The Shiba Inu coin and its upcoming blockchain platform, Shibarium, have been making waves in the cryptocurrency world. With over 20 million transactions since the launch of the test network, or “puppy net,” and nearly 17 million wallets, the Shiba Inu ecosystem is growing at an impressive pace.
Shibarium, the dedicated blockchain for Shiba Inu, is expected to bring significant improvements to the ecosystem. The development team is reportedly using the data from the puppy net to refine and enhance Shibarium, ensuring it meets the needs of the community and the demands of the market.
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Show more +However, the timing of Shibarium’s release has sparked some debate. Given the current market conditions, which have been less than favorable for altcoins, some have questioned whether it would be wise to launch Shibarium now. If the goal is to generate excitement and hype within the community, releasing a major update during a market downturn might not have the desired effect.
This raises an interesting question: If you were a developer and Shibarium was ready for launch, would you release it now or wait for more favorable market conditions? While this is purely hypothetical, it’s a question worth considering. After all, the impact of a new release can be significantly influenced by the state of the market at the time of launch.
Despite the current market conditions, the developers have indicated that they are aiming for a July or August release for Shibarium. This gives the market some time to recover and could potentially lead to a more positive reception for the new platform.
How does the latest Shibarium achievement affect SHIB’s price?
Despite the significant strides made by Shibarium, Shiba Inu’s dedicated blockchain platform, the broader market sentiment towards SHIB, the native token, has remained largely unaffected. The memecoin has seen a noticeable decrease in its social volume, indicating a waning popularity among the crypto community.
Over the past week, there has been a discernible increase in negative sentiment surrounding SHIB. This shift in public opinion is reflected in the token’s weighted sentiment, which has taken a downturn.
Source: TradingView
The price performance of SHIB has also had a significant impact on its standing among large-scale investors, commonly known as whales. According to data from Whalestats, SHIB was the most traded token among the top 100 Ethereum whales in the last 24 hours. However, when it comes to new acquisitions, SHIB has slipped down the ranks, currently sitting at the 12th position on the list of cryptocurrencies purchased by these whales.
Conlusion
Shiba Inu coin and Shibarium represent an exciting development in the world of cryptocurrency. As we await the launch of Shibarium, it will be interesting to see how the market conditions evolve and how they impact the reception of this new platform. For now, there are no affect on SHIB’s price by Shibarium achievements.
Regardless of when it launches, Shibarium is set to mark a new chapter in the evolution of the Shiba Inu ecosystem.
