Shiba Inu: Shytoshi Locks Shibarium’s Telegram, Here’s Why

Paigambar Mohan Raj
Source: Coinpedia

Shiba Inu (SHIB) lead developer Shytoshi Kusama has locked the Shibarium telegram channel. Kusama said that the group would be reopened after all documents were released. The Shibarium Telegram will only post official messages until it is open to the public.

It is possible that Shiba Inu’s Shibarium Telegram channel was bombarded with queries regarding the launch. Perhaps the questioning got to a point where it became difficult to manage. However, locking up the Telegram channel until the documents are released must mean that the papers for Shibarium will be out very soon.

However, the SHIB team is yet to give a launch date for the upcoming layer-2. In a separate discussion, the SHIB developer did say that Shibarium will be out before May. Nonetheless, the launch has had numerous delays so far. It was initially supposed to take place in Q3 of 2022 before being pushed to Q4 and eventually to early 2023.

Read More: Shiba Inu Lead Developer Tweets “Invitation” for Shibarium

How is Shiba Inu’s Shibarium gas token, BONE, doing?

Shibarium is set to utilize SHIB’s offspring token, BONE, as gas. Although the news about BONE being the gas token in the new network has led to more adoption, its performance has faded lately. However, earlier this month, BONE surged by over 45% in just a few days, reaching a 5-month high of $1.95. Furthermore, the cryptocurrency markets enjoyed a fresh rally on Thursday but have dipped again today. BONE has fallen by 7.2% in the last 24 hours.

According to IntoTheBlock, BONE’s network growth has increased by 1.58%, which is bullish. Additionally, concentration also points to a bullish front. Per the platform’s signals, BONE is currently in a neutral position. Furthermore, 82% of BONE holders are in the money. Only 10% are at losses, and the rest are break even.

However, the Shiba Inu offspring is taking a beating socially. According to LunarCrush, BONE’s social mentions have fallen by 17.26%. Meanwhile, social engagements have dropped by 28.99%. This is not good news for the project, as Shiba Inu and its offsprings rely on social media for growth and adoption.

Source: LunarCrush

At press time, BONE was trading at $1.46, down 0.3% in the last hour.