Shiba Inu Coin: Why a developer pays for Shibarium and Blast will close on October 26: What to focus

No need to panic today when holding SHIB: In-depth analysis of the Blast's closure of the Shibarium capital chain

If you own Shiba Inu (SHIB), there is no reason to rush to operate today. The most important news this weekend is still worthy of in-depth analysis: On Friday, October 2, 2026, Blast, the second-layer network in the Ethereum ecosystem, announced that it would cease operations. This logic also applies to every Layer 2 network on the Ethereum track, because the arithmetic logic behind it is consistent. On the same day, a developer of Shiba Inu answered the question "Who is paying for Shibarium?" in two words. These two things combine to present you with a specific task that has nothing to do with chart movements, but on which chain your tokens are actually hosted.

Short answer: Your SHIB position is likely not on Shibarium at all, but on the Ethereum main network or exchanges. In this case, today has no effect on you. People who have sent tokens through Shibarium Bridge for redemption or games in the past few months now hold an open position on the chain whose funds are openly dependent on individuals. This is what you need to focus on today.

What happened on October 2: Blast gradually retired, and developers bluntly said that Shibarium was funded by individuals

In 2024, Blast was one of the largest layer 2 networks in the Ethereum ecosystem. According to a statement released Friday, assets on the chain have dropped 98% from a peak of approximately $2.2 billion in June 2024. The team pointed out that the economic model for keeping the network running is no longer reasonable, operating costs have exceeded revenue, and there is no viable path to sustainable operation. Users can still withdraw funds through a familiar interface, with the deadline being October 26, 2026. From then on, bridging contracts on Ethereum will be the only way, which is technically feasible, but requires more self-operation efforts.

On the same Friday, a user on the X platform asked the Shiba Inu camp the same question: Who is paying for the maintenance and further development of Shibarium? Developer Kaal Dhairya replied "Yours truly". Industry media subsequently reported on the interaction. Dhairya neither mentioned a specific amount nor stated plans for long-term financial support. This statement is not a shutdown announcement and should not be interpreted as a shutdown. Instead, it reveals the current extremely narrow funding base of the chain.

Shibarium's perspective: 1,804 transactions versus 0.0154% network load

与其猜测，不如通过数据来衡量现状。Shibarium 浏览器 shibariumscan.io 的公共统计端点可实时提供链状态。本周日 UTC 时间 16:50 的查询结果显示：当日有 1,804 笔交易，网络负载为 0.0154%，Gas 价格为 2.78 gwei，平均区块时间为约 5.0 秒。自上线以来，该链累计记录了 612,982,618 笔交易，10,572,570 个区块和 263,237,202 个地址。

最引人注目的数字源于上述数据的推导。Explorer 报告当天的 Gas 消耗量为 159,774,955 单位。乘以显示的 Gas 价格 2.78 gwei，得出的手续费约为 0.4442 BONE。根据 CoinGecko 数据，当时 BONE 报价为 $0.056634。因此，Shibarium 截至当日下午获得的总手续费约为 2.5 美分。这是一个衍生数据，而非会计账目中的一行，因为它未考虑回扣或分配给验证者的部分。但从数量级来看，它说明了一切：一条一天只产生邮票价格手续费的链条，根本无法为其自身运营提供资金。

这使得开发者的回答变得合乎逻辑。确实没有收入来源来支付服务器、数据发布和维护费用。Blast 正是败给了完全相同的计算，只是它的两边数字更大而已。

二层网络的算术逻辑：电力、服务器和数据发布每天都需要花钱

There are three main cost blocks for Layer 2 networks. The first is to run nodes that accept transactions and build blocks; the second is to publish data to Ethereum, because without this data, no one can independently verify the state of the chain; and the third is the development itself, the people who fix vulnerabilities and maintain contracts. Only when usage is low can the first cost block remain small. As long as the chain produces blocks, the second cost block will persist.

There is one key point that is crucial for holders and often misunderstood. The risk of cash-starved secondary networks is usually not a complete zeroing of tokens. The value lies in the bridging contract on Ethereum. The real risk lies in access rights: if the interface is closed, operators are lost, or nodes are stuck, you need technical knowledge and patience to obtain funding. This is why Blast set an October 26 deadline and points to the contract withdrawal route.

Anyone who holds their own private key carries the key personally, regardless of whether the third-party chain is online.

Your SHIB is located in Ethereum, not Shibarium: The difference in practice

The most common mistake this week is thinking that SHIB is a Shibarium token. This is wrong. The Shiba Inu contract is located on Ethereum at 0x95 ad 61b0a 150d 79219dcf 64e1e6cc 01f0b64c4ce. Anyone holding a SHIB on an exchange or Ethereum wallet is technically unaffected by Shibarium's funding issues. Shibarium is an additional chain belonging to the same project, tokens can be bridged to it, and BONE is its fee currency.

检查非常简单。打开你的钱包，查看显示 SHIB 或 BONE 余额时选择的是哪个网络。如果显示 Ethereum Mainnet，则余额在主网上。如果显示 Shibarium，则你持有的是桥接余额。在交易所情况类似：余额存储在提供商的内部账本中，只有在提现时才涉及网络问题。查看提现对话框即可知道提供商支持哪些网络。

官方文档中的 Shibarium 桥接：30分钟与1小时

如果你发现了桥接余额，了解项目方引用的数据是有价值的。桥接文档列出了两条路线。通过所谓的 PoS 桥接，从 Shibarium 提款到以太坊大约需要 30 分钟；通过 Plasma 桥接大约需要 1 小时。技术上，代币在 Shibarium 上被销毁，并在以太坊上重新释放。同一来源描述 Plasma 变体更为僵化且灵活性较低。

这些时间是项目方的估算，并非保证。但对于你的规划来说，这意味着提款以小时计，而非周计。所以你不需要今晚就转移所有资产。你应该知道你可以这样做，并且需要在以太坊上准备好必要的手续费，因为在主网上释放代币需要 ETH。如果账户中没有 ETH，最后一步就无法完成，这也是大多数提款失败的地方。

提款手续费是多少

A rough estimate requires two transactions on Ethereum: release and completion. When the network is quiet, the cost is only a few euros; when it is busy, it is much higher. Honestly compare this amount to the value of your bridging balance. If the amount involved is only a few euros, it may be more economical to stay put and admit the loss than to pay a similar fee. No one can make this judgment for you, and it depends entirely on your own data.

