Shiba Inu price is struggling to catch up with the activity on its Layer 2 chain Shibarium. After a botched launch of the scaling solution Shibarium,
and BONE locked on the Shibarium bridge. The team worked on scaling the Layer 2 chain with the help of Unification and Polygon and relaunched Shibarium on August 28.bridge. Based on data from Shibariumscan.io, daily transactions have climbed to 99,060 as of September 3. Nearly a million wallets have interacted with Shibarium’s bridge, marking a key milestone in the Layer 2 chain’s journey. Despite these bullish statistics, TVL and SHIB price have failed to catch up.
As seen in the chart below, TVL is $1.04 million, having declined consistently since the beginning of September. TVL is a key metric since it represents the volume of assets that traders lock in the chain.and dump concerns surrounding meme coins like PEPE have dampened the sentiment among the SHIB community of holders.ecosystem are reluctant to engage with the SHIB bridge, resulting in the likely TVL decline.SHIB price is $0.00000770 at the time of writing, up 0.13% on the day.
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