successful completion of the hardfork, there has been a noticeable decline in new transactions and active accounts on the Shiba Inu Layer 2 network.
Key Metrics on the Shiba Inu L2
A review of the transaction metrics on Shibarium revealed a slowdown in new transactions, except for a notable increase coinciding with the announcement of the hardfork. The number of new accounts has also flattened, with a relatively low count of active accounts reported.
Shiba Inu Active Addresses Trends Flat
Analysis of the seven-day active addresses for Shiba Inu did not reveal any significant trend. The trends observed in both SHIB and Shibarium active addresses, along with other metrics, suggest that the recent hardfork had little impact on their activity levels.
SHIB’s Negative Trend Continues
AMBCrypto’s analysis of the daily price trend of Shiba Inu revealed a negative trend over the last 48 hours. The last notable positive trend occurred on the 3rd of May, coinciding with the day of the Shibarium hardfork. However, as of this writing, it was trading at around $0.000241, reflecting a decline of approximately 1.8%.
Conclusion
Despite the recent hardfork, Shibarium and Shiba Inu have seen a decline in active accounts and transactions. The hardfork seems to have had little impact on the activity levels of both SHIB and Shibarium. With SHIB also experiencing a negative trend, it remains to be seen how these developments will affect the future of these cryptocurrencies.
