- Shiba Inu price declined 23% over the past week amidst the crypto market bloodbath.
- Shiba Inu’s Layer 2 scaling solution Shibarium’s launch will potentially be delayed.
- The launch of Shibarium is highly anticipated in the crypto community and considered a bullish catalyst for the meme coin.
Shiba Inu holders’ woes increase as the community speculates delay in the launch of Layer 2 scaling solution Shibarium. Over the past week, in response to the US Securities & Exchange Commission’s (SEC) crackdown on cryptocurrencies, Shiba Inu price wiped out 23% of its value.
Shibarium’s launch was slated to occur in Q2 or Q3 of 2023, however the community now anticipates a delay in the timeline.
Shiba Inu’s Layer 2 scaling solution launch likely delayed
The SHIB holder community has anticipated the launch of the scaling solution Shibarium since 2022. With the recent events, it is likely that SHIB holders will witness a potential delay in the launch of the Layer 2 scaling solution.
@LucieSHIB, Shiba Inu’s content marketing specialist informed her 83,800 followers on Twitter that Shibarium will not be launched this month. Moreover, there is no confirmation of a launch within the next two or three months.
Lucie argues that the community can likely wait for a few more weeks after the long wait. The marketing executive recommended that users focus on the upcoming metaverse teasers and other achievements in the Shiba Inu ecosystem.
#Shibarium is not coming this month, and there’s a BIG MAYBE it will come in the next 2-3 months. However, since we have waited this long, we can wait a few more weeks.
— (@LucieSHIB) June 9, 2023
Shiba Inu holders experience selling pressure, await bullish catalyst for recovery
Shiba Inu holders have experienced intense selling pressure from the recent altcoin sell-off, driving the meme coin’s price 92.30% below its all-time high of $0.00008616. Shibarium launch is considered a likely bullish catalyst for the ecosystem’s tokens, therefore a delay in launch fuels a bearish thesis for Shiba Inu.
The meme coin is likely to nosedive further in the absence of a bullish catalyst in the short term.