WazirX Severs Crashed During Shiba Inu Peak, But Memes Went ‘To the Moon’

On Wednesday, after an anonymous buyer bought 277 billion tokens of Shiba Inu, it registered a record growth while Bitcoin prices slipped to its lowest in a week, dropping below $60,000. The SHIB token was up by 27.22 per cent Wednesday. However, the crypto market cap was down by 6.60 per cent over the last 24 hours. The total crypto market volume over the last 24 hours was $142.61 billion. This is a whopping 43.84 per cent increase in 24 hours, mostly due to the huge amount of the anonymous Shiba Inu token purchase. The most popular altcoin was also down by 6.23 per cent over the last 24 hours and standing at $58,862.03. Wazirx, one of India’s largest cryptocurrency trading platforms, however, crashed as the volume of trades in the global cryptocurrency market, went up, and subsequently, WazirX’s servers went down. While servers went down, frustration soared as traders were stopped midway while placing orders and restricted from booking profits. Many tagged Nischal Shetty, the founder of Wazirx, in their tweets demanding compensation for the losses due to this crash.

The company had to push out messages informing about a delay in app and web functions thrice in the last 24 hours, much to the users’ chagrin. It also detailed the reason for the lag saying “Due to massive traffic surge in SHIB/INR market, there are delays in order execution & cancellation. We are scaling our systems in real-time to accommodate more users & will update you soon.”

While WazirX’s servers went down, the memes kept going up.

Wazirx had last crashed on May 20 earlier this year after Bitcoin, Ethereum and most other cryptocurrencies witnessed a slump. On May 4 too, WazirX crashed for about an hour due to a spike in Dogecoin’s price, resulting in frenzied trading.

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