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The recent rise in the price of Shiba Inu is accompanied by a decline in transactions

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Despite the great interest in 2021, Shiba Inu (SHIB) is facing a steady decline in the number of transactions in the network the fourth month in line.

Decline in the number of transactions in the Shiba Inu network

Specifically, in February 2022, only 257,007 transactions were recorded, which is 9.27% ​​less than in January of the same year with 283,268 transactions. This is data from bloxy.info for blockchain analysis.

Over the past four months, the overall decline in transaction volume was 67.96%, but the decline last month is less sharp than in previous months. Specifically, the number of transactions in December 2021 was 475 157, which means that the decline in January amounted to an impressive 40, З8%.

Decrease in the number of transactions in the Shiba Inu network

A record maximum in the number of SHIB transactions was recorded in October 2021 – 1 З89 60З, so since February the decline reached 81.51%.

Along with the number of transactions, the interest in the search words “Buу Shiba Inu” also decreases. Google Trends data shows that the Shiba Inu coin has dropped in search from the top 100 of З0. November 2021 to a minimum of З as of February 28. Minus 97%.

Despite the decline in transactions and popularity, SHIB has not performed so well in terms of price performance over the past week. 

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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