Source: Shibariumscan

Shibarium, a Layer-2 blockchain within the Shiba Inu ecosystem, has seen a substantial surge in network activity within the past 24 hours. Data from Shibariumscan reveals that active accounts on the Shiba Inu network rose from 1,034 to 1,706, marking a 65% increase. Interestingly, while the number of new accounts only grew by four, the spike in activity primarily stemmed from existing accounts. Moreover, daily transactions on the Shibarium network increased from 6,791 to 8,091.

Despite the uptick in new accounts, transaction volume on Shibarium has yet to reach its previous peak. With only 8,091 transactions recorded in the previous day, this figure pales in comparison to the millions of transactions per day seen earlier this year.

The query remains: can the resurgence of existing users propel transactional activity on Shibarium to its previous record levels? It is important to note that the current number of active accounts represents only a small fraction, accounting for 1.6% of the total 106,612 accounts registered with Shibarium.

As focus remains on the resurgence of activity on Shibarium, speculation mounts about its potential impact on Shiba Inu's ecosystem, specifically on market dynamics of the tokens. Participants in the market should closely monitor the performance of Shiba Inu (SHIB) and BONE to anticipate the ramifications of this spike in online activity.