Anticipation Grows for Shibarium
Ever since the beginning of the year 2023, people have been super excited about the Shibarium.
Shibarium is a Layer 2 scaling solution, which is a secondary mechanism built on top of an existing blockchain network. Its purpose is to improve performance and scalability.
This idea was shared by the CEO of Shiba Inu – Ryoshi. After he shared this idea, the co-founder of Shiba Inu – Shytoshi Kusama – has not stopped posting about Shibarium.
This has been invoking curiosity within the masses. Moreover, whales are especially excited about the awaited Shibarium. As per research, due to this hype, it has obtained around 14% during one week.
People have been going around trading the token for an estimated rate of $0.00001312. On the 15th of February, the whales were able to gather approximately 50B of SHIB, or even more.
This was around $600,000 on that day. Although, a week ago these whales got rid of 70B SHIB. This was approximately $956,200. A week ago, investors sold a large number of assets on the larger market.
This resulted in a negative outcome for the crypto world. It can possibly be due to the impact of the unstable economy of the world, especially the U.S.
Positive Macros and Growing Whale Activity
The whales have been particularly interested in SHIB for the past several years. As per data found online, SHIB is witnessed as one of the largest traded cryptos.
Investors have benefited from it a lot. One has even profited through it by gaining approximately $6.8 million. At this point, around 13.7T SHIB, which is approximately $187,600,000, is held by the whale.
This is quite an astounding amount. This could possibly depict that the whales have thought about gaining much more through SHIB. Also, they are ready to gamble as long as it is benefitting them.
This was made public after people went through the monthly CPI report. Even the US government has good things to say about the current macroeconomic condition.
This has been witnessed due to people spending more on crypto, which has improved the macro condition. It shows that investors have faith in crypto. This also points to the strengthening actions of the Fed.
Although, it should not be forgotten that the consumer price index is at an increasing rate. This means that the government might increase the rate of interest.
People, especially the Fed, have already talked about this concern. On the 14th of February, Shytoshi tweeted by telling people to enjoy Valentine’s Day and mentioning the release of Shibarium.
The release of Shibarium Upgrade is approaching
Even Kusama has tweeted about the ongoing SHIB news. This is a decentralized blockchain network, founded by Gavin Wood, to secure platforms. Kusama publicly mentioned the much-awaited release of Shibarium.
The blockchain network posted for its Twitter followers regarding the estimated time for the release. Kusama believes that it will be introduced towards the beginning of the month of March.
This was to let people know that it would not be on Valentine’s Day, as the masses were hoping. Kusama sharing the news about Shibarium is a huge deal.
It has been speculated that the day it will be released people will witness a massive shift in prices.
Can Bulls Surpass $0.00001192 Level?
As it is evident, Shibarium’s impetus as of now is put on a halt. This is because of the popularity of Shibarium since its current position is at the rate of $0.000014.
Though if this price level is not altered soon, it can result in negative consequences. There is a possibility that it could limit the goals of SHIB, especially if they have long-term goals.
Although, the clients of cryptocurrency should not lose hope. They should hope and aim for an increased shift in the level of resistance.
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