We are far, very far from the expected effect for the Shibarium. Normally, the advent of Shiba Inu Layer 2 ETH Blockchain should give wings to the SHIB. But what is happening now breaks the hope of several crypto investors. What can be done to remedy this situation? The Shiba community has found a solution apparently.
Shibarium, a failure?
On August 16, the Shiba Inu team was able to activate the Shibarium after several months of waiting. As a reminder, Shibarium is layer 2 ETH, or secondary layer of the Ethereum blockchain. Its particularity lies in its ability to support several transactions.
When it comes to Shibarium, this undercoat developed by Shiba Inu is supposed to set up an ecosystem at a lower cost. And at the same time, she will propel the SHIB to the moonthe 1 cent.
However, as soon as it was deployed on the mainnet, Shibarium disillusioned the crypto community. First, there was this story of connection failure authorizing the blocking of nearly 2 million in ETH on the bridge.
As for the bull run SHIB, still no hope: the 2e memecoin continues to tumble. A 22.5% drop has been reported in 7 days for the Shiba Inu. At the time of writing, America’s favorite crypto was trading at 0.00000790 a coin.
Total silence among SHIB whales
The situation will not improve anytime soon for the Shiba Inu cryptocurrency. Indeed, analysts have found a SHIB whale hibernation.
At the moment, we are advancing a very low amount of transactions made by institutional crypto investors in SHIB. If the statistics showed 120 similar transactions before, the current figures speak of 20 activities of Shiba Inu whales only.
CoinTurk News think that ” this decrease in whale activity is interpreted as a double-edged sword “. Why is that ? Because :
- on the one hand, it bears witness to a lack of confidence of institutional investorsand as a corollary, an indication of price instability;
- and on the other, it favors a more decentralized distribution of SHIB cryptocurrencies, favoring the reduction of the impact of sales in large quantities on its price.
Burning has always worked!
Shytoshi Kusama’s team has already warned SHIB investors that the Shibarium will not directly impact the price of the memecoin. Bull run rhymes with burnnot a secondary blockchain layer like the Shibarum.
Although explicit, these explanations did not prevent the ShibArmy from dreaming ofa SHIB at $0.001 when announcing the advent of Shibarium.
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