Shiba Inu traders await Shibarium launch amidst uncertainty.

Shiba Inu (SHIB) enthusiasts and traders are uncertain about the launch date of Shibarium, which they have been eagerly anticipating. Shibarium promises to provide a dedicated ecosystem for SHIB enthusiasts, but despite the excitement surrounding the project, the exact release date of Shibarium remains a mystery, leaving traders and community members eager for more information.

The Shiba Inu community awaits the release of Shibarium’s mainnet, but recent updates have caused uncertainty. LucieSHIB, a prominent promoter of Shiba Inu, initially announced that Shibarium’s highly anticipated 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….

— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) June 9, 2023

Despite the ambiguity surrounding the specific details and timeline 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.

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 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. 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.

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 and a significant decline of 22.4% over the past seven days.

The recent drop in price has caused SHIB to enter a strong bear trend, indicating a significant downward movement. This negative sentiment is further reinforced by the Relative Strength Index (RSI), which has dropped below 30, placing SHIB in the oversold zone. These signals reflect a negative market sentiment and suggest that investors are currently more inclined to sell 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 contributed 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 interpreted as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Getty Images