Shibarium’s Dilemma: The Decline in User Interaction and BONE’s Worth
Shibarium, a much-awaited layer-2 solution for the SHIB community, had a rough beginning on August 28 and appears to be in for a hard journey. Despite its promise of a new efficiency era for SHIB holders, it has instead seen a concerning decrease in user interaction and network activity, similar to its initial operational phase. Data from the Shibarium explorer indicates a considerable fall in user transactions, raising doubts about its long-term viability. Despite the launch of Shiba Inu’s ‘Shib Name Service’ (SNS) aimed at enhancing user experience, the network’s user engagement continues to decline. Shibarium’s struggle is also reflected in BONE’s plummeting price, its native token. To recover, Shibarium needs to resolve technical problems, improve user experience, and regain its users’ trust. The crypto community is keenly observing if Shibarium can rebound and realize its potential.
