The Ethereum-based layer-2 scaling solution for the Shiba Inu ecosystem, Shibarium, has experienced a significant decrease in activity in recent days. Daily transactions on the protocol dropped from 4.77 million on February 14th to just 54,640 on February 17th. This decline has had a negative impact on the SHIB token's performance, causing its price to drop. The burn rate of SHIB has also decreased, further hindering the token's price increase. While SHIB has seen a small increase in price in the past 24 hours, investors remain cautious. Experts suggest that the reduction in Shibarium transactions could dampen enthusiasm among SHIB holders and potentially lead to selling pressure. However, some analysts believe this could be a reset point for Shiba Inu and could result in a reversal in price. Market participants will be closely monitoring Shibarium's transaction count to determine if there is a recovery in daily transactions, which could support a price rally for SHIB.



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