The crypto market seems to have entered the new year with excitement and signs of recovery. Popular meme coin in this context Shiba Inu Interest in continues to increase.
The constantly changing market BitcoinIt witnessed (BTC) rise to local highs of $45,880, signaling a promising start to 2024. Crypto enthusiasts are enjoying the increasing market volumes and the increase in the total value locked on blockchains.
But in the midst of all this, there is a problem in the Shiba Inu ecosystem, especially the layer-2 solution. ShibariumThere is an unexpected decline in . The latest data from Shibariumscan reveals an alarming decline in network activity, with the number of daily transactions dropping to 4.91 million, the lowest in a month.
This downward trend started on December 29. It witnessed a 23% decline in the following two days. With the new year, Shibarium’s key benchmark continued its decline, recording a further decline of 15.1% since the beginning of 2024. The numerical scale of these declines, involving millions of transactions, is causing concern among the Shiba Inu community.
Critical Period for Shiba Inu
Koinfinans.com As we have reported, while Shibarium has experienced sharp declines in trading turnover in the past, the current decline is unprecedented in both magnitude and speed. It is also worth noting that this year is ready to pave the way for significant changes in the coming year.
How this downturn will affect the project team’s plans, sentiment within the Shiba Inu community, and emerging questions regarding the fate of important tokens such as SHIB and BONE make January 2024 a critical period for the popular cryptocurrency project.