Over the past week, the value of Shiba Inu (SHIB) has dropped by 8.09% and over the past 30 days, it has declined by 22.81%. This significant loss in value has impacted Shibarium transactions, with data showing a 99% crash in transactions on the Ethereum-based Layer-2 scaling solution. The daily transaction volume on Shibarium has fallen from 4.64 million to 52,410 in just a week. Analysts believe this decline is due to the lack of interest and engagement from the SHIB community, which has been influenced by the bearish performance of the coin. As of now, SHIB is being traded at $0.00001543, experiencing a 2.14% decrease in the last 24 hours. Experts suggest that for SHIB to regain traction, the development team needs to focus on growing the ecosystem and increasing investor confidence. They believe that if SHIB's value appreciates, there will likely be an increase in transactions on the protocol. Additionally, the number of SHIB whales conducting transfers has decreased by 93%, raising concerns about the token's future.



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