Key Shiba Inu (SHIB) Metric Hits Monthly High: Breakout Ahead or Not Yet?

Despite the positive signal, SHIB's wider outlook still leans bearish. Shibarium – Shiba Inu’s layer-2 scaling solution – has finally shown signs of revival, perhaps sparking hopes among the SHIB Army that the price could respond to the momentum. Nonetheless, many other factors suggest that the self-proclaimed Dogecoin killer is not out of the woods yet and could experience an additional short-term decline. Mixed Signals, But Bears Prevail Shibarium officially saw the light of day in the summer of 2023 and was designed to advance the Shiba Inu ecosystem by lowering transaction costs, improving speed, and enhancing scalability. At first, the protocol processed millions of daily transactions, but an exploit in 2025 abruptly changed things for the worse. The figure dropped to mere hundreds, signaling waning user engagement and slow network participation. Data shows that there has finally been some improvement on that front, with daily transactions topping almost 4,500 on August 9, the highest level since July 10. Some popular voices from the crypto world have opined over the years that Shibarium’s progress is vital for the meme coin’s performance. One example is the early Bitcoin advo...