Shibarium, the highly anticipated layer 2 solution by Shiba Inu, is facing significant delays, leaving investors in a state of uncertainty. Despite initial expectations for a launch between the second and third quarter of 2023, the exact release date remains unknown.
However, Shiba Inu chief developer Shytoshi Kusama released a new video today that may give the community renewed optimism. Alluding to the most frequently asked question of when Shibarium will finally be released, Kusama wrote via Twitter today: “Wen is so last year. The real question is… WHERE?” and shared numerous hashtags: #SHIBARMY #SHIBARIUM #SHIBOSHIS #SHIBAETERNITY #MVSHIB #SHIBACALS #WELLY #UNIFICATION #BADIDEAI #SEEYOUTHERE.
The video features the Shiba Inu logo and a major (American) city. The message of the video is: “Something is coming. Actually we are going somewhere.” Apparently the developers of Shiba Inu are planning a big event, whether it is the launch party for Shibarium is the one million dollar question. At least that’s what Kusama’s words suggest, as it’s apparently no longer a question of when, but where. However, it could just be a Shiba Inu convention or an event to announce something else, so far it’s all speculation.
— Shytoshi Kusama™ (@ShytoshiKusama) June 29, 2023
But the chances are very high that it will be an event that puts Shibarium at the centre of attention. After all, Kusama uses the hashtag Shibarium second, right after #SHIBARMY. Obviously, the entire Shiba Inu community will meet, as Shiboshi NFTs, the collectible card game Shiba Eternity, SHIB The Metaverse, Shibacals, Bad Idea.AI and Shibarium developer Unification are also mentioned in the hashtags.
Shiba Inu Price Remains Flat Despite Announcement
The lack of clarity on Shibarium currently seems to be causing concern among Shiba Inu traders and is affecting the valuation of the SHIB token. Apparently, the delay in the release of Shibarium has had a negative impact on the price of SHIB in recent weeks.
Lately, SHIB experienced a significant decline, falling from $0.000011 to $0.00000591, a level the price last saw on September 09, 2021. Even though SHIB managed a 40% rally, the price failed to break the 23.6% Fibonacci retracement level and the descending trend channel that has been formed since early February.
At press time, Kusama’s teaser video did not generate much hype among SHIB investors. The price remained stuck at $0.00000726, but in position to attack the top of the descending trend channel again. A breakout above the area between $0.000080 and $0.00000833 (23.6% Fibonacci retracement level) is the key resistance at the moment.
Featured image from iStock, chart from TradingView.com