Shiba Inu L2 Activity Plummets Amid Diversification and Regulatory Uncertainty

Precedent & Market Context

The cryptocurrency market has been experiencing volatility in recent weeks, with Bitcoin and Ethereum recovering from a flash crash. However, the market is now awaiting more volatility and regulatory clarity, which may impact the Shiba Inu ecosystem.

Main Event

Shibarium's daily transactions dropped to 659 in the last 24 hours, the lowest since September 20, 2026, according to Shibariumscan data. The Shiba Inu layer 2 saw 2,280 transactions on October 15, 2026, which dropped to 659 on October 17, 2026.

Analysis & Market Impact

The drop in transactions suggests a decrease in ecosystem participation, but Shibarium continues to receive quiet upgrades behind the scenes. According to long-time SHIB community member Mazrael, CreateX is now live on Shibarium, making multi-chain deploys on Shibarium much easier. In a separate development, all 12 Safe v1.4.1 contracts are deployed at their canonical addresses via the Safe Singleton Factory.

Implications & Outlook

The increase in SHIB holders despite relatively quiet growth across the broader cryptocurrency market suggests that SHIB continues to attract new wallet holders. However, whether that growth translates into stronger market demand remains to be seen as the month progresses.

• Shiba Inu's layer 2 activity has dropped to a monthly low, with 659 transactions in the last 24 hours.
• The drop in transactions suggests a decrease in ecosystem participation.
• Shibarium continues to receive quiet upgrades behind the scenes.

A photo of a person sitting in front of a computer screen displaying the Shibariumscan page, with the Shibarium logo and a graph showing the decrease in transactions in the background, shot in