Shibarium, the highly anticipated layer-2 network of Shiba Inu, is back online after resolving technical challenges. The project’s lead developer, Shytoshi Kusama, announced that Shibarium is currently live but in private mode. The team is prioritizing caution before a public re-release to ensure optimal scaling and functionality. Despite facing issues during its initial launch, including a standstill in block production, the team has made significant progress. They have increased Shibarium’s scaling and capacity by 1,500%. The relaunch of Shibarium is eagerly awaited by Shiba Inu enthusiasts.
The launch and temporary freeze of Shibarium have had a noticeable impact on SHIB’s price dynamics. The price surged to a 4-month high before plummeting sharply. However, SHIB managed to find support and bounce back slightly. With the potential public restart of Shibarium, there is hope for SHIB’s price to soar by 37% and reach its previous peak. However, it will face resistance at various levels, including the 100-day EMA and Fibonacci retracement levels.
In conclusion, Shibarium’s return is a positive development for Shiba Inu, but challenges remain for SHIB’s price to regain its previous high.
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