Limited Progress on the Adoption Front, as Shibarium Account Growth Stagnates

This article gives a closer look at three key metrics — accounts, transactions, and block trends. These three reveal Shibarium's disappointing on-chain growth.

Shibarium, an Layer-2 scaling solution built over Ethereum for Shiba Inu (SHIB), has seen minimal growth despite high expectations.

According to data from Shibariumscan, a dedicated tracker for the L2 network, key metrics like account creation, transactions, and blocks have shown minimal progress.

However, Shibarium’s network activity is closely tied to SHIB’s price movements. Despite token-burning efforts, SHIB price has struggled to break key resistance levels, dampening the overall ecosystem sentiment.

To counter these challenges, Shiba Inu developers have launched the Shibarium Token Repository, a strategic update designed to enhance token visibility and improve the user experience.

Moreover, as Shibarium pushes forward, the success of upcoming initiatives will determine its future trajectory in the competitive Ethereum L2 space.

Here's a closer look at three key metrics — accounts, transactions, and block trends — that reveal Shibarium’s disappointing on-chain growth.

Starting with accounts, the total number of accounts on Shibarium stood at 223K towards the mid of December 2024. This number saw an increase of around 6,000 accounts by the end of January 2025.

However, despite the growth, the total number of accounts was still relatively low, suggesting limited progress on the adoption front.

During this period, an average of 8K accounts were active, highlighting that Shibarium’s user base remained relatively stagnant.

Several analysts now speculate that Shibarium’s slower adoption may be attributed to users exploring other Ethereum Layer-2 (L2) solutions. Among L2s, there’s increasing competition in terms of transaction fees.

Additionally, some attribute the lackluster account growth to Shiba Inu’s overall performance. Even the SHIB price has struggled to break through a key resistance level, particularly after it fell below $0.000025 in mid-December. This reflects the ecosystem’s slow growth or nearly stagnation state.

Despite efforts to counteract price decline through token burning, SHIB’s price recovery has remained underwhelming. This could contribute to the slow growth of Shibarium itself.

Per the data, the transaction activity on Shibarium has hit a plateau, with figures stuck in the 4 million range, unable to surpass the 5 million mark. This indicates a lack of significant adoption from both new and existing users.

Between December 15, 2024, and January 7, 2025, the number of new transactions fluctuated between 4,511,553 and 4,771,450, showcasing stagnation in that period.

Furthermore, the data highlighted that the Shibarium’s cumulative block count currently stands at 8.847 million. This is not strong growth, however, it indicates steadty growth has been continuing since over the past year.

Since at most corners, only stagnation lies, but part of this is on the positive side. The chain surpassed the 7-million block milestone in September 2024, and experts predict it could soon break the 9-million barrier if adoption picks up.

However, analysts caution that the overall cautious sentiment in the crypto market could slow this progress.

Shibarium’s growth trajectory, like SHIB’s price, is closely linked. A drop in SHIB’s price value tends to affect the network’s development. Despite the ongoing market downturn, some experts are hopeful that a rebound is on the horizon.

Additionally, SHIB optimists are now eyeing a target of $0.000026 in short term, and beyond for the coin if the market turns favorable.

Ahead of Treat, SHIB Developers Launched Shibarium Token Repository

In an effort to enhance the Shiba Inu ecosystem, SHIB developers have launched a significant update. This update is known as the Shibarium Token Repository.

Lucie, considered to be SHIB’s Marketing Lead, made the official announcement on X. This profile revealed that token owners can now upload images and relevant details to boost their tokens’ visibility.

Furthermore, this update applies to token owners across the Ethereum Sepolia, Shibarium, and Puppynet networks. Each network now has its own folder for token images. This enhancement is making it easier to update and improve visibility. Now, experts have started to view this move as a key development atlage that will enhance the user experience within the Shiba Inu ecosystem.

Additionally, the centralization of token management through this repository creates a more organized system for exposure. This exposure will accelerate Shibarium’s growth.

This development complements the upcoming launch of TREAT that has been set for January 14th. The upcoming treat is part of its ecosystem’s 4-token process.

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