How Shibarium’s declining user count has affected SHIB

Shibarium, the layer 2 ecosystem of Shiba Inu, saw a surge but struggled to draw in new users. How will SHIB be affected?

This indicated that activity was driven by existing users on the Shibarium network, and the protocol had failed to attract new users. This could impact the overall ecosystem of Shiba Inu negatively.

This was showcased by the Social Volume around SHIB, which remained consistent over the last few days. However, Weighted Sentiment around the meme coin had declined. Social sentiment plays a huge role in determining the price of meme coins, and bearish sentiment on the social front could have adverse effects on the token.Despite the recent price correction, SHIB’s Network Growth grew. This implied that there was a spike in the SHIB by new addresses.

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