After facing a bumpy start, Shiba Inu’s much-anticipated Shibarium project is preparing for another shot at a successful launch. Despite serving as the backbone infrastructure of the blockchain, Shibarium encountered a setback on August 16, resulting in a sharp drop in SHIB’s price. Since then the lead developers worked day and night to improve the technical glitches and are now ready to reintroduce Shibarium to the public.
A New Development on the Blocks!
In the latest update, Shytoshi Kusama, the lead developer of Shiba Inu (SHIB), officially announced the upcoming relaunch in a recent blog post. With rigorous follow-ups and testing and adjusting parameters over the past two days, the blockchain is back on track. It is very much operational, producing blocks, and poised for a fresh start.
The new network is all set to see many new features including enhanced network reliability, an upgraded monitoring system, and an additional failsafe mechanism. This added mechanism enforces rate limits at the Remote Procedure Call (RPC) level and enables automatic server resets, ensuring smoother operations and responding better even in high traffic.
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To protect the network’s credibility, Kasuma addressed the negativity around the Shiba Inu community, often referred to as FUD (Fear, Uncertainty, and Doubt), Kusama warned the community to stay away from negative emotions that may lead to hasty decisions, such as selling holdings. He assured the investors of the project’s commitment to the principles of decentralization within the Shiba Inu ecosystem.
Interestingly, behind the scene, there was one more development that happened as reported by Whale Alert, there was a massive Shib coin transfer of almost $38.70 million, from one secret wallet to another. This happened in one big transaction about 14 hours ago.
Current Market Status
However, in terms of current market status, SHIB, BONE, and LEASH tokens have seen a slight dip in the past 24 hours. Notably, the rising token lost nearly two billion Shiba Inu (SHIB) tokens from circulation due to an 800% burn rate increase.
The price of SHIB is down by 5%, trading at $0.0000079. Similarly, BONE and LEASH tokens have experienced declines of over 3% and 4%, respectively, during the same period. As Shibarium prepares for its relaunch, the Shiba Inu community remains optimistic about the project’s potential and its future impact on the ecosystem.
Also Read: Shiba Inu Price Analysis: SHIB Price Trendline Stronger Than Bitcoin’s; Will It Trigger A Reversal?
What do you think of Shibarium’s relaunch? Are you optimistic about its future?
