Shiba Inu likely to launch Shibarium layer-2 in July
- 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
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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investor purchased 13 billion SHIB from the Crypto.com exchange, while 1.5 billion more were scooped up from KuCoin and withdrawn to a cold wallet.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.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
