Shiba Inu (SHIB) tumbles 7% on Shibarium code concerns

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One of the leading memecoins – Shiba Inu (SHIB) – has seen its price drop in the last 24 hours. As of this writing, it’s down about 7%.

This comes as some users discovered that the chain ID of Shiba Inu’s blockchain – Shibarium – is the same as that of another network.

  • Speaking about this, one user explained that checking the channel ID is one of the easiest things developers can do when deploying a network for the first time.

As using an ID that already exists is simply incompetent as your channel would not work properly and anyone trying to interact with your channel would interact with the other channel instead.

Why does it seem that the Shibarium testnet took the rinia testnet genesis file. Changed the name of rinia. But I forgot to change the channel ID.

  • As CryptoPotato reported earlier in March, the release of the testnet was a pivotal moment for the community. Speaking on this, lead developer Shytoshi Kusama said:

This will allow us to meet the military and stay organized in the process. This will allow us to increase Shibarium’s reach with professional companies and reset our relationship with companies we have also contacted in the past. Finally, it will help us find the right validators.

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