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Shibarium

Critical Shibarium Chainlink Update Issued by Shiba Inu Team
NFT Gaming

Critical Shibarium Chainlink Update Issued by Shiba Inu Team

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Shiba Inu developer Kaal Dhairya has recently provided a crucial update for the Shiba Inu community.

In a tweet, Dhairya spoke of a minor snag recently encountered while stating that the Shibarium lane powered by CCIP will be active Monday.

While the context of the tweet remains quite uncertain, as no further details were provided by the SHIB developer, it might have to do with Shibaswap’s recent cross-chain expansion push.

In a recent tweet, Shiba Inu team member Lucie revealed that ShibaSwap would be expanding across major blockchains to strengthen the Shiba Inu ecosystem, thanks to the latest release of ShibaSwap, which makes the platform multi-chain.

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Thanks to a recent upgrade, traders will be able to exchange tokens directly between a wider range of networks, including Ethereum, Polygon, Arbitrum and Base. Zooming out, this upgrade positions ShibaSwap to attract liquidity from major blockchains while paving the way for Shibarium integration.

CCIP in the context of the tweet refers to Chainlink’s cross-chain interoperability protocol, which connects the Shiba Inu ecosystem with over 20 blockchains.

Shibarium incident

A recent incident on Shibarium bridge saw an attacker use a flash loan to buy 4.6 million BONE. Only a small amount of ETH/SHIB was moved, with the majority of assets, including the 4.6 million BONE, remaining locked and frozen.

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Stake/unstake functionality has been paused as a precaution with funds secured in multisig cold storage, and security firms, including Hexens and PeckShield, are actively investigating the incident, according to an update provided by SHIB developer Kaal Dhairya. Validator keys are being secured with further updates to be provided as the investigation progresses.

Shiba Inu’s BONE token was surprisingly up 43% in the last 24 hours to $0.236 amid the recent incident.



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Shibarium Transactions Plunge 99.8%, Only 9.5K Recorded Today
Crypto Trends

Shibarium Transactions Plunge 99.8% as SHIB Shows Signs of Breakout

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Shibarium, the Shiba Inu Layer-2 network, has faced a 99.8% collapse in daily transactions. According to Shibariumscan data, activity on Shibarium dropped with only 9,590 transactions recorded. 

On August 20, the network peaked at 4.8 million transactions, and now it’s losing ground rapidly. This drop coincides with the withdrawal of many people from the market who are not making any bold moves.

The basis of Shibarium is still solid despite this setback. The network just commemorated the second anniversary of its August 2023 launch. As of writing, it has processed more than 1.56 billion transactions, while the number of wallet addresses has grown past 271 million. 

As per the data, Shibarium has already produced over 12.8 million blocks. These numbers show that despite short-term dips in activity, long-term adoption of the network is still moving in the right direction.

Ecosystem Growth and Investor Alerts

Besides, Shiba Inu continues to gain traction in traditional finance. This week, asset manager Valour launched new SEK-denominated ETPs in Sweden, including one for SHIB, opening access to Nordic investors. 

At the same time, the Shiba Inu team has stepped up warnings to the community. Scammers have been targeting investors through fake accounts and counterfeit tokens. The team reminded holders to avoid clicking random links and to verify all sources. 

They also clarified that there is no official LEASH token on Solana and no migration to Solana at all. Any token outside the official Shiba Inu ecosystem remains fake

Also Read: Ethereum ETFs Record $4B Monthly Inflows as Bitcoin Lags



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Shiba Inu: Shibarium Hit With 99.8% Drop as Transactions Hit Rare Low
NFT Gaming

Shiba Inu: Shibarium Hit With 99.8% Drop as Transactions Hit Rare Low

by admin


Shiba Inu Layer-2 network Shibarium has witnessed a 99.8% drop as daily transactions hit rare lows.

According to Shibariumscan data, daily transactions for Shibarium are at 9,590, a far cry from a figure of 4.8 million seen on Aug. 20, marking a 99.8% drop.

The drop corresponds with lackluster trading action in the crypto market seen in late August, with market players staying on the sidelines.

Despite the drop in daily transaction volume, Shibarium statistics stay steady. Shibarium marked its second anniversary, having launched in August 2023, with total transactions surpassing 1.5 billion and addresses surpassing 270 million; total blocks have surpassed 12 million.

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Total transaction count on Shibarium currently stands at 1,566,119,160. Total blocks now stand at 12,811,111, and total addresses are now at 271,936,819, according to Shibariumscan data at press time.

Shiba Inu news

This week, asset manager Valour announced an expansion of its Nordic product suite with the launch of eight new SEK-denominated ETPs, including Shiba Inu on Sweden’s Spotlight Stock Market.

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Recently, the Shiba Inu team has intensified warnings to the SHIB community as coordinated bad actors and networks of fake accounts continue to actively target vulnerable investors. SHIB holders are warned not to FOMO (fear of missing out) into random links. They should also never connect their wallets without verifying the source.

In a separate warning, the Shiba Inu team reiterated that there is no official LEASH token on Solana, nor is there any migration to Solana. They also stated that any version of token not found on the SHIB website is fake and not part of Shiba Inu ecosystem.

In this light, Shiba Inu community members are urged not to engage with such fake tokens, nor should they do so with unofficial accounts.



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