Shiba Inu Team Teases About Upcoming Shibarium Mainnet Release

• All eyes are on the Blockchain Futurist Conference and ETH hackathon in Canada.
• The Shibarium mainnet launch will likely occur on August 15–16, 2023.

The Shiba Inu team has been hinting at the impending release of the Shibarium mainnet this week at the upcoming event. All eyes are on the Blockchain Futurist Conference and ETH hackathon in Canada.

The SHIB price has been on an upward trend for the previous few days leading up to the release, in contrast to the rest of the cryptocurrency market which has been moving sideways since the announcement of the delay in spot Bitcoin ETF by the U.S SEC.

The official SHIB Twitter account has recently hinted with a “Soon” tweet in reference to the impending Shibarium debut. The Shibarium mainnet launch will likely occur on August 15–16, 2023 during the Blockchain Futurist Conference in Toronto, Canada.

High Volatility Expected

Moreover, on Saturday, the $SHIB burn tracker noted the transfer of 18,702,159 SHIB to a dead wallet. Traders have been waiting for the Shibarium release for quite some time, thus it is unclear how the debut will affect the price of the SHIB token.

Furthermore, new data from IntoTheBlock shows a staggering 1,194% growth in investment from SHIB whales. The present bullish state is highlighted by an uptick over the short-term 50-day SMA.

If the current trend continues, SHIB might face resistance between $0.00000908 and $0.00001280. A reversal in trend, on the other hand, might send prices down below $0.00000774 and $0.00000708 to the support levels.

According to CMC, the price of SHIB is $0.000011 USD with a 24-hour trading volume of $659,775,755 USD. Shiba Inu is up 2.56% in the last 24 hours.

Highlighted Crypto News Today:

Curve Finance To Compensate Funds Lost in Recent DeFi Attack