Published in: May 6, 2024
- New transactions have fallen on the Shibarium.
- SHIB has decreased by about 3% in the last 48 hours.
He Shibario The hardfork happened recently. After the hardfork, what has been the trend in transactions on the Shiba Inu Layer 2 network? Also, has it sparked any significant activity for Shiba Inu?
The Shibarium Fork
2 of May, https://twitter.com/ShibariumNet/status/1786105483494863123 announced the successful completion of its hardfork, confirmed at block height 4504576.
The Shiba Inu L2 announcement highlighted that the recent hardfork would affect fees and transaction speeds. Specifically, it would result in faster transaction speeds and more predictable fees.
How key metrics have evolved in the Shiba Inu L2
A review of transaction metrics on Shibario revealed that the total transactions on the Shiba Inu L2 stood at approximately 416 million, with around 415.5 million completed transactions recorded.
Closer examination indicated a recent slowdown in new transactions, except for a notable increase that coincided with the hardfork announcement, reaching over 23,000 that day.
At the time of going to press, the number of new transactions amounted to 4,837.
There has been a stagnation in the number of new accounts, with 32 new accounts registered at the time of writing.
Additionally, the active account count has remained relatively low, with 977 active accounts reported.
Active Shiba Inu Tackles Flat Trends
Analysis of the seven-day active addresses for Shiba Inu did not reveal any significant trends. While there were active addresses within this time frame, the pattern seemed normal.
At the time of going to press, the number of active addresses amounted to 30,000. The last notable increase came around March, when the number rose to more than 100,000.
The trends seen in SHIB and Shibarium’s active addresses, along with other metrics, suggest that the recent hardfork had little impact on their activity levels.
SHIB’s negative trend continues
AMBCrypto analysis of the daily Shiba Inu price trend revealed a negative trend in the last 48 hours.
The chart showed that the last notable positive trend occurred on May 3, coinciding with the day of the Shibarium hardfork.
Realistic or not, here is SHIB Market Cap in BTC terms
On this date, SHIB saw an increase in value of over 7%, reaching a trading price of around $0.0000244.
However, at the time of writing, it was trading at around $0.000241, reflecting a decline of approximately 1.8%. The previous session also ended with a drop of more than 1%.
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