Kusama

Identity

Million

Read

Shiba Inu

<div class="coingape"> 
 <p><strong>Read More:</strong> Shiba Inu’s Layer-2 Blockchain <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> Is Live</p>  
 <div class="quads-location quads-ad90952 " id="quads-ad90952" style="float:none;text-align:center;padding:0px 0 0px 0;"> 
  <div class="ad1"> 
   <div class="advertised"> <span class="ad-placeholder">advertisement</span> 
   </div> 
  </div>  
 </div> 
 <p><span style="font-weight: 400;">In a recent </span><span style="font-weight: 400;">blog post</span><span style="font-weight: 400;">, the project’s lead developer, Shytoshi Kusama, addressed the situation. Kusama stated that the issues were not inherent to <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> itself. Instead, they resulted from the massive influx of users and transactions that coincided with the platform’s launch.</span></p> 
 <blockquote> 
  <p><span style="font-weight: 400;">“Our team has been working to scale and bring up the chain again to the extent that we can handle the influx of our decentralized nation-state,” Kusama wrote.</span></p> 
 </blockquote> 
 <h2 id="b-unprecedented-traffic-levels-b"><b>Unprecedented Traffic Levels</b></h2> 
 <p><span style="font-weight: 400;">Kusama provided insight into the scale of traffic that <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> experienced. According to analytics from Alchemy, <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> saw over 160 million compute units in about 30 minutes, a pace that matches the most active layer-2 blockchains currently in operation.</span></p>  
 <div class="quads-location quads-ad148831 " id="quads-ad148831" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;"> 
  <div class="NewTrendin dsdsd m-on"> 
   <h5> 
    <svg class="inline-block w-5 ml-1 text-black _text-digg-blue" width="34" height="20" xmlns="//www.w3.org/2000/svg" viewbox="0 0 17 17" fill="currentColor"> <path fill-rule="evenodd" d="M12 7a1 1 0 110-2h5a1 1 0 011 1v5a1 1 0 11-2 0V8.414l-4.293 4.293a1 1 0 01-1.414 0L8 10.414l-4.293 4.293a1 1 0 01-1.414-1.414l5-5a1 1 0 011.414 0L11 10.586 14.586 7H12z" clip-rule="evenodd"></path> 
    </svg>Recommended Articles </h5> 
   <div class="TrendSList owl-carousel owl-relatedpostar"> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/02/15173931/top-presale-project.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/02/15173931/top-presale-project.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Crypto Presale Projects For 2023 To Invest; Updated List </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/09180645/trading-bots.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/08/09180645/trading-bots.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="crypto exchange affiliate programs" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Best Crypto Trading Bots List 2023</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2022/12/15175104/top_crypto_marketing_agencies.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2022/12/15175104/top_crypto_marketing_agencies.jpg" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4"> Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated] </h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/05/15175814/crypto_telegram_channel.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2023/05/15175814/crypto_telegram_channel.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Crypto Telegram Channels List 2023 [Updated]</h6> <span>Must Read</span> 
    </div> 
    <div class="BoXtrendsI bg-white"> 
     <div class="ImgFrmI"> 
      <img width="1200" height="627" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201200%20627'%3E%3C/svg%3E" alt="ethereum price crypto news" decoding="async" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2022/12/23134356/jpg_20221223_134223_0000.jpg"> 
      <noscript> 
       <img width="1200" height="627" src="https://cdn.coingape.com/wp-content/uploads/2022/12/23134356/jpg_20221223_134223_0000.jpg" alt="ethereum price crypto news" decoding="async" loading="lazy"> 
