Shiba Inu’s Shibarium Officially Live But SHIB Price Suffers

Shiba Inu’s Shibarium Officially Live But SHIB Price Suffers

Shytosi Kusama, the lead developer at Shiba Inu, has recently proclaimed that Shibarium, an L2 scaling solution from the Shiba Inu blockchain, is live and operating well.

The announcement follows a series of trials and fine-tuning, marking a spring landmark for the Shiba Inu project.

  • In this blog post, Shytoshi Kusama emphasized that even before the official announcement, Shibarium had already boasted over 65k wallets and processed 350 transactions.
  • This L2 has hosted a number of fun, unusual, and sometimes even offensive tokens, providing several platforms.
  • Kusama hailed Shiba Inu’s decision to fork Polygon and bring the new Shibarium project to a thriving fruition.
  • Moreover, Kusama mentioned a withdrawal process for a couple of tokens, highlighting that the process takes different durations ranging from 45 minutes to 3 hours to 7 days, specifically for the BONE token.
  • The highly anticipated launch suffered from major technical difficulties earlier in the month, leading to a SHIB price plummeting, taking away weeks of positive price performance. Furthermore, Shibarium suffered some critical “FUD attacks.”
  • Despite all that, Kusama urged the community to stay focused on long-term goals over short-term market fluctuations.

Ryoshi noted, “Those who build in the bear market will win in the bull market.”

  • The positive news about the launch of the L2 didn’t really affect Shiba Inu’s primary native token. SHIB is down by more than 2% over the past 24 hours and sits below $0.000008.

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