Shiba Inu Layer-2 network Shibarium has witnessed a 99.8% drop as daily transactions hit rare lows.

According to Shibariumscan data, daily transactions for Shibarium are at 9,590, a far cry from a figure of 4.8 million seen on Aug. 20, marking a 99.8% drop.

The drop corresponds with lackluster trading action in the crypto market seen in late August, with market players staying on the sidelines.

Despite the drop in daily transaction volume, Shibarium statistics stay steady. Shibarium marked its second anniversary, having launched in August 2023, with total transactions surpassing 1.5 billion and addresses surpassing 270 million; total blocks have surpassed 12 million.

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Total transaction count on Shibarium currently stands at 1,566,119,160. Total blocks now stand at 12,811,111, and total addresses are now at 271,936,819, according to Shibariumscan data at press time.

Shiba Inu news

This week, asset manager Valour announced an expansion of its Nordic product suite with the launch of eight new SEK-denominated ETPs, including Shiba Inu on Sweden’s Spotlight Stock Market.

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Recently, the Shiba Inu team has intensified warnings to the SHIB community as coordinated bad actors and networks of fake accounts continue to actively target vulnerable investors. SHIB holders are warned not to FOMO (fear of missing out) into random links. They should also never connect their wallets without verifying the source.

In a separate warning, the Shiba Inu team reiterated that there is no official LEASH token on Solana, nor is there any migration to Solana. They also stated that any version of token not found on the SHIB website is fake and not part of Shiba Inu ecosystem.

In this light, Shiba Inu community members are urged not to engage with such fake tokens, nor should they do so with unofficial accounts.

New Accounts On Shibarium Fall Below 100

The new account metric tracks the total number of brand new accounts that are created on the Shibarium network daily. This is different from the total daily users as it only tracks new accounts and not existing accounts. It also helps to show the adoption rate as more new accounts signing up shows adoption is rising and the number falling means the opposite.

Presently, the Shibarium network is falling behind as the total number of new accounts signing up have fallen below the 100 mark. This comes after a major spike at the beginning of May 2025 when a total of 5,111 new accounts were created on May 6th alone.

Since then, the number has crashed by over 99%, dropping first to just above 200 new daily accounts, before bottoming out below 100. Data from ShibariumScan shows that in the last four days, fewer than 100 new accounts have been recorded daily.

This also coincides with a sharp decline in the active accounts on the network, going from over 21,000 daily at the start of May to less than 15,000% by the middle of the month. New transaction figures have also fallen with 1.87 million recorded on Tuesday compared to the 3 million average at the start of the month.

Shiba Inu Follows Bearish Trend

The trend of low adoption recorded on the Shibarium blockchain has also been felt in other areas such as the total addresses holding the Shiba Inu token. According to IntoTheBlock, the total addresses holding Shiba Inu have seen a decline over the last couple of days. This metric went from above 1.4 million to 1.39 million addresses. A small decline, but nonetheless pointing to an exit from the cryptocurrency by investors.

At the same time, the Shiba Inu price has also struggled to stay afloat at this time. Caught in a power struggle between the bears and the bulls, Shiba Inu has seen its price constrained to a tight range of $0.000014 and $0.000017. If the sell-offs continue, then the meme coin could break below the support currently being established at $0.000014.