Biggest Movers: DOGE, SHIB Slip Following ECB Rate Hike

Dogecoin and shiba inu fell by as much as 5% in today's session, as markets reacted to the European Central Bank (ECB) rate hike. The bank moved to increase rates by 50 basis points, despite the recent banking crisis.

Timeline of Dogecoin, Shiba-inu

After being accused of being a clone, Shibarium, a Layer-2 solution for the Shiba Inu cryptocurrency, has caused turmoil within the community, leading to a sharp collapse for Shiba Inu, which has emerged as one of the dominant meme coins after Dogecoin.

The price of Dogecoin has gone up again in recent weeks thanks to newfound assistance from Elon Musk, the South African billionaire and CEO of companies like Tesla, SpaceX, and now Twitter.

Although the meme cryptocurrency Dogecoin (DOGE) is recording losses on multiple charts, its community still holds a bullish attitude and expects the digital asset to conclude the third month of 2023 with a significant increase to its current price.

Shiba Inu Coin News: Shiba Inu's (SHIB) upcoming Shibarium blockchain has already landed into controversy. It is alleged that the Shiba Inu developers have copied Rinia which is a different project.

The Shiba Inu price has fallen by 4% in the past 24 hours, dropping to $0.00001057 after the emergence of claims that code for the Shibarium layer-two network had been copied from the Rinia blockchain.

The Shiba Inu team has announced that there is a new shib.io website, debuting a new and improved Shib the metaverse branding.  There was a mistake with Shibarium Beta chain ID, the Shiba Inu developer also revealed.

The latest Shibarium Layer 2 scandal has attracted negative attention to Shiba Inu (SHIB) and the $BONE ecosystem. With the Shibarium layer 2 developers accused of source code copyright infringement, investors have been fleeing the networks at an unprecedented rate.

Bankrupt crypto lender Voyager Digital moved 270 billion Shiba Inu (SHIB) tokens to top US crypto exchange Coinbase in a 12-hour period this week, according to the blockchain security firm Peckshield. Those 270 billion SHIB tokens were worth about $3 million at time of transfer.

Shiba Inu (CRYPTO: SHIB) developer Kaal Dhairya has admitted to making a mistake regarding the Shibarium Beta chain ID after the community accused the team of stealing the Rinia chain ID. What Happened: Dhairya, on Thursday, acknowledged his mistake of not rechecking at the time of the PuppyNet network launch and confirmed that the chains were not registered at that time.

The Shiba Inu (SHIB) ecosystem has been thrilled by the launch of the Shibarium layer 2 public testnet. However, the rehearsal dance stopped after a discord user spotted a discrepancy in Shibarium chain ID. Reportedly, Shibarium developers copied Rinia testnet genesis files but forgot to change the chain ID.