Daily transactions on Shibarium, Shiba Inu's layer-2 (L2) network, jumped 507 percent in a day but quickly slid back to earlier levels.

On Aug. 11 (local time), blockchain outlet U.Today reported that Shibariumscan data showed daily transactions rose to 4,480 on Aug. 9 from 738 on Aug. 8, but fell back to 831 on Aug. 10.

The figure was the highest in about a month, but the upswing did not last long. Shibarium has previously shown a pattern in which transaction activity briefly surges and then quickly fades, and it repeated a similar move this time. Transactions also spiked in July and then declined again. On Aug. 1, they rose to 2,570 before returning to baseline levels. After the Aug. 9 jump, activity moved back to similar levels again, raising questions about the durability of the short-term rebound.

While transaction indicators were volatile, development work is continuing. Marzreal (마즈레알), an adviser to Shiba Eternity, said the Shiba Inu development team added 18 pages of developer documentation covering an ERC-4337-based paymaster for gasless transactions, a cryptocurrency payments API, hosted on-chain data endpoints and the ShibaSwap SDK. He assessed these functions as components needed to build consumer applications on Shibarium.

This trend is not easy to see as a Shibarium-only issue. On-chain analytics firm Glassnode said the overall market remains in a "transitional recovery phase." Positive signals have emerged, including improved institutional flows, stronger taker demand and options positioning becoming less defensive than before. Still, the recovery remains weak as spot liquidity and on-chain activity are sluggish.

SHIB prices also reflected the mood. SHIB fell 0.10 percent over 24 hours and was down 9.69 percent on the week. Market participants took a cautious stance ahead of the release of key inflation indicators.

Trading increased in derivatives markets. Cryptocurrency futures trading volume rose 20 percent over 24 hours to $139 billion, and total open interest increased 3 percent over the same period to $115.4 billion. The figures were interpreted as reflecting active rolling of existing positions rather than a full-scale rise in new directional bets.

Ultimately, Shibarium does not appear to have confirmed a recovery signal from a short-term spike in transactions alone. Network activity has fallen back to baseline, and the broader market is still failing to provide conviction in terms of liquidity and on-chain indicators. The next focus will likely be whether actual growth in Shibarium usage can be linked to an expansion of development infrastructure.