Shibarium's daily transaction count hit nearly 4,500 on August 9, the busiest day for the network since July 10. The rebound is real, but it's happening against a grim backdrop for SHIB: the token is down about 20% from last month's local top, the burn rate has collapsed, and exchange reserves are piling up.
Shibarium's slow climb back
The network processed close to 4,500 transactions on Sunday, a modest milestone for a chain that once handled millions of daily transactions. That was before the 2025 exploit, which knocked Shibarium's activity down to the hundreds. The recovery has been gradual — August 9 marked the best day in a month, but it's still a fraction of what the network did at its peak.
For context, the gap between where Shibarium was and where it is now is enormous. The exploit didn't just dent the numbers; it emptied the user base. Getting back to 4,500 transactions a day is a start, not a comeback.
Price, burn rate, and reserves all point the same way
SHIB is trading around $0.000004654, roughly 20% below the local high it set last month. The burn rate fell 75% over the past week, meaning fewer tokens are being taken out of circulation. At the same time, exchange reserves have climbed to about 87.5 trillion tokens — the highest since the end of June.
That combination isn't great for the price. More SHIB sitting on exchanges usually signals selling pressure, and a slower burn rate removes less supply. The network activity is picking up, but the token's fundamentals are moving in the opposite direction.
What the chart says
Analyst Kamran Asghar sees SHIB compressing inside a descending wedge at key demand between $0.00000455 and $0.00000465. A breakout above $0.00000475, he argues, could confirm a bullish reversal toward $0.00000520 and beyond.
That's the optimistic read. The bearish one is simpler: SHIB has been sliding for weeks, and the wedge could just as easily break to the downside.
The adoption question
Jeremie Davinci, an early Bitcoin advocate, put it bluntly: Shibarium has utility but lacks applications and user adoption. If that changes, he said, Shiba Inu could "go to the moon."
The transaction data backs him up. 4,500 daily transactions is a real number, but it's nowhere near what a widely used network looks like. Until the applications show up, the network's recovery will stay modest — and SHIB's price will keep depending on sentiment rather than usage.
The next level to watch is $0.00000475. If SHIB breaks above it, the bullish case gets a lot easier to make. If not, the wedge keeps compressing, and the gap between network activity and token price stays wide.
