The Shibarium of Shiba Inu wavers as new accounts drop to new lows
Following its launch by the Shiba Inu team in August 2023, the Shibarium network has experienced ups and downs in the market. Despite coming from a team with a large community, the Layer 2 Ethereum network has struggled to remain relevant in the fierce competition among Layer 2 Ethereum networks. After the initial boost driven by the anticipation of the launch, the Shibarium network is facing low participation as the number of new accounts stagnates.
The new accounts metric records the total number of new accounts created daily on the Shibarium network. This metric differs from the total daily users, as it only records new accounts, not existing ones. It also helps to show the adoption rate, as an increase in new accounts indicates that adoption is rising, while a decrease in the number means the opposite.
Currently, the Shibarium network is falling behind, as the total number of new accounts registered has dropped below 100. This comes after a significant spike in early May 2025, when 5111 new accounts were created on May 6 alone.
