Shiba Inu Official Clarifies SHIB’s Bearish Performance Despite Upcoming Shibarium Launch

• Marketing expert from the Shiba Inu team responds to questions about the current SHIB price performance
• The expert points to the upcoming Bitcoin halving as the primary reason for the cooling of crypto prices
• Lucie expects positive developments in the autumn and winter months

A marketing expert from the Shiba Inu team has taken to Twitter to address the concerns of SHIB holders regarding the current price performance. @LucieSHIB explained that the recent stagnation in SHIB’s price cannot be attributed to the developer team’s actions at this time.

Instead, Lucie pointed to the upcoming Bitcoin halving as the primary reason for the overall cooling of crypto prices, as market participants are uncertain about the potential impact on BTC miners’ rewards being halved again.

Lucie anticipates that positive developments will emerge during the autumn and winter months, leading to bullish market sentiment and a rise in cryptocurrency prices. Regarding Shibarium, Lucie emphasized that it is a genuine technological advancement, not a pump-and-dump scheme, and has the potential for substantial long-term growth.

Shibarium hits new milestone

The Shibarium beta version, known as Puppynet, has achieved a noteworthy milestone in terms of utility. The Puppyscan explorer reveals that over the past three days, the testnet has witnessed a significant increase in transactions, reaching a total count of 31,070,731 transfers at the time of reporting.

On July 11, the transaction volume reached a peak of 279,814. However, the number of linked wallet addresses has seen a relatively minor increase of one thousand wallets, totaling 17,062,324 addresses. Additionally, the total count of produced blocks stands at 1,766,046. As of now, SHIB is trading at $0.000007737, showing a slight rise of almost 0.7% in the last 24 hours, as per CoinMarketCap data.