Shibarium's Transaction Count Pulls a Houdini: 88% Vanishing Act Leaves Community Mystified

Shibarium saw an unexpected drop in transactions, falling from 10,940 to 1,230 — a brutal 88.3% decline in the last 24 hours. The dip follows a brief moment of glory on March 26, when transactions surged as much as 300% after languishing below 2,000 since February. That pump, however, was short-lived — transactions quickly returned to baseline and slipped back below 2,000. Classic pump and dump energy, except nobody told us when the party started or ended.

One curious detail: recent transactions carried the label "Value 0 BONE," meaning they're contract calls rather than actual wallet transfers. The same pattern appeared when Shibarium saw its previous transaction bump, leaving observers scratching their heads. So basically, we've got a bunch of ghosts clicking buttons in the dark. Very spooky, very Web3.

The exact reason for the plunge remains a mystery. What's clearer is that the Shibarium blockchain and its explorer are currently in the middle of some heavy infrastructure work. A major server migration is underway, with full chain reindexing still incomplete. As of writing, 84% of blocks have been indexed on the Shibarium explorer, which is rebuilding from scratch — hence the partial data. Think of it as Shibarium going