Shiba Inu’s Layer 2 network Shibarium saw a 44% jump in daily transactions on May 19, processing 1,260 transactions compared to 842 the previous day. Despite the surge, SHIB price remained locked in a tight range, trading near $0.000005744 with a marginal 0.10% gain over 24 hours.
Network fees stayed extremely low—contract calls cost around 0.00001 BONE—indicating little congestion. However, broader crypto market caution persisted, fueled by Federal Reserve uncertainty ahead of upcoming FOMC meeting minutes and a 26.59% drop in futures trading volume to $156 billion. Traders continued to avoid volatile altcoins, limiting SHIB’s recovery even as Shibarium activity ticked higher.
While the one-day spike was notable, Shibarium remains far below the 7,400+ transactions recorded on April 19, with daily counts floating between 700 and 3,000 in recent weeks. Some participants also question the accuracy of explorer data following a reindexing process.
