The Shiba Inu ecosystem is experiencing contrasting on-chain trends. Its Layer-2 scaling solution, Shibarium, reported a dramatic 758% drop in daily transactions, according to its block explorer, Shibariumscan. The transaction count fell from 7,420 on April 18 to just 864 on April 21.
However, this plunge is attributed to technical maintenance rather than a collapse in user activity. The Shibarium team recently moved its servers and performed a full re-indexing of the blockchain to improve network capacity, data processing speed, and overall stability. During this process, the block explorer was rebuilt from the ground up, with synchronization progressing from 45% to 100%. The explorer displayed significantly lower figures than the actual on-chain reality while indexing was underway. With the process now complete, the explorer is expected to reset and reflect Shibarium's true activity levels, including accurate transaction data, NFT, and token balances.
Concurrently, the Shiba Inu token (SHIB) itself is witnessing a significant surge in adoption. Data shared by the Shiba Inu team from Etherscan reveals an 87.7% increase in the number of SHIB holders over the past seven days. The net increase was 5,653 holders, bringing the total from 1,562,990 on April 15 to 1,568,643 by April 21.
The growth was steady but modest for the first six days, adding between 62 and 192 new holders daily. However, it sharply accelerated on April 21 with a massive single-day influx of 4,958 new holders, suggesting a potential spike in retail interest or larger investor activity. Despite this growing holder base, exchange reserves remain high, with approximately 81 trillion SHIB tokens available on supported exchanges like Binance, indicating active trading.
