SHIB's share price is plummeting, users are reporting problems and the Ethereum bridge is also broken. The launch of the Shibarium Mainnet has yet to prove a success.

Today, Aug. 17, the Shiba Inu Mainnet Shibarium was launched. The Layer 2 blockchain promises better scalability, faster transaction times, lower costs and a more comprehensive framework for developers. It also aims to optimize the integration of Web3 applications. In addition, Shibarium aims to push for better integration of cryptocurrency in the gaming sector.

Buckle up #SHIBARMY 🛸 Shibarium is officially live and ready to explore: https://t.co/56VsqOa2jt
— Shib (@Shibtoken) August 16, 2023

According to blockchain company Beosin, there was a transaction log blockage on the Ethereum bridge this morning - about US$1.7 million in ETH is stuck, they say. In addition, there were other technical problems and the blockchain explorer was not working properly.

🚨Transactions on #Shibarium are stuck in a pending state.
$1.7M are currently locked on ETH.

Users are advised to temporarily stop using shibarium.https://t.co/io5puAibBc https://t.co/q2SXqtthoO
— Beosin Alert (@BeosinAlert) August 17, 2023

Shiba Inu chief programmer Shytoshi Kusama appeases and explains that the increase in users has overloaded the network. The criticism is just FUD and there are no problems with the bridge, Kusama said in a blog post.

Similar to Polygon, Ethereum, and other blockchains, Shibarium is open for anyone to build on. Regrettably, this also provides an avenue for bad actors to develop scam dApps and rug-pull tokens, among other things.

The mere incorporation of the term "Shibarium" or "Shib" in… pic.twitter.com/AiNqORi7J2
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 16, 2023

Therefore, Shiba Inu's marketing manager now comes with a warning: fraudulent applications and back-pull tokens could emerge on the Shibarium network after the launch. Shiba Inu (SHIB) is trading at a loss of about eight percent over the past 24 hours.