Developer Hints That Shibarium Could Be Delayed: SHIB Still Jumps

• The developer earlier hinted at Valentine’s day launch but deleted the message. 
• Atomic Wallet announced support for Shibarium. 
• SHIB rose by 11.55%.

Enthusiastic fans of Shiba Inu (SHIB) have been waiting, holding their breath, for the launch of the much-awaited Layer 2 protocol, Shibarium. Though they were taunted many times with a launch soon, the latest news suggests that it might be delayed even more. 

The latest activities of the lead developer Sytoshi Kusuma on Twitter hinted at the delay, which was later deleted. His Twitter account is the lead source for news regarding the protocol and the Shiba Inu ecosystem. 

Kusuma had previously posted in the account’s bio a message that reads, “… put Shibarium in a heart-shaped box with a bow.” People decoded it to hint that the protocol would be launched on February 14, 2023, Valentine’s Day. However, the place which hinted at this is now empty, as the message has been deleted. Whether this action will be considered a step closer to the launch or further delay is debatable. 

Even though team Shibarium is teasing the fans, other protocols have also been working on the launch of their Layer 2 protocols. Atomic wallets, a base of approximately five million users, has announced their support for Shibarium by also providing the possibility to exchange SHIB with other tokens from the Shiba Inu app ecosystem directly inside the app. 

Although the Shibarium launch is getting delayed, the buzz created around its possible launch and its effect on the price action is somehow driving the price further. At the time of writing, SHIB was trading at $0.000001403 with a jump of 11.55%, while its value against Bitcoin was at 0.000000000601 BTC, also jumping by 11.76%. The market value of the Dogecoin competitor was high by 11.54% and was at $7.7 billion, while its volume massively increased by 79.21% to $1.1 billion in the last 24 hours. Standing strong at rank 13, it shares a market dominance of 0.71%. 

The current trading rate was 84.14%, down from its all-time high of $0.00008845 achieved on October 28, 2021, while surprisingly up by 17180897.72% from its all-time low of $0.000000000082 SHIB hit on September 1, 2020. 

The weekly chart of SHIB shows a slight upward movement, moving toward the supply zone. The zone is guarded by R1 at $0.00003014 and R2 at $0.00003505. The price would respect the last high of $0.00001892 and consolidate between the current point and it before breaking the line and moving north, again consolidating for some time before approaching the supply zone. 

The current rate is quite close to the lower levels, and if it goes southward again, it would consolidate above the demand zone and could present a buying opportunity for the traders. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

Latest posts by Steve Anderrson (see all)