In recent times, the cryptocurrency market has seen a slowdown, affecting Shiba Inu (SHIB) along with it. Despite a slight increase in SHIB's value over the past week, the token's price movement has been lackluster. Meanwhile, Shibarium, the much-talked-about Layer 2 network, has been demonstrating impressive performance.

In terms of SHIB's price analysis, there has been a modest 2% increase in value in the last 24 hours. Currently trading at $0.00003047, SHIB's market value stands at over $17.9 billion. However, this slow movement has led to a decrease in SHIB's social metrics, as indicated by Santiment data showing a drop in social volume and weighted sentiment.

Conversely, Shibarium's network activity has been on the rise. Data from Shibariumsca.io shows that the Layer 2 network has processed over 400 million transactions, with over 413 million transactions recorded at present. The number of processed blocks is also notable, with just 40,000 blocks away from reaching the 4 million mark. Additionally, the daily transaction count exceeds 58,000, and the total number of wallets has reached 1.38 million.

Looking ahead, expectations for Shibarium remain positive despite SHIB's stagnant performance. Glassnode data indicates a slight increase in Shiba Inu's network-value-to-transaction (NVT) ratio, suggesting a potential overvaluation and a subsequent price drop. Furthermore, the supply of SHIB on exchanges has seen a slight uptick after a recent decrease, with top addresses holding onto their supply.

In conclusion, while SHIB's price may face downward pressure, there's potential for volatility in the coming days, indicated by the relative strength index (RSI) rising above the neutral level. Despite this, Shibarium continues to show promising network activity, highlighting a divergence in performance between the meme token and its associated Layer 2 network.