Daily transactions on Shibarium, the Shiba Inu ecosystem’s layer-2 network, rose 100 percent in four days.

Blockchain outlet U.Today reported on June 14 (local time) that Shibarium’s daily transaction count increased to 2,600 on June 13 from 1,300 on June 10.

The rebound is clear in short-term figures. ShibariumScan data showed transactions rose steadily from June 10 to June 13, and there were signs network activity, which had been weak for some time, was picking up again. The market is not treating it as a trend reversal. Since late May, Shibarium has repeatedly seen transactions rise and then quickly fall back.

In late May, Shibarium transactions climbed to as high as 7,220 at one point before dropping sharply. That pattern repeated four more times between late May and early June. On June 8, transactions rose to 3,990 and then fell back to 1,300. It has yet to be confirmed whether the current rebound is an extension of the same pattern or the start of a more sustained recovery.

Uncertainty in the market remains. The outlet pointed out that the exact reason behind Shibarium’s repeated rises and falls is not known. It also reported that the broader crypto market has seen sell orders pour in during rallies, followed by sharp declines. That means Shibarium’s transaction pattern appears similar to the market mood.

The broader market backdrop is also challenging. Since early June, major digital assets have slid to lows last seen months or years ago, and investor sentiment remains subdued. The crypto Fear and Greed Index stands at 21, in the fear zone, based on CoinMarketCap data. The outlet said bearish sentiment has strengthened as traders react to prolonged weakness in major cryptocurrencies.

On-chain, social and derivatives indicators are also drawing attention. Still, those signals alone do not allow a firm conclusion that a reversal is imminent. The outlet cited the possibility that the market may be nearing an important inflection point, but said an actual rebound would require signs that major buying has returned and selling pressure has eased.

Shiba Inu’s price trend is still mixed. SHIB was down 1.96 percent over the past 24 hours at $0.00000489 as of the time of writing. On a weekly basis, it was up about 4.43 percent. Market attention is therefore focused less on a simple transaction bounce and more on whether the increase in Shibarium activity lasts for more than a few days and whether it links to a recovery in Shiba Inu’s price and investor sentiment.