Shiba Inu Developer Outlines Strategies to Expand Operations at Shibarium
Shiba Inu (SHIB) developer Cal Diriya outlined strategies and plans to expand operations at Shibarium in response to increasing traffic congestion in the network.
Phenomenon recently provided insights into the platform’s technical issues after the Polygon-based network saw an unexpected surge in traffic. This led to thousands of contract creations and normal transactions being identified within a single block.
As a precaution, Shibarium has entered a fail-safe mode to secure users’ funds.
To address these issues, Cal says he will collaborate with knowledgeable partners, including other developers and a so-called “unification team.”
He added that multiple action plans have been developed and will be implemented, with regular updates shared with the community to ensure transparency and maintain open channels of communication.
The developer also highlighted the circulation of a fake screenshot causing undue fear, uncertainty and doubt (FUD). The Cal team is currently investigating the extent of the damage and is actively working to determine the source of the screenshot.
To instill confidence in users, Shiparium reassured the community that the funds inside the bridge are safe. To provide further guarantees, it was stated that Cheparium would insure the full $2 million in the event of any potential problems after the Cheparium network restarts.
Cal concluded by emphasizing Shaparium’s commitment to overcoming the technical challenges it faces while prioritizing the protection of user assets. The team remains determined to keep the community well informed and engaged throughout the process, he says.
Meme Coin Craze
While meme coins are often criticized for their lack of real utility, these assets are gaining traction in the crypto-verse.
In May, Linda Iaccarino, CEO of X Corporation, followed the official Shiba Inu (SHIB) account on social media. This has led to speculation that she might be interested in the meme coin.
According to a recent survey, 40% of US investors invest in meme coins. This survey was conducted with 2,531 US citizens, with each participant completing a comprehensive 55-question survey.
About 65% of the respondents shared that humor and jokes play a role in helping them understand complex concepts in the cryptocurrency sector.
At press time, Shiba Inu (SHIB) is exchanging hands for $0.00000854, which is down 17% this week, according to CoinGecko.
