Shiba Inu: Addressing If Shibarium Will Launch in August

Paigambar Mohan Raj
shibarium shiba inu l2
Source: Pixabay

The launch for Shiba Inu’s (SHIB) layer-2, Shibarium, has been pushed back multiple times. The network was initially supposed to debut sometime in 2022. However, technical developmental difficulties moved the date to early 2023. Unfortunately, the team could not have the network ready for an early 2023 launch either.

Earlier this year, Shiba Inu (SHIB) lead developer Shytoshi Kusama revealed that the highly anticipated layer-2 network could launch sometime between June and August 2023. We are already into the second week of July and still do not have an exact launch date. However, a conference event in August might hold clues as to when the launch might happen.

Also Read: Shiba Inu: Investors Explain What They Will Do If SHIB Hits $0.01

Lead developer at Shiba Inu (SHIB), Shytoshi Kusama, recently published a blog on July 6, which mentioned that the team would explore releasing the network at the Blockchain Futurist Conference, which is slated to take place in Canada in August 2023. However, there is no confirmation of the team’s decision yet.

Is Shibarium Shiba Inu’s last hope?

Source: CoinChapter

Shibarium is the only product from SHIB which is of some relevance. The team is also working on a metaverse initiative, but metaverse protocols have taken a back seat in 2023. Moreover, the layer-2 network launch will bring in a lot of real-world use cases for Shiba Inu (SHIB). The launch will mean that SHIB will cease to be an ERC-20 token on the Ethereum network and have its own blockchain.

Therefore, a lot is riding on the Shibarium launch for SHIB. If there are any more delays, it could negatively impact SHIB’s price and investor confidence. Moreover, a majority of SHIB holders are whales. If even some of them begin selling their holdings, it would have severe consequences for the project.

SHIB’s market cap has already plummeted by around 90% since its all-time high, and so has the asset’s price. Hence, the project could do with a win anytime now. At press time, SHIB was trading at $0.00000759, down by 1.6% in the last 24 hours.

Also Read: Shiba Inu Whales Unleash Buying Spree Prior to Shibarium Launch