Despite the positive news, SHIB is down 2% on the day. Shiba Inu lead developer Shytosi Kusama recently announced that Shibarium, the L2 scale solution for the Shiba Inu blockchain, is working well.
The announcement follows tests and fine-tuning that mark a landmark for the Shiba Inu project. In this blog, Shytoshi Kusama emphasized that even before the official announcement, Shibarium already had more than 65,000 wallets and processed 350 transactions. This L2 hosted some fun, unusual and sometimes even offensive characters suitable for multiple platforms. Kusama praised Shiba Inu’s decision to branch out from Polygon and realize the new Shibarium project. Additionally, Kusama mentioned the process of extracting certain tokens, emphasizing that the process takes varying lengths of time, from 45 minutes to 3 hours to 7 days, especially for the BONE token.
The much-anticipated launch experienced major technical issues at the beginning of the month, causing SHIB’s price to collapse, erasing weeks of positive pricing. Additionally, Shibarium suffered from a number of critical FUD attacks.
Regardless, Kusama encouraged the community to focus on long-term goals rather than short-term market fluctuations. Ryoshi noted, “Those who build in bear markets win in bulls.”
The positive news about the launch of L2 certainly did not affect the primary original identity of the Shiba Inu. SHIB is down more than 2% in the last 24 hours and is below $0.000008.
