75% Drop in Key Metric Shocks Shiba Inu’s Shibarium

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As a seasoned analyst with years of experience in the cryptocurrency market, I have seen my fair share of volatility and anomalous activity. However, the recent developments at Shiba Inu’s blockchain, Shibarium, have left me particularly intrigued.

There have been unusual occurrences noted within the Shiba Inu blockchain, specifically with Shibarium. It’s hard to label this development as favorable. Based on information from Shibariumscan, there has been a significant decline in active accounts engaging on the network of the well-known meme cryptocurrency. The number dropped dramatically from 657 to just 168 within a 24-hour period – representing a steep 75% decrease.

The decrease in the number of active accounts on Shibarium led to a corresponding reduction in transaction volume. Consequently, there was a significant drop in new transactions during the reviewed period, from 5,396 to just 1,300 – representing a decline of approximately 75% and beyond.

It’s quite intriguing that despite a decrease in active Shibarium accounts, there has been a rise in new sign-ups. The daily new account count has gone up from 14 to 20, representing a substantial 42.8% growth. Although the numbers are small, this growth rate is noteworthy.

During this time frame, the typical BONE payment for gas commissions climbed from 0.008 to 0.0145, representing a significant leap of approximately 81.25%.

75% Drop in Key Metric Shocks Shiba Inu's Shibarium

Over the last 24 hours, the Shiba Inu network has experienced some significant price fluctuations that have been quite inconsistent with one another. Meanwhile, the previous day in the entire Shiba Inu community hasn’t been typical, as India’s leading crypto exchange, WazirX, was hacked for approximately $100 million worth of SHIB tokens.

Keeping a close watch, we ponder if Shibarium’s unusual conditions will persist in the near future. Consequently, we’ll remain vigilant regarding Shiba Inu.

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2024-07-19 14:45