Shiba Inu Defies Market Woes: SHIB & BONE Prices Rebound

• The Shiba Inu’s Layer-2 Shibarium network recently halted operations due to unexpected traffic surges, but has now resumed block production.
• Kaal Dhairya, the developer of Shiba Inu, provided an update and insured $2 million for any potential post-restart issues.
• Prices of SHIB and BONE have strongly rebounded after the resumption of Shibarium’s operations.

Shibarium Resumes Block Production

The Shiba Inu Layer-2 Shibarium network has resumed block production after halting due to unexpected traffic surges. Developer Kaal Dhairya provided an update on the situation and assured users by insuring $2 million for any potential post-restart issues.

Unexpected Traffic Surges

Shibarium was forced into its fail-safe mode when it experienced a surge in contract creations and regular transactions in just one block. This prompted the team to prioritize the security of users’ funds before anything else.

Official Update by Kaal Dhairya

Kaal Dhairya kept the community informed with an official update on August 18th. He also addressed a particularly harmful piece of FUD (Fear, Uncertainty, Doubt) circulating online which caused unwarranted distress among supporters of Shiba Inu.

Market Reactions: A Resilient Rebound

Despite initial jitters which saw several traders liquidate their tokens, prices have strongly rebounded after Shibarium’s restoration. SHIB dipped 11%, while BONE saw a 15% dip but is currently trading at $1.18 and LEASH is making its way up again as well.

Trust Restored

By quickly responding to this issue and taking proactive steps towards ensuring user safety, the Shiba Inu team has restored trust in their platform and offerings once again. With prices strongly rebounding already, it looks like things are back on track for Shibarium!