Shiba Inu Unveils Minor Shibarium Update Amid Ongoing Price Decline
Shiba Inu has broken its silence after weeks of radio silence with an update on Shibarium, its layer-2 scaling solution. According to the team's official X account, a 'small but useful' update has been implemented for Shibarium, which includes refreshing its RPC listing in the Ethereum-lists/chains registry and updating connection details on Chainlist.
The move has sparked mixed reactions from users, with some praising it as making access to the protocol more convenient while others describe the update as insignificant. This frustration may stem from Shibarium's declining activity following an exploit last year, which saw daily transactions processed on the network fall to the low thousands and occasionally even the hundreds.
SHIB has slipped by 6% over the last week and now trades at around $0.000005196 (according to CoinGecko). Its market capitalization stands at just north of $3 billion, making it the 33rd-largest cryptocurrency. Meanwhile, SHIB's burning program has seen a decline in burn rate of nearly 90% over the past month, meaning a negligible amount of tokens has been sent to a null address.