Shiba Inu’s Shibarium Sees Transaction Volume Decline to Historic Lows

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Shiba Inu’s Layer 2 network, Shibarium, witnessed a significant drop in its daily transaction count, plummeting to just 659 over the past 24 hours. According to data from Shibariumscan, this represents the lowest daily transaction volume recorded since September 20, 2026. On October 15, 2026, the network processed 2,280 transactions, a number that had drastically decreased by October 17, highlighting a downward trend in user activity.

Network Activity Faces Noticeable Slowdown

This reduction in transaction numbers indicates a perceptible decline in overall network activity. Previously, Shibarium experienced a steady increase in September, peaking at 5,710 transactions on October 6. However, the subsequent sharp decrease has underscored a clear slowdown in usage. Nonetheless, singular transaction figures cannot comprehensively capture the extent of participation within the ecosystem.

Due to only 59% of blocks being indexed, Shibariumscan cautions users that some figures may not accurately reflect the up-to-date situation.

The warning on Shibariumscan advises a cautious approach to data interpretation. The ongoing blockchain indexing process may result in inconsistencies, potentially causing transient discrepancies in short-term transaction data.

Technological Enhancements Progressing Behind the Scenes

Despite the drop in transactions, technical developments within the network continue. Mazrael, a prominent member of the SHIB community, announced the launch of CreateX on Shibarium. This tool enables developers to deploy contracts on multiple chains using a single address, facilitating cross-chain deployments.

Glossary: CreateX is a deployment infrastructure that simplifies the establishment of smart contracts on different blockchains using the same address, potentially enhancing technical compatibility for teams developing multi-chain applications.

In addition, all 12 contracts of Safe version 1.4.1 have been deployed to their standard addresses via the Safe Singleton Factory. Known for its multi-signature wallet infrastructure for joint digital asset management, this deployment could pave the way for expanding developer tools and enterprise use cases on the network.

Expanding Payment Systems and User Base

Reports indicate that the x402 payment infrastructure has been fully implemented on Shibarium. This system offers two modes: ‘exact,’ for fixed amount transactions, and ‘up to,’ for transactions with an upper limit. Designed for measured API services and AI agents, it supports payments in SHIB, TREAT, or wrapped BONE.

Mazrael highlighted that the launch of CreateX has significantly simplified multi-chain contract deployments on Shibarium.

Meanwhile, the number of SHIB wallet holders has continued to grow in October. Data from the Etherscan SHIB X account shows an increase of 2,495 new holders over the month. This rise occurs amidst relatively limited growth in the broader cryptocurrency market, indicating sustained interest in SHIB from new entrants.

On the pricing front, SHIB has declined by 2.98% in the last 24 hours, dropping to $0.00000488. The token‘s weekly loss has reached 10.13%. The extent to which the increasing number of wallets will impact market demand remains to be seen in the coming days.