The Layer-2 blockchain is undergoing significant renovations as the Shiba Inu development team works tirelessly, yet Shibarium has been seeing a sharp decline in transaction volume for about a month.
The SHIB burn rate has dropped in tandem with this; today, this indicator was in the red.
Shibarium faces enormous activity plunge
Data made available to the public by the Shibariumscan explorer indicates that there is still no transaction activity on the Layer-2 blockchain of Shibarium, the well-known meme cryptocurrency. The drop has been spectacular for about a month – nearly 100%.
Today’s total is only 16,800, down from a peak of 562,990 daily transactions found on Shibarium on April 17.
Even yet, however slowly, the total number of transactions keeps rising. As of right moment, this measure shows that 417,469,578 transactions have been done overall since the blockchain’s August inception.
A new version of the ShibaSwap DEX and its bridge to Shibarium from the Ethereum chain were released earlier this week by the mysterious head of Shiba Inu, Shytoshi Kusama. With this change, consumers will have access to a greater variety of goods and services on both blockchains. This helps to explain why there are currently few transactions on Shibarium.
Grok AI has a say about Shibarium and ShibaSwap
The SHIB team’s official marketing lead, Lucie, evaluated the Grok AI bot’s knowledge of the ShibaSwap DEX debut on Shibarium on Friday. Lucie received a comical explanation of the DEX from Elon Musk’s AI.
Comparing the DEX’s growth from Ethereum to Shibarium to “moving from a crowded city to a peaceful suburb with better infrastructure and lower fees,” Grok made a lighthearted comparison. “Faster transactions and lower costs for all you SHIB enthusiasts out there” is the AI’s prediction as a result.
https://x.com/LucieSHIB/status/1791425607135371454
Additionally, the programme unveiled what it calls “the most exciting feature” of ShibaSwap. It is Shibarium’s capacity to create new liquidity pools. The DEX has also included trending coins and discovery charts to Shibarium.
“The new and improved ShibaSwap on Shibarium offers faster transactions, lower fees, new liquidity pools, and enhanced token discovery,” Grok finally came to the conclusion.
