Anomalous activity on Shiba Inu’s blockchain, Shibarium, has raised concerns. According to data from Shibariumscan, the number of active accounts interacting on the network plummeted by 75% in just 24 hours, dropping from 657 to 168. This significant decline is difficult to interpret positively.

Decline In Active Accounts And Transactions

The sharp decrease in active accounts directly impacted transaction numbers. Consequently, the number of new transactions during this period also fell by 75%, from 5,396 to 1,300. The correlation between active accounts and transactions highlights the critical nature of this drop.

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Interestingly, amid this decline, Shibarium experienced a rise in new accounts. The number of new accounts increased from 14 to 20 per day, marking a 42.8% rise. Although the absolute numbers are small, this increase is notable in percentage terms. Moreover, the average amount of BONE paid as a gas commission surged from 0.008 to 0.0145, an increase of 81.25% over the same period. This rise in gas fees indicates a higher cost for transactions despite the drop in overall activity.

_{Source: Shibariumscan}

Recent Hack Adds To The Turmoil

Additionally, the past 24 hours have been anything but ordinary for the SHIB ecosystem. India’s largest crypto exchange, WazirX, suffered a $100 million hack involving Shiba Inu tokens. This event added to the already volatile environment surrounding Shibarium.

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Shiba Inu’s network has experienced significant fluctuations over the past day. The sharp drop in active accounts and transactions contrasts with the rise in new accounts and gas fees. These out-of-sync developments make it difficult to predict whether this abnormal activity will persist. As the situation evolves, we will continue to monitor Shiba Inu closely.

In sum, the Shiba Inu network’s recent performance reflects a mix of ups and downs, with external factors such as the WazirX hack further complicating the landscape.