- Shiba Inu price declined 23% over the past week amidst the crypto market bloodbath.
- Shiba Inu’s Layer 2 scaling solution Shibarium’s launch will potentially be delayed.
- The launch of Shibarium is highly anticipated in the crypto community and considered a bullish catalyst for the meme coin.
Shiba Inu holders’ woes increase as the community speculates delay in the launch of Layer 2 scaling solution Shibarium. Over the past week, in response to the US Securities & Exchange Commission’s (SEC) crackdown on cryptocurrencies, Shiba Inu price wiped out 23% of its value.
Shibarium’s launch was slated to occur in Q2 or Q3 of 2023, however the community now anticipates a delay in the timeline.
Shiba Inu’s Layer 2 scaling solution launch likely delayed
The SHIB holder community has anticipated the launch of the scaling solution Shibarium since 2022. With the recent events, it is likely that SHIB holders will witness a potential delay in the launch of the Layer 2 scaling solution.
@LucieSHIB, Shiba Inu’s content marketing specialist informed her 83,800 followers on Twitter that Shibarium will not be launched this month. Moreover, there is no confirmation of a launch within the next two or three months.
Lucie argues that the community can likely wait for a few more weeks after the long wait. The marketing executive recommended that users focus on the upcoming metaverse teasers and other achievements in the Shiba Inu ecosystem.
#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.— (@LucieSHIB) June 9, 2023
Meanwhile, let's enjoy the things that will come before, such as Metaverse teasers or new $SHIB achievements.… pic.twitter.com/PAhqpXOuxf
Shiba Inu holders experience selling pressure, await bullish catalyst for recovery
Shiba Inu holders have experienced intense selling pressure from the recent altcoin sell-off, driving the meme coin’s price 92.30% below its all-time high of $0.00008616. Shibarium launch is considered a likely bullish catalyst for the ecosystem’s tokens, therefore a delay in launch fuels a bearish thesis for Shiba Inu.
The meme coin is likely to nosedive further in the absence of a bullish catalyst 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.