Shiba Inu Traders In Limbo As Shibarium Launch Date Uncertain

Shiba Inu (SHIB) enthusiasts and traders find themselves caught in a state of uncertainty as the much-anticipated Shibarium launch date remains elusive. 

With the upcoming launch of Shibarium, which promises to provide a dedicated ecosystem for SHIB enthusiasts, excitement has been running high. However, despite the buzz surrounding the project, the exact date of Shibarium’s release remains a mystery, leaving traders and community members eager for more information. 

When will Shibarium finally make its grand entrance into the world of Shiba Inu trading?

Shiba Inu Traders Await Shibarium Launch

The Shiba Inu community, eagerly anticipating the release of Shibarium’s mainnet, finds themselves in a state of uncertainty due to recent updates. LucieSHIB, a prominent promoter of Shiba Inu, initially announced that the highly anticipated Shibarium mainnet would be launched sometime between the second and third quarters of 2023. 

However, the same source has now hinted at a potential delay in the previously anticipated launch date, raising doubts among traders and enthusiasts.

#Shibarium is not coming this month, and there’s a BIG MAYBE it will come in the next 2-3 months. However, since we have waited this long, we can wait a few more weeks.

Meanwhile, let’s enjoy the things that will come before, such as Metaverse teasers or new $SHIB achievements.… pic.twitter.com/PAhqpXOuxf

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) June 9, 2023

Although there is uncertainty surrounding the exact timing of the mainnet launch, significant advancements have been observed on the Shibarium testnet. This progress is clearly evident as indicated by the information obtained from the Puppynet scanner, which provides insights into the steady and continuous development of the testnet.

Despite the ambiguity surrounding the specific details and timeline of the mainnet launch, the Shibarium testnet has been actively evolving and making notable strides. The information gathered through the Puppynet scanner serves as a reliable source of evidence, demonstrating the consistent progress being made within the testnet environment.

SHIB market cap losing its grip on the $4 billion handle. Chart: TradingView.com

The ongoing advancements on the Shibarium testnet signify the dedication and commitment of the development team to ensure a robust and reliable infrastructure for the impending mainnet release. While the exact launch date may still be uncertain, the steady growth and improvement witnessed on the testnet instill confidence in the project’s overall development trajectory.

Shibarium: At A Glance

Shibarium is a forthcoming and long-awaited Layer 2 blockchain solution for Shiba Inu that aims to resolve Ethereum’s slow transaction speed. Its purpose is to set the groundwork for constructing the Shiba Inu ecosystem, which will include a metaverse, a DEX, and blockchain games.

An illustration of Shibarium. Image: Vcgamers

As of the latest report, the testnet has witnessed an impressive number of transactions, surpassing 19.4 million. Furthermore, there are currently over 16.7 million wallet addresses and more than 1.2 million blocks within the testnet.

These figures demonstrate the active engagement and growing interest within the Shiba Inu community, despite the lingering uncertainty about the official launch date of Shibarium.

Shiba Inu (SHIB) Price Dips

Shiba Inu (SHIB) is currently being traded at a price of $0.00000662, as reported by CoinGecko. However, the cryptocurrency has experienced a 1.7% decline within the last 24 hours. This downward trend becomes even more pronounced when considering the past seven days, as SHIB has seen a significant decline of 22.4%.

Source: Coingecko

The recent price drop has pushed SHIB into a strong bear trend, indicating a notable downward movement. This bearish sentiment is further supported by the Relative Strength Index (RSI) which has fallen below 30, placing SHIB in the oversold zone. These indicators reflect a negative market sentiment and suggest that investors are currently more inclined towards selling SHIB tokens.

The launch of Shibarium’s mainnet had the potential to act as a catalyst for a potential price rally in SHIB tokens. However, the prevailing uncertainty surrounding the release of Shibarium has added to the bearish sentiment and may have a negative impact on the value of SHIB. 

As traders and investors await more clarity on the launch date, it remains to be seen how the market will respond to the anticipated event.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Getty Images