Shiba Inu (SHIB) surges 25% in 7 days, despite Shibarium network outage 


A recent outage in the Shibarium network failed to impact the trade price of the Shib token. 

Shiba Inu (SHIB) is a popular meme token. In 2021, this token grabbed huge popularity, under the influence of the Elon Musk & Dogecoin (Doge) rally. However, the origin of this token was nothing but to date the crypto ecosystem of the Shiba inu project is very big. 

The current trade price of the Shib token is 24% higher over the last 7 days of the period. 

It is worth it to note that the Shibarium blockchain network faced a technical issue on 22 April 2024. Following that issue, the Shibarium blockchain was offline. 

That network outage occurred because of networking issues amongst the validators. 

Many people noted that the sudden network outage, despite the fact it was temporary, the trade price of the Shiba inu token failed to show any downfall.

This fact shows a very big supportive factor for Shiba Inu & its crypto market influence among the crypto investors. 

Layer-3 blockchain 

On 22 April 2024, The Shiba Inu project team raised $12 million in funding to develop a layer-3 blockchain network on the Shibarium network.

With the new blockchain network, the project team aimed to provide a highly secured & fast crypto transaction for the supported crypto assets on the network. 

Under the new project, the project team will launch a new token called the “$TREAT” token. Now it will be interesting to see how the Shiba inu project team will convince the Shib token investors to show interest in the new crypto token. 

Already multiple tokens e.g. $LEASE, $BONE, $SHIB are trading under this project and also they aim to launch another token called “SHI” token by the end of this year. 

Read also: In 1 month $27 million was raised by fraudsters via Solana meme crypto pre-sale