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HomeCrypto NewsShiba InuAre We Seeing Another Shibarium Hint or Just a Fan Creation?

Are We Seeing Another Shibarium Hint or Just a Fan Creation?

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Shiba Inu (SHIB) fans and investors are looking forward to the launch of Shibarium, the project’s layer-2 network. The launch was originally planned for Q3 2022 but was pushed back due to development delays. The initiative, however, is now in beta testing and will be ready for launch very soon.

According to BoneShibaSwap, a Twitter page dedicated to Shiba Inu’s offspring token BONE, there may be another indication that Shibarium is on the way. It turns out that going to the website sends you to the Shibaswap website. According to the Twitter handle, this redirection means that “everything is being prepared.”

Read Also: Shytoshi Kusama, Shiba Inu Lead Developer, Will Reveal His True Identity

However, it is possible that a fan purchased the domain name and directed traffic to the Shibaswap website via DNS. There is no official word on whether the website is legitimate, so fans and users should proceed cautiously.

Regardless, the website does not change the fact that Shiba Inu’s layer 2 launch is fast approaching. According to lead developer Shytoshi Kusama, the launch will not occur until the new year, leading many to believe it will take place in early 2023.

Will Shiba Inu Price Skyrocket Following the Release of Shibarium?

Although many people want SHIB to “moon” when Shibarium is released, there are several factors to consider before that happens. To begin, SHIB’s real-world use cases are quite limited. Only a few businesses accept Shiba Inu as payment, and the project’s gaming venture did not go as well as expected.

Fans and investors have burned many Shiba Inu tokens, but the amount has been small compared to the circulating supply. As a result, the impact on SHIB’s price has been minimal.

Finally, there isn’t much happening to encourage the widespread adoption of SHIB. A few whale wallets still hold the majority of SHIB tokens. SHIB is still the most-held token among the top 5000 Ethereum whales, according to Whalestats. The token’s value would plummet if the few whales sold their SHIB holdings.

Related Article: Shiba Inu Developers Disclose New and Final Step Before Shibarium Beta Launch

Nonetheless, there is a chance that SHIB will “moon” after the Shibarium launch. With the launch, SHIB would have its own network and no longer be an ERC-20 token. Furthermore, it may attract new investors interested in such a project, driving the token’s price up.

SHIB was trading at $0.00000795 at press time, down 0.2% in the previous 24 hours.

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