🦊 Shiba Inu: Shibarium transactions drop 1,889% during reset

Shibarium, Shiba Inu's layer-2 blockchain, recently underwent a major infrastructure update and a comprehensive reindexing of the backend system.
The Shibarium explorer is being rebuilt from scratch and has now indexed 86% of the blocks. In the past 24 hours, daily transactions on Shibarium have been only 557. As activity normalizes after the upgrade, this number has decreased significantly, a sharp drop from 10,940 transactions on March 26.
Most of these transactions are system-level, representing automated contract calls supporting the new infrastructure. As seen on Shibariumscan, recent transactions are marked as "Value 0 BONE," indicating they are not direct wallet transfers.
The Shibarium network is still operational; however, explorer data is still syncing to reflect the full history of the system post-upgrade. Since only 86% of the blocks are indexed, the current data remains partial. This may explain the noticeably lower transaction count we are seeing.
This phase may suggest ongoing expansion efforts. The infrastructure is being strengthened to support the expected growth.
🔸 SHIB Price Trend
The digital asset market continues to consolidate, with cryptocurrency prices remaining within the trading range seen since early February. In a consolidating market, traders often speculate on low-liquidity altcoins when Bitcoin and major coins trade steadily. In this context, focus seems to be on altcoins, including Shiba Inu.
At the time of writing, SHIB has decreased by 0.94% over the past 24 hours to $0.00000583, with trading remaining subdued. The extended holiday weekend has led to thin trading volume. In this scenario, according to CoinMarketCap data, Shiba Inu's trading volume in the past 24 hours has only increased by 9.5%, reaching $78.77 million.
After a major sell-off in October, bearish sentiment still persists in the market, and the community shows a clear lack of optimism.