HomeNewsShibarium's Launch Delay Sparks Concern as Shiba Inu Faces Value Drops

Shibarium’s Launch Delay Sparks Concern as Shiba Inu Faces Value Drops

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  • The awaited layer-2 solution, Shibarium, has not yet been launched despite expectations, leading to concerns about the dwindling price of Shiba Inu.
  • The lack of updates regarding Shibarium’s launch and recent SHIB price drops may lead to an all-time low investor sentiment, further driving down the cryptocurrency’s price.

Shiba Inu investors keenly anticipate the launch of Shibarium, a much-touted layer-2 solution expected to enable token burns and facilitate SHIB transactions with reduced gas fees. However, a noticeable lack of progress towards the launch of this network has stoked concerns among investors, especially in light of recent volatility in the SHIB token price.

Over the past weekend, the SHIB token saw a significant dip, falling from $0.000008 to $0.000005. This precipitous drop was followed by a robust recovery, with SHIB surging 37% to regain the $0.000007 levels. Despite this upswing, the prolonged Shibarium delay continues to dampen investor sentiment, casting a cloud over SHIB’s future prospects.

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Earlier this year, the SHIB token added an extra zero to its indices and appears to be on a steady downward trajectory as initial market hype subsides. Investors’ unease is exacerbated by the absence of updates from the Shiba Inu team concerning Shibarium’s progress. Although the testnet has been launched, the mainnet release remains nebulous.

The firm behind the development of Shibarium, Unification, last posted an update in May, hinting at substantial behind-the-scenes progress. However, no further details have been forthcoming. This information drought has resulted in a schism between the development team and investors, hindering SHIB’s rally potential.

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If 2023 passes without a Shibarium launch or further updates, the consequences for SHIB’s valuation could be dire. Another market downturn or crash could drive SHIB back to its recent low of $0.000005, and investor sentiment could plummet to record lows. This downturn could exert further downward pressure on SHIB’s price.

In summary, the timely launch of Shibarium is of vital importance to prevent SHIB from adding a sixth ‘zero’ to its value. As it stands, the token is already down a staggering 91% from its all-time high of $0.00008616. Delays in Shibarium’s release could therefore exact a significant toll on the beleaguered cryptocurrency.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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