Shibarium, Shiba Inu’s layer 2 blockchain, saw a 74% increase in daily transactions, rising from 661 on July 21 to 1,151 on July 22. This growth remains modest but significant as the market awaits a bullish catalyst for SHIB. SHIB has dropped 1.54% in 24 hours to $0.000004166 and is down 23% since early July, with negative weekly closes throughout the month. Trading volumes for large-cap cryptocurrencies have fallen to their lowest level in two years according to Santiment, reflecting diminished trader confidence and weak spot demand.
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