Shibarium, the layer 2 network for Shiba Inu, saw its daily transactions plummet to 659 in the last 24 hours, marking the lowest point since September 20, 2026. This sharp decline follows a peak of 2,280 transactions on October 15, 2026, and a significant drop from 5,710 transactions on October 6, 2026. While transaction counts are a key metric for network usage, they do not fully capture the broader ecosystem activity.
Despite the drop in transactions, Shibarium continues to receive quiet upgrades. CreateX, a standard factory for deploying contracts at the same address across chains, is now live on Shibarium, making multi-chain deployments easier. Additionally, all 12 Safe v1.4.1 contracts have been deployed at their canonical addresses via the Safe Singleton Factory.
In other developments, x402 is fully operational on Shibarium, offering two payment modes: exact and up to, for metered APIs and AI agents. Users can pay in $SHIB, TREAT, or wrapped BONE. Meanwhile, a notice on Shibariumscan indicates ongoing indexing, with 59% of blocks indexed, suggesting some counts may be inaccurate.
Shiba Inu's holder base expanded by 2,495 in October, despite a relatively quiet broader cryptocurrency market. This growth in wallet holders may not necessarily translate into stronger market demand as the month progresses. At the time of writing, $SHIB was down 2.98% in the last 24 hours to $0.00000488 and down 10.13% over the past week.