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Shibarium, the Shiba Inu (SHIB) layer-2 blockchain, has again lost its recovery momentum about a week after it registered a 742% surge. As October winds down, the popular "Uptober," widely anticipated to trigger a recovery for the Shiba Inu ecosystem, has recorded one of the worst performances.
Shibarium's daily transactions plunge to historic lows
Shibariumscan data shows that the daily transaction count is at a historical low, with figures plunging below 3,000. As of Oct. 29, Shibarium only recorded 2,980 daily transactions. This signals that users have withdrawn from engaging with the layer 2 despite assurances from the SHIB team.
In the last 35 days, Shibarium transactions have fluctuated within a narrow range below the 20,000 count. This represents a massive slip from the 2-3 million range it recorded in the month before its current underperformance.
In July, for instance, Shibarium logged 4.18 million as the daily transaction count. Those were times when the transaction count was experiencing a massive boost due to increased engagement from users.
The highest peak it hit in the month of October was 19,620 transactions, on Oct. 14, 2025. The development has left many disappointed, considering that Shibarium was doing well and hitting significant milestones in terms of daily transactions and block count.
Currently, total transactions remain at 1,568,663,119 from 272,722,133 addresses. The total blocks on Shibarium stand at 13,855,690 with an average block time of 5.0 seconds.
Uptober disappoints as SHIB price and engagement slide
In the broader cryptocurrency space, Shiba Inu has also slipped by a significant 19.26% in the last 30 days. In a month historically regarded as bullish for the meme coin, SHIB added a zero, further complicating things for investors.
As of press time, Shiba Inu is changing hands at $0.000009887, which represents a 1.01% decline in the last 24 hours. The trading volume has declined by 10.85% to $196.07 million within the same time frame.
SHIB investors do not appear excited to accumulate the asset as uncertainty persists both in the crypto space and the broader financial world.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team