      </noscript> 
     </div> 
     <h6 class="mb-4">Top 10 Web3 Games To Explore In 2023; Here List</h6> <span>Must Read</span> 
    </div> 
   </div> 
  </div> 
 </div> 
 <p><span style="font-weight: 400;">“On our enterprise plan with Alchemy, we are allotted 400 Million compute units a MONTH. At launch, we experienced 160+ Million compute units in approximately 30 minutes. If we continue at that rate, we are expected to reach billions of compute units daily, on par with the most active layer-2 blockchains. Although we expected a busy moment, we never expected this much traffic instantly,” Kusama explained.</span></p> 
 <p><span style="font-weight: 400;">The official Twitter account for the Shib ecosystem </span><span style="font-weight: 400;">shared</span><span style="font-weight: 400;"> that Kusama intends to incorporate Self-Sovereign Identity (SSI), a blockchain-based digital identity akin to passports, into all Shiba Inu projects.&nbsp;</span></p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">🔓 Unlocking a new digital era, <a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> will restore and enhance trust! 🚀 @ShytoshiKusama unveils the plan to integrate SSI Self-Sovereign Identity in all Shiba Inu projects during his discussions with @CoinDesk #SummerOf<a rel="noopener noreferrer nofollow" title="Shibarium" href="https://thebittimes.com/tag/shibarium.html">Shibarium</a> 🔥 https://t.co/tqWKCM5Nuw</p> 
  <p>— Shib (@Shibtoken) August 3, 2023</p> 
 </blockquote> 
 <p></p> 
 <h2 id="b-shib-price-technical-analysis-b"><b>SHIB Price Technical Analysis</b></h2>  
 <div class="quads-location quads-ad124348 " id="quads-ad124348" style="float:none;text-align:center;padding:0px 0 0px 0;">   
 </div> 
 <p><span style="font-weight: 400;">At the time of writing, Shiba Inu is trading at </span><span style="font-weight: 400;">$0.000008758</span><span style="font-weight: 400;">, a 10.53% decrease over the last 24 hours. The surge in trading volume supports the ongoing correction phase, which is also reflected in the technical indicators.&nbsp;</span></p> 
 <p><span style="font-weight: 400;">The Moving Average Convergence Divergence (MACD) indicator currently displays a bearish crossover. Meanwhile, the Relative Strength Index (RSI) has dropped to the midpoint.</span></p> 
 <p><img decoding="async" class="aligncenter size-full wp-image-157001" src="data:image/svg+xml,%3Csvg%20xmlns='//www.w3.org/2000/svg'%20viewBox='0%200%201600%20851'%3E%3C/svg%3E" alt="Shib price analysis" width="1600" height="851" data-lazy-src="https://cdn.coingape.com/wp-content/uploads/2023/08/18035354/unnamed-161.png"> 
  <noscript> 
   <img decoding="async" class="aligncenter size-full wp-image-157001" src="https://cdn.coingape.com/wp-content/uploads/2023/08/18035354/unnamed-161.png" alt="Shib price analysis" width="1600" height="851"> 
  </noscript></p> 
 <p style="text-align: center;"><span style="font-weight: 400;">SHIB/USD 1-day price chart, Source: </span><span style="font-weight: 400;">Trading View</span></p> 
 <p><span style="font-weight: 400;">If the upward trend is above the 200-day Exponential Moving Average (EMA), the reversal rally could recapture the $0.000010 mark. Shiba Inu holds the 15 position in CoinMarketCap’s rankings, with a market capitalization of $5,151,072,084. The circulating supply of the SHIB/USD cryptocurrency pair stands at 589,346,914,631,298 SHIB.</span></p> 
</div>

Shibarium Weathers Massive Influx, Shytoshi Kusama Claims "All Is Well"

Table of Contents

TheBitTimes

Other articles published on Aug 17, 2023

Shiba Inu's Ethereum Layer2 Network Shibarium Live on Mainnet

North Korean Hackers Steal $180M in Cryptocurrency in Q1 2023!

Wall Street Faces Downturn Amidst Inflation and Fed Divisions: Bitcoin World Report

Valero Energy Corp. (VLO) Close To Breakout Region, What Next?

How to Handle Crypto FUD: Mastering Emotion While Crypto Trading

3 Blue Chip Coins Americans Can Still Buy

Join our free newsletter for daily crypto updates!