Shibarium, a layer-2 blockchain network developed for Shiba Inu, recently reported a disruption caused by networking problems among its validators. Developer Kaal Dhairya identified this issue and shared it on the X social media platform.
Although the network resumed operations shortly afterward, some components, such as Shibariumscam, a site monitoring network health, and external Remote Procedure Calls (RPCs) remain impacted.
Validators experienced difficulties in communicating, which temporarily halted network services. The rapid response from the Shibarium team helped mitigate the effects and restore most functionalities. This incident marks another in a series of technical challenges for Shibarium since its inception in August of the previous year.
Currently, Shibarium boasts over 400 million processed transactions with close to 1.7 million wallets created by users. Developers and teams external to Shibarium that contribute to its infrastructure are advised to contact Dhairya for insights and support related to these ongoing issues.
Shiba Inu, a meme cryptocurrency, has recently stood out in the crypto world due to its impressive gains over the past week, with a more than 14% surge. Despite this surge, the SHIB has turned, with a noticeable drop in value. In the past day, Shiba Inu’s value declined to $0.00002711, marking a 0.26% fall.
The cryptocurrency is encountering challenges, one being a significant reduction in trading volume by over 4%, down to $147 million. This has sparked discussions among its enthusiasts. The total supply of SHIB stands at 589.29T, resulting in a market valuation of approximately $969 billion. The latest figures from CoinMarketCap rank Shiba Inu as the 11th largest digital currency.
The Relative Strength Index (RSI), sitting at a moderate 54.48, leans neither towards an overbought nor an oversold condition, suggesting a potential equilibrium in trader decisions. Meanwhile, the Moving Average Convergence Divergence (MACD) presents a nuanced picture, indicating a potential change in momentum. The MACD histogram’s gradually shortening bars reinforce this outlook.
