- On February 14, a lead developer of Shiba Inu Shytoshi Kusama announced that the Shibarium project is ready for launch.
- In the announcement, Kusama disclosed that his lead developer has sadly lost his father, and expressed his disappointment in the lack of respect shown to him.
The much-anticipated beta version of Shibarium is all set to be released and has triggered a huge interest in the SHIB token among investors. Shibarium is a blockchain or layer 2 solution proposed by Ryoshi, the creator of Shiba Inu. According to reports, SHIB would migrate to L2 after the launch. In a now-deleted blog post, the SHIB creator stated:
The line between an L2 and own blockchain is thin, I mean what is the difference really between Matic L2 and BSC?
On February 14, the lead developer of Shiba Inu Shytoshi Kusama announced that the Shibarium project is ready for launch. In the announcement, Kusama disclosed that his lead developer has sadly lost his father, and expressed his disappointment in the lack of respect shown to him. According to him, the community should allow him to mourn his father in peace and then join the launch of Shibarium. For now, he plans to publish a medium article to introduce the project to the world.
Saying here what I just said in the main TG chat (overrun by fudders and Shadowcats). Go enjoy Vday. Tomorrow my 1st of a series of mediums introducing the world to Shibarium will be released. The bow fit nicely, but I’m not releasing anything until @kaaldhairya is done mourning.
— Shytoshi™ (@ShytoshiKusama) February 14, 2023
Members of the ecosystem predicted that Shibarium would be launched on Valentine’s day, however, others also expressed concern about the use of the word “soon” by the team rather than being specific on an actual date.
In response, Kusama stated:
You want an exact date? No… I don’t have one because the release won’t be an on/off switch.
This made some users believe that the launch on valentine’s day was unlikely.
SHIB becomes hot cake among whales
Speaking on the situation surrounding the release, Kusama mentions that he has been targeted by a coordinated FUD (fear, uncertainty, and doubt) campaign. However, he claims to overcome it and not reveal any evidence as he knows who is behind it. According to him, there will be no chance for anyone to destroy what has been built in the name of the community. A community to discuss the project has also been created and is available for all to join.
This announcement is expected to have a considerable effect on the price as whales reportedly keep adding up to their portfolio. In July 2022, someone bought about 150 billion SHIBs in response to the Shibarium announcement.
BlueWhale0159 bought 150 billion SHIB at a total cost of $1,750,500 on 22 July at exactly 05:31:50 UTC, WhaleStat reports. A noticeable thing is the little transaction fee of $1.00 for the SHIB worth over $1, 700, 000 the whale purchased. As a fact, the wallet of BlueWhale0159 is ranked number 315 ETH holding globally.
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The SHIB token is very popular among Ethereum whales, with someone purchasing 4 trillion SHIB at $134 million in December 2021. In January 2022, another Ethereum whale purchased 500 billion SHIB at a total cost of $10.2 million.
Shiba Inu is currently trading at $0.000013 and has reacted to the news with a 4 percent increase in the last 24 hours. The current SHIB sentiment is bullish, and it is expected to surge even more. The possibility of the price hitting $0.01 is high in the long term.
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