Ethereum

ZachXBT

Shiba Inu

<div class="sg-post-des">
 Shiba Inu and related-token prices plunged since Shibarium's launch, while rumors of a significant technical error in the new Shibarium network have been swirling. 
</div> 
<div class="cointelegraph"> 
 The launch of the Shibarium mainnet — a layer 2 scaling solution for the Ethereum network — appears to have gotten off to a rocky start, at least when it comes to the price of its related <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a>s.&nbsp; 
 Many Shiba Inu (SHIB) holders had held out hope for a sharp appreciation of SHIB, Shibarium’s governance <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> BONE and the LEASH <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> with the launch of the Shibarium network on Aug. 16. 
 However, those aspirations have been dashed rather quickly. 
 At the time of publication, the price of SHIB is down 8.1% in the last 24 hours while BONE has fallen more than 14% in the same timeframe. The ecosystems’ LEASH <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> — a low supply staking rewards coin — fared the worst, dropping 23.5% on the day. 
 <figure> 
 <img src="https://s3.cointelegraph.com/uploads/2023-08/8ee76e92-8c48-409a-b02e-b69184d0ce12.png"> 
 <figcaption style="text-align: center;"> Shiba Inu (SHIB) price following the launch of the Shibarium network. Source: CoinGecko 
 </figcaption> 
 </figure> 
 The price dip comes amid reports of a potential hiccup in the launch. 
 According to screenshots that reportedly capture an internal Telegram conversation between Shibarium developers, lead developer Shytoshi revealed that the team was unable to recover assets bridged to the Shibarium network. 
 <blockquote class="twitter-tweet"> 
 In case yall were wondering how Shibarium is going pic.twitter.com/S5vjTxoMDk— ʎppɐꓷ ɯooɹɥS (@shroom_daddy) August 16, 2023 
 </blockquote> 
 Blockchain sleuth ZachXBT said that he had not yet confirmed whether or not the assets were truly lost, but noted that the RPC — a node that runs key blockchain client software — was “dead” and described the block explorer as “awful.” 
 Cointelegraph confirmed, using the Shibarium Scan block explorer, that the last block was added 7 hours ago. A number of preceding blocks had been mined but were still awaiting import at the time of publication. 
 <figure> 
 <img src="https://s3.cointelegraph.com/uploads/2023-08/b47a79b5-1662-42b0-a7c6-7a4caec0af50.png"> 
 <figcaption style="text-align: center;"> The last block on the Shibarium was mined 7 hours ago. Source: ShibariumScan 
 </figcaption> 
 </figure> 
 Related: Binance approves Shiba Inu as collateral asset 
 Another screenshot allegedly showed one Shibarium user coming up against technical issue with the block scanner, saying that they were unable to query their bridged balance over the RPC. 
 <blockquote class="twitter-tweet"> 
 but wait there's more! pic.twitter.com/EkhLuGTT7S— ʎppɐꓷ ɯooɹɥS (@shroom_daddy) August 16, 2023 
 </blockquote> 
 The Shibarium RPC website is down at the time of writing. 
 Members of the community believe this could indicate a flawed bridge, with the total sum of locked funds amounting to nearly $2.46 million — comprised of $1.7 million worth of Ether (ETH) and an additional $762,000 worth of Shibarium’s governance <a rel="noopener noreferrer nofollow" title="token" href="https://thebittimes.com/tag/token.html">token</a> BONE. 
 Magazine: Experts want to give AI human ‘souls’ so they don’t kill us all 
 <template data-name="subscription_form" data-type="crypto_biz"></template> 
</div>

SHIB, BONE, LEASH tokens dip amid rumors of $2.5M Shibarium gaffe

TheBitTimes

Other articles published on Aug 17, 2023

TRON DAO Ventures Invests $2 Million in CRV and Curve to Launch on TRON and BTTC

Increased Shorting Activity May Soon Lead To Liquidations: Report

Ethereum’s EIP-4844 Drives SNX, OP, and $ROE, With Borroe Presale Attracting Thousands of DeFi Tr...

Ripple Executives File Opposition to SEC’s Request for Appeal

Shibarium Stops Block Production Again, SHIB And BONE To Fall

How The Ripple SEC Case Changed Crypto: Ethereum & Big Eyes Infinity Redefine DeFi & Virtual Assets

Join our free newsletter for daily crypto updates!