Shiba Inu (SHIB) traded relatively flat on Saturday as the broader crypto market continued to face volatility following recent liquidations across major digital assets.
Notably, the second-largest meme token by market capitalization gained nearly 3% over the past week, showing some resilience despite broader market uncertainty.
Meanwhile, Shiba Inu’s Shibarium Layer-2 network has recorded a sharp increase in activity, providing a positive signal for the ecosystem.
According to data from Shibariumscan, daily transactions surged to 1,180 recently, after falling to the network’s lowest July level of 661 transactions on July 21.
The increase represents a 78% jump in transaction activity within a few days, marking a notable recovery after Shibarium experienced one of its weakest periods in July.
 
While current activity remains significantly below the millions of daily transactions recorded during the network’s strongest periods, the rebound suggests that user engagement may be improving.
However, despite the improvement on Shibarium, SHIB’s price has failed to reflect the positive network development. The token recently faced selling pressure alongside a broader cryptocurrency market downturn.
Notably, the token dropped from an intraday high of around $0.000004243 to a low near $0.000004102 before recovering slightly. The token later recovered modestly to trade around $0.000004189, though it remained down 1.28% over the previous 24 hours.
The weekly performance remains challenging, with SHIB still lower by around 2% over the last seven days, highlighting the gap between improving blockchain activity and overall market sentiment. Investors appear to be waiting for stronger signals before returning aggressively to the asset.
Meanwhile, the wider crypto market has remained under pressure as traders navigate macroeconomic uncertainty, regulatory developments, and geopolitical concerns. Discussions around upcoming crypto regulations, including the potential impact of the CLARITY Act in the U.S have kept investors focused on how policy changes could influence digital asset markets.
Within the Shiba Inu ecosystem, additional challenges have also affected investor confidence. Community members have raised concerns about slow progress on some initiatives, reduced burn activity, and uncertainty surrounding certain ecosystem developments.
Despite the ongoing price weakness, some investors appear to be maintaining confidence in Shiba Inu’s long-term outlook. Recent data shows that over 113 billion SHIB tokens have moved away from centralized exchanges, reducing exchange reserves to approximately 86.13 trillion tokens.
At the time of writing, SHIB was trading at $0.000004251, reflecting an 8.64% loss over the past 24 hours.
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