- Shibarium launched a security upgrade to strengthen decentralization and protect against single-point failures.
- Network activity remains strong with over 30 thousand smart contracts and 272 million wallet addresses.
- Shiba Inu saw a 15% price drop despite rising institutional interest and ETF filing news.
The Shiba Inu team released a major upgrade of the Shibarium network to enhance decentralization. The update is tied to the network recovering after a security attack in September. The legacy public RPC endpoint will remain offline for the next two weeks.
This endpoint connects wallets, decentralized apps, and the blockchain, allowing transactions and balance checks. Without it, users temporarily cannot access smart contracts or complete transactions.
Steps to Enhance Network Resilience
Shibarium’s engineers explained that the update reduces reliance on a few public nodes. The network now encourages a more distributed infrastructure to prevent single points of failure. Developers previously paused Shibarium to address a compromised validator key.
An attacker had briefly used a 4.6 million BONE delegation to attempt network control. The breach did not exploit core protocol weaknesses. Following the incident, the team added validator blacklisting and a seven-day withdrawal delay for the Plasma Bridge. Operations resumed fully, and BONE bridging restarted shortly after the update. Shibarium recently launched a $4 million refund plan after a major exploit and network shutdown.
Network Activity Remains Strong
Shibarium maintains high usage despite past security concerns. The network has over 30,000 smart contracts and 272 million wallet addresses. Since its introduction, it has processed more than 1.54 billion transactions.
In the last 24 hours, approximately 8,400 transactions were recorded from around 300,000 active users. BONE token activity remains steady with more than 4.69 million transfers to date. The upgrade ensures users can continue interacting with the network safely while strengthening decentralization.
Market Moves and Investor Interest
Meanwhile, U.S. investors showed renewed interest in Shiba Inu through T. Rowe Price’s ETF filing. T. Rowe Price recently filed to launch its first active crypto ETF in the US, aiming to diversify beyond mutual funds. The filing indicates potential inclusion of Shiba Inu alongside Bitcoin, Ethereum, and Solana.
Despite this, Shiba Inu’s price posted its first monthly decline since launch. By the end of October, it fell about 15%, briefly reaching $0.0000087 during a market downturn. The filing highlights growing institutional attention even as market volatility impacts token performance.
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