Since its launch by the Shiba Inu team in August 2023, the Shibarium network has navigated the volatile waters of the cryptocurrency market. Despite the backing of a robust community, the Ethereum Layer 2 network is struggling to maintain its relevance amidst stiff competition in the expanding landscape of Ethereum Layer 2 solutions. Following an initial surge fueled by excitement around the launch, the Shibarium network now finds itself confronting significant challenges, characterized by declining participation rates and stagnating new account creation.
New Accounts on Shibarium Fall Below 100
The metric for new accounts created on the Shibarium network serves as a critical barometer for measuring adoption. This metric captures only brand new accounts, distinct from total daily users, and offers insights into user engagement and network growth. Unfortunately, the latest data reveals a concerning trend: new account creation has plummeted below the 100 mark. This follows a remarkable spike observed at the beginning of May 2025, when over 5,100 new accounts were logged on a single day.
Since that peak, new account figures have crashed dramatically, experiencing a decline of over 99%. From an earlier average just above 200 new daily account creations, the numbers have now dipped below 100, according to data from ShibariumScan. In the last four days alone, fewer than 100 new accounts have been recorded daily, marking a critical moment for the network’s viability.
This decrease in new registrations is paralleled by an alarming upsurge in the rate of active accounts on the Shibarium network. Since early May, active accounts have plummeted from over 21,000 to less than 15,000 by the month’s middle. Moreover, transaction volume has also shrunk, with only 1.87 million transactions recorded on a recent Tuesday compared to an average of 3 million at the beginning of the month.
Shiba Inu Follows Bearish Trend
The patterns of low adoption witnessed on the Shibarium blockchain extend to other facets of the ecosystem, notably the total addresses holding the Shiba Inu token. Recent data indicates that the number of Shiba Inu holders has seen a small but significant decline, dropping from over 1.4 million to 1.39 million addresses. While this may seem trivial, it reflects a concerning trend as investors start to exit the cryptocurrency market.
Additionally, Shiba Inu’s price has faced substantial pressure during this period. Caught in a tug-of-war between bullish and bearish forces, the price has been confined to a narrow range, oscillating between $0.000014 and $0.000017. If downward selling trends persist, the meme-inspired cryptocurrency may breach its current support level, a scenario that could prompt further declines.
In conclusion, the Shibarium network currently faces significant obstacles in fostering user adoption and maintaining market presence. As daily account creations stagnate and overall user engagement continues to decline, the community and developers must take decisive steps to reignite interest and encourage new participation to secure the network’s future.
