Shibarium Transaction Volume Plummets by 88%

Shibarium, the layer-2 blockchain associated with Shiba Inu, has experienced a significant decline in transaction volume over the past 24 hours. According to data, the number of transactions dropped from 10,940 to 1,230, representing an 88.3% decrease.

The sudden drop is notable, given that Shibarium had recently seen a surge in transactions, with a peak of 300% increase on March 26. However, this rise was not sustained, and the transaction volume returned to its previous baseline.

The recent transactions on Shibarium have been observed to have the label 'Value 0 BONE,' which are contract calls rather than direct wallet transfers. This phenomenon has also been noticed in previous instances where Shibarium's transaction volume increased.