- Shiba Inu layer-2 Shibairum’s tentative launch date was revealed by a marketing specialist on Wednesday.
- SHIB holders have long anticipated the launch of the scaling solution as it is considered a bullish catalyst for ecosystem tokens.
- According to lead developer Shytoshi Kusama, Shibarium will be released in July if there are no development delays.
Shiba Inu’s layer-2 scaling solution Shibarium is likely to be released in July or Q3, according to recent comments from the project’s lead developer.
Shibarium’s launch is expected to drive the utility and adoption of ecosystem tokens Shiba Inu (SHIB), Bone Shibaswap (BONE) and Doge Killer (LEASH), which are part of Shiba Inu’s ecosystem
Also read: Elon Musk warns traders against “betting the farm” on his favorite cryptocurrency Dogecoin
Shiba Inu’s Shibarium likely to be launched in Q3
Shiba Inu community members are waiting for the launch of Shibarium, the ecosystem’s layer-2 scaling solution. Shibarium’s testnet Puppynet recently hit a new milestone, with 11 million successful transactions for more than 15 million wallet addresses.
Shibarium’s significanton-chain growth fueled a bullish thesis among whales, with 40 billion SHIB tokens scooped up by large wallet investors, setting a fresh record.
In a 60-minute time period on Wednesday, several big transactions were identified by crypto intelligence tracker Etherscan. Nearly 6.4 billion Shiba Inu tokens were transferred in only six transactions.
A large wallet investor purchased 13 billion SHIB from the Crypto.com exchange, while 1.5 billion more were scooped up from KuCoin and withdrawn to a cold wallet.
SHIB transfers on Etherscan
Just as Shibarium’s transaction volume milestone fueled a bullish thesis among SHIB holders, the launch date release is also expected to drive a recovery in sentiment among community members.
Shibarium mainnet ready to be rolled out soon
Shiba Inu’s marketing specialist Lucie Sasnikova said on Twitter that Q3 is the tentative date for the layer-2 launch. The SHIB executive reminded holders that Shytoshi Kusama, the lead developer, has previously said the release is expected in July in case there are no delays in the development phase.
Yesterday, @shibarium_ guessed that the launch of the mainnet would be in August, while my guess is for Q3 and @ShytoshiKusama guessed July.
— (@LucieSHIB) May 24, 2023
Shiba team is confident about the launch and have multiple teams working on it, including AI integration.
Our estimate is for 2023, and…
Shiba Inu is trading at $0.00000854 at the time of writing.The meme coin has seen a 3% price correction over the past week. The upcoming launch of Shibarium mainnet and its recent milestone are expected to fuel a thesis for SHIB price recovery in the short term.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Arbitrum’s ARB price rallies after Chainlink CCIP mainnet launch
The protocol’s arrival on Arbitrum is key to the further development and growth in the ARB ecosystem as it is expected to improve the user experience and attract developers.
BTC downside likely after 20-week EMA culls bulls
Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.
FTX fights to clawback $157 million from former employees while creditors struggle with $7.9 billion in claims
FTX exchange has sued former employees of Salameda, a Hong Kong based entity affiliated with the trading platform. The court filing shows that the bankrupt exchange seeks to recover $157.3 million from Salameda employees.
First Ethereum futures ETF expecting approval by October 2
The first Ethereum futures ETF (exchange-traded fund) is likely to be approved on October 2, according to crypto hedge funder Hal Press. The North Rock Digital founder’s thesis is based on the recent events in the crypto ecosystem.
Bitcoin: BTC downside likely after 20-week EMA culls bulls
Bitcoin (BTC) bearish price fractal, as discussed in a previous article, is underway, but the lack of volatility is causing ambiguity and doubt. Regardless, BTC might see a bit of an upside before the long-term bearish scenario plays out.