Shiba Inu (SHIB) enthusiasts and traders are in a state of uncertainty as the eagerly awaited launch date for Shibarium remains uncertain.
With the impending launch of Shibarium, which promises to provide a special ecosystem for SHIB enthusiasts, excitement is high. However, despite the buzz around the project, the exact date for the release of Shibarium remains a mystery, leaving traders and community members eagerly awaiting further information.
When will Shibarium finally make its big debut in the world of Shiba Inu trading?
Shiba Inu traders await the launch of Shibarium
The Shiba Inu community anxiously awaits the release of the Shibarium mainnet, with recent updates leaving many in a state of uncertainty. Prominent Shiba Inu supporter LucieSHIB initially announced that the highly anticipated Shibarium mainnet would launch sometime between the second and third quarter of 2023.
However, the same source has now hinted at a possible delay in the expected launch date, leading to doubts among traders and enthusiasts.
#Shibarium isn't coming this month and there's a high probability it'll come in the next 2-3 months. However, since we've waited so long, we can wait a few more weeks.
In the meantime, let's enjoy the things that are yet to come such as Metaverse teasers or new $SHIB achievements. pic.twitter.com/PAhqpXOuxf
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) 9 June 2023
Although there is uncertainty over the exact timing of the mainnet launch, significant progress has been observed in the Shibarium testnet. This progress is clearly evident in the information gathered through the Puppynet scanner, which provides insights into the steady and continuous development of the testnet.
Despite the uncertainty surrounding the specific details and timeline for the mainnet launch, the Shibarium testnet has been actively developing and making notable progress. The information gathered through the Puppynet scanner serves as a reliable source of evidence, demonstrating the continuous progress being made in the testnet environment.
Shibarium: A snapshot
Shibarium is an upcoming and highly anticipated layer-2 blockchain solution for Shiba Inu, aimed at addressing Ethereum's slow transaction speed. Its purpose is to lay the foundation for building the Shiba Inu ecosystem, which will encompass a metaverse, a DEX, and blockchain games.
According to the latest report, the testnet recorded an impressive number of transactions, exceeding 19.4 million. Moreover, there are currently over 16.7 million wallet addresses and more than 1.2 million blocks in the testnet.
These numbers demonstrate the active engagement and growing interest within the Shiba Inu community, despite the ongoing uncertainty surrounding the official launch date of Shibarium.
Shiba Inu (SHIB) price drops
Shiba Inu (SHIB) is currently trading at a price of $0.00000662, as reported by CoinGecko. However, the cryptocurrency has seen a decline of 1.7% in the last 24 hours. This downward trend is even more pronounced when looking at the last seven days, as SHIB has seen a significant drop of 22.4%.
The recent price drop has pushed SHIB into a strong downward trend, indicating a clear bearish 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 to sell SHIB tokens.
The launch of the Shibarium mainnet could act as a catalyst for a potential price increase in SHIB tokens. However, the prevailing uncertainty surrounding the release of Shibarium has reinforced the pessimistic sentiment and could have a negative impact on the value of SHIB.
As traders and investors wait for more clarity on the launch date, it remains to be seen how the market will react to the anticipated event.
(The content of this website is not to be taken as investment advice. Investing carries risks. Your capital is at risk when investing.)
Selected image from Getty Images.
