Shiba Inu Price Crash: 4 Days After Shibarium Launch, SHIB Fails to Rise

The Shiba Inu community anticipated a significant price increase for SHIB with the launch of Shibarium, the layer-2 scaling solution. Before the launch of Shibarium, there were raised expectations of a potential surge in the price of the digital token SHIB. Prior to the initial launch, excitement built, fueled by promises of lower transaction fees and faster speeds.

Shibarium Launch Issues Hamper SHIB Price

However, the reality has been far from ideal. Shiba Inu's Shibarium mainnet launch faced major issues with $1.7M worth of Ethereum stuck in the bridge contract. Blockchain security firm PeckShield confirmed that the initial deployment faced significant hurdles, creating uncertainty and negatively impacting investor confidence.

Low Shibarium Participation and Stagnant Growth

After the initial run fueled by the anticipation of the launch, the Shibarium network is dealing with low participation as new account numbers flatline. The new account metric tracks the total number of users engaging with the platform, and its stagnation signals a lack of adoption. SHIB is currently one of the worst-performing assets. The Shiba Inu amp 8217 s highly anticipated Shibarium layer-2 network has failed to impact the asset amp 8217 s price.

What's Next for Shiba Inu (SHIB)?

The failure of SHIB to rise in the days following the Shibarium launch raises questions about the future of the project. While the development team is working to resolve the issues and encourage adoption, the immediate impact on SHIB's price has been undeniably negative. Continued monitoring of Shibarium's progress and its ability to attract users will be crucial for the long-term success of Shiba Inu.