Crypto asset custody: Exchanges, software wallets or hardware wallets in the German market

Another issue raised by this incident is custody. Anyone who deposits tokens with a third-party chain or provider relies on the continued existence of that party. Anyone who holds their own private key assumes custody responsibility. Both have costs, and no one solution fits everyone.

Software wallets on mobile phones are convenient and suitable for small amounts of money; the main difference between common programs is how mnemonic words are protected. For the amount of money that would hurt you to lose, the key should be placed on a device that has never been connected to the Internet. Which models fit the criteria and their prices can be found in Hardware Wallet Comparison. Anyone who trades frequently and does not want to manage keys should continue to use the provider, but should at least have a two-factor authentication and withdrawal address list.

One point that is often overlooked during migration: Write mnemonic words on paper or metal plates, and never save them in photo albums or notes apps. These words are themselves keys. Digital storage reduces the security of your wallet to the level of security of your mobile phone.

区块链是基础设施：即使在几乎无人使用的日子里，它也消耗电力和计算时间。

MiCA 法规下的购买：德国加密交易所自2026年起承担的义务

对于购买渠道，随着欧洲加密资产市场法规（MiCA）全面生效，德国已有清晰的框架。为零售客户安排或持有加密资产的提供商需要授权并接受监管。这意味着在购买前检查提供商是否在欧盟获得授权以及由哪个机构监管。随之而来的义务包括资本要求、客户资产隔离以及有序处理投诉的义务。有关授权场所及其费用的详细信息可在交易所比较中找到。

在实践中，对于 SHIB 这样的次要资产，最主要的一点是：并非每个授权提供商都列出每个代币，且在小型场所，买卖价差往往高于 stated fee（声明的费用）。比较你实际收到的金额，而不是价目表中的百分比。

持有期和转账：在你自己的钱包之间移动触发的税务问题

从二层网络提款通常会引发税务局是否关注的问题。德国的基本规则多年来保持一致：作为私人资产持有的加密资产出售收益，如果在取得和处置之间超过一年，则免税。在你拥有的两个钱包之间的转账不属于销售，因此不会触发处置。持有期继续计算。

It is important to note that if the transfer is technically exchanged (such as converting a token to another form during bridging), a taxable event may arise. Therefore, record the date, amount, and transaction hash for each step. This takes only five minutes, and if this happens in the future, it avoids the trouble of reconstructing records from memory. This paragraph does not constitute a binding recommendation; for large amounts of money, cases should be referred to tax advisers.

Data in the record: SHIB, BONE and distance from historical highs

As background, the following are the values on CoinGecko at 16:43 UTC on Sunday evening. SHIB is quoted at $0.00000572 (approximately € 0.0000508) and has a market value of approximately US$3.37 billion, ranking 35th in the global market. The circulation supply is 589,238,857,696,030 coins. It is still 93.35% away from the historical high of $0.00008616 on October 27, 2021. BONE is quoted at $0.056634.

These data are a Sunday snapshot that changes from hour to hour. But for this article, they are still useful because they fix a fixed order of magnitude: the fee stream for a chain of only 1,804 transactions per day has nothing to do with the market value of its associated tokens. Anyone wanting to judge Shibarium's future should focus on usage, not valuation.

What other Layer 2 networks have learned from the end of Blast

Blast is not the first case, but it is by far the largest case of a second-layer network that has stopped operating for economic reasons. For the market, this is a normalization. Dozens of such chains will be born in 2023 and 2024, often driven by incentive plans to attract short-term user participation. When these plans expire, all that remains is the real usage of the project. For Blast, this turned out to be too little.

This means neither reassuring nor alarming for Shibarium. The chain is running, producing blocks at a five-second rhythm and being used by its ecosystem, albeit on a very small scale. The open question is funding, and the developer's answer on October 2 made it public rather than answering it. There is concentration risk in a project where infrastructure depends on individuals. This is a calm observation, not an accusation.

Shibarium and Your Tokens: A Guide to Action

1. Confirm network

Open your wallet and read which network your SHIB or BONE balance is located on. Ethereum Mainnet means that no action needs to be taken. If Shibarium is displayed, proceed to step 2. If all are at the provider, please check which networks are provided in the withdrawal dialog box; which wallet programs clearly display network information can be found in software wallet comparison.

2. Prepare your way back with ease

Reserve the Ethereum fee and weigh the cost against the value of the bridging balance. According to the project party, it takes 30 minutes to return via PoS bridge and about one hour via Plasma bridge. Where to replenish ETH with the lowest fee can be found in exchange comparisons. Then decide whether the withdrawal is worth it.

3. Properly establish custody

Decide which part of the position remains with the provider and which part is transferred to your own equipment. Devices and their prices are listed in the Hardware Wallet Comparison. Write the mnemonic in analog form and store it separately from the device.

(As of October 4, 2026. This article does not constitute investment advice. Price and fee structures are subject to change; please check terms with your provider before purchasing.)