The Shiba Inu ecosystem has once again heated up as SHIB fans eagerly await the mainnet debut of the layer 2 scaling protocol Shibarium. Recently, principal creator Shytoshi Kusama posted a mysterious message through SHIB’s official partner that alluded to additional planned developments.
The cryptic statement comes from one made earlier in July on Telegram, where he expressed his need to deliver but also his hesitation to hasten the procedure.
Meanwhile, Shibarium’s long-awaited launch, which was frequently beset by FUDs and delays, finally had a confirmed launch date, ending the long wait. According to a recent entry on his Shibaswap blog, the unnamed lead revealed the information to the public. He stated that the Blockchain Futurist Conference, which will take place in Toronto in August of this year, might be the venue for the scaling protocol’s release.
When the announcement was made, the exuberant SHIB fans, who had been asking “Wen Shibarium?” on nearly every Shiba Inu-related Twitter tweet, went into a tizzy. It needs to be said that Shibarium has been under development for a number of months, and the team’s efforts have already borne fruit with the launch of the testnet known as Puppynet.
Besides that, the revelation has also rekindled interest among investors in SHIB-related coins, including BONE, LEASH, WOOF, and PAW. In fact, the trifecta assets Shib, Bone, and Leash have all seen significant price increases, indicating that the debut of Shibarium is already having an impact on the cryptocurrency market.
Shiba Inu’s Onchain Indicators Say Why The Token’s Future Looks Promising
Earlier in June, Kusama piqued community attention when he proclaimed that he “couldn’t wait” for Shibarium, as the layer-2 solution is expected to be a game-changer for the well-known meme coin project.
However, detractors point out that the price of the Shiba Inu has been declining. But over the previous several weeks, the number of new addresses produced each day for the well-known coin routinely exceeded 2,500.
The most recent analysis from Santiment offered light on one of the leading possibilities for 2021 and explained why the token still had potential despite its subpar market performance. The asset also had one of the highest transaction fees, which was indicative of a spike in interest in this meme coin.
Strong network expansion, the network’s fully realized profit loss, and the decreasing availability of SHIB on exchanges all served as triggers.