Shibarium Major Metric Keeps Moving in Deep Decline

Data shared by the shibariumscan.org explorer shows that more than a week already, one of the key Shibarium metrics have been showing a low performance.

As if to accompany this news, the Shiba Inu burn rate has also been down for several consecutive days.

Daily transfer count remains low

The aforementioned data source shows that over the past eight days, the daily transaction count made on the Shibarium blockchain has been moving sideways within more-or-less similar range below the 100,000 level.

On March 24th, Sunday, this metric showed a 729% surging, jumping from 8,060 to the 66,880 level. This is a significant increase within merely 24 hours. However, overall, compared to March 16th with over one million daily transfers this is quite a low figure.

This metric also impacts the overall transaction count, which continues to hold above the 412 million level. Over the past couple of weeks, it has progressed merely to 412.7 million. In one of her recent tweets, Lucie, the Shiba Inu team’s marketing lead warned that due to multiple tests and updates that are being implemented on Shibarium now, there may be low activity on this Layer-2 solution and various holdups observed.

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SHIB burn rate stays in red

Shibburn tracking service has shared that within the last 24 hours, the overall burn rate of Shiba Inu meme coins has been severely negative, showing almost minus 30%. Still, quite a large amount of meme coins was moved out of circulation this time – 21,401,675 SHIB. This burn was achieved with the help of nine burn transactions, the largest of which carried 18,358,729 SHIB. On March 21 a significant increase in burns was spotted as this metric soared by over 260%.

Over the past three days, the second largest meme cryptocurrency SHIB has been trading sideways, moving in a range between the low line of $0.00002758 and the high line of $0.00002842. Overall, the decline since Saturday constitutes almost 3%. At the time of this writing, the popular meme coin is changing hands at $0.00002759 on the Binance exchange.