- Shibarium transactions plunge 94% as network enters major reset phase
- Low transaction count hides ongoing system upgrades and backend synchronization
- SHIB price dips slightly as cautious sentiment grips broader crypto market
Shiba Inu’s layer-2 network has entered a reset phase after a sudden drop in visible activity, as recent data shows transactions falling sharply within a single day, reflecting temporary disruption linked to ongoing system upgrades and backend restructuring. Over the past 24 hours, Shibarium recorded only 557 transactions, marking a significant decline from the 10,940 transactions registered on March 26, representing a drop of about 94% that has quickly drawn attention across the broader crypto market.
However, this sharp decline does not indicate a collapse in network usage, as most of the recorded transactions now consist of automated system-level processes rather than actual user-driven transfers across wallets. Additionally, many recent transactions carry the label “Value 0 BONE,” which signals that these are internal operations designed to support the upgraded infrastructure rather than transactions involving token movement between participants.
Meanwhile, the Shibarium explorer remains in a rebuilding phase following the latest upgrade, and current data shows that only 86% of blocks have been indexed, meaning a portion of activity remains unrecorded for now.
Also Read: Bitcoin Cycle Is Dead, Says Saylor as Wall Street Takes Full Control Goes Global
Upgrade Transition Triggers Sharp Activity Drop
The ongoing reconstruction of the explorer has significantly influenced how network activity appears, as incomplete indexing continues to obscure the full scale of transactions occurring across the system. Consequently, the apparent crash in activity largely reflects a transitional adjustment period rather than a sustained decline, as developers continue working to enhance scalability and improve the network’s long-term operational stability.
Moreover, infrastructure upgrades of this scale often introduce temporary inconsistencies in on-chain metrics, especially when backend systems undergo synchronization and recalibration processes that affect how data is displayed. At the same time, broader market conditions continue to influence sentiment around Shiba Inu, as the crypto market remains in a consolidation phase with major assets trading within a relatively narrow range since early February.
As a result, traders have shifted attention toward altcoins, including SHIB, although overall momentum remains limited amid cautious participation and reduced enthusiasm across the market. At the time of writing, SHIB declined by 0.94% over the past 24 hours to trade at $0.00000583, while trading volume increased by 9.5% to $78.77 million, indicating modest engagement despite subdued conditions.
The sudden drop in Shibarium activity reflects a network reset driven by infrastructure upgrades, and as indexing progresses toward completion, transaction data is expected to stabilize and present a more accurate picture.
Also Read: SIREN (SIREN) Price Prediction 2026–2030: Can SIREN Hit $2 Soon?
The post Shibarium Activity Crashes 94% Overnight as SHIB Faces Major Reset Phase appeared first on 36Crypto.