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Shiba Inu Layer-2 Network Faces Temporary Outage, SHIB Price Reacts

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Shibarium, a layer-2 blockchain designed for the shiba inu memecoin environment, had a temporary outage during the weekend. The problem was addressed by Kaal Dhairya via X, the developer behind the Shiba Inu project , saying it had been resolved.

Yet, the network suspension affected the token’s native currency SHIB slightly, thus there was a slight decline in the cryptocurrency’s price.

Shiba Inu Ecosystem Sees Fix

Shibarium, which was launched in August 2023, is an Ethereum scaling solution created to tackle the problems of slow speeds and elevated commissions that have impeded Ethereum from reaching its full potential.

Its core function is to increase the popularity of the Shiba Inu token and other projects currently in the ecosystem while utilizing the decentralized benefits of Ethereum.

In Dhairya’s tweet, the blackout was due to a networking issue among the validators who are the entities involved in transaction confirmation on the blockchain.

Although the network problem had been solved and was working good, there were some specifics that need to be refixed. First, Shibariumscan as well as RPCs still remain out of reach.

Dhairya also invited groups outside the blockchain ecosystem to establish contact via Telegram or Slack. Although the price of SHIB was down 2%, this decrease was very modest.

It’s worth comments that this isn’t the first time Shibarium experienced network failure. Immediately after the mainnet was started, technological problems arose as a result of overloaded transaction users.

Nevertheless, the problems were dealt with in a timely manner and the network was re-established within a week.

Potential Impact on User Transactions

We can draw an analogy with this scenario by saying that a high volume of user transactions may have led to a recent failure of Shibarium. According to the on-chain data, there was a substantial, new account increase on April 13th, for the L2 network.

SHIB Ecosystem Shows Steady Growth

Despite the challenges they have faced, the blockchain and the Shiba Inu ecosystem have demonstrated unique robustness.

In the middle of several existing concerns, the Shiba Inu team declared success in raising $12 million by presale of its upcoming token, called TREAT, today.

A substantial infusion of cash will be prioritized on the construction of a full-featured layer-3 blockchain architecture designed specifically for the energetic and fast-growing canine-themed memecoin space.