The Shiba Inu (SHIB) meme token and its other ecosystem tokens $LEASH and $ have been crashing hard on Thursday, amid a turbulent launch of Shiba Inu’s Shibarium layer-2 Ethereum scaling solution.
Shiba Inu developers launched the public alpha version of their blockchain, which will from now on provide the underlying infrastructure to the entire Shiba Inu ecosystem, on Wednesday.
But reports quickly began circulating that there were problems with bridging funds to the layer-2 blockchain from Ethereum.
While Shiba Inu’s lead developer who goes by the pseudonym Shytoshi Kusama has since put out a blog post pushing back against FUD and putting the protocol’s stuttering start down to “insane traffic”, $SHIB, $LEASH and $BONE have failed to recover.
$SHIBA was last trading lower by around 7.5% on Thursday and at current levels near $0.0000085, is down around 25% versus last week’s highs above $0.0000011.
$LEASH, meanwhile, was last down around 8% near $450 and down over 33% versus the highs it hit around $690 three days ago.
Finally, $BONE was down around 10.5% on Thursday and, at current levels near $1.20, is also down around 33% versus its earlier monthly highs.
The Shibarium protocol’s imperfect start, coupled with a sell-the-fact reaction to the protocol’s launch after a big build of hype earlier in the month, aren’t the only things weighing on Shiba Inu ecosystem tokens, however.
The broader crypto market is under heavy sell pressure on Thursday after Bitcoin ($BTC) and Ether ($ETH) fell through key levels of long-term support.
Here are three Shiba Inu ($SHIB) alternatives to consider buying on Thursday as the meme token’s price crashes.
One of the internet's most powerful retail investing communities Wall Street Memes, which has
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