Shibarium Activity Surges 78% as Shiba Inu Price Remains Under Pressure

Shiba Inu's Shibarium Layer-2 network has seen a significant increase in activity, with daily transactions surging by 78% recently. This marks a notable recovery after Shibarium experienced one of its weakest periods in July.

The recent spike in transaction activity on Shibarium is a positive signal for the ecosystem, but it remains to be seen if this will have a direct impact on SHIB's price. Despite improving blockchain activity, the token has failed to reflect this growth and has remained under pressure alongside the broader cryptocurrency market.

SHIB's price dropped from an intraday high of $0.000004243 to a low near $0.000004102 before recovering slightly. The token is still down 1.28% over the previous 24 hours, highlighting the gap between improving blockchain activity and overall market sentiment.