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Shibarium has a new website — why is it needed, how has it affected SHIBA, and when does the project finally launch?

Andrew Zhoao

News editor

Feb 27, 2023 at 05:10

Shitoshi Kusama, the main developer of the Layer-2 blockchain Shibarium, presented a new version of the project’s website. It also became known that there are plans to update the Wiki in the near future. We will tell you further how the news affected the value of Shiba Inu and other project-related coins, such as BONE and LEASH, and when Shibarium will finally launch.

Site update and other changes

News about the launch of the new site came from the official blog of the project. According to it, the creation of a new platform is explained by the fact that the developers receive a crazy number of messages from people who want to take part in the work on the project. At the same time, the developers are also ready to get in touch, but it is impossible to accept all requests.

“Either the project was rejected by our defense team, or too much FUD fear, uncertainty and doubt, or there was some issue such as timing, cost, or just getting lost in thousands of messages,” says the post

Now, for convenience, an intake system has been created on the new site. Anyone can apply to work on projects. According to Shitoshi Kusama, they receive emails from anyone who wants to do something for the Shiba Inu ecosystem in one way or another.

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“I’ve met everyone from a [guy] that sold dates (the fruit), to a car salesman, musician, and more. I’ve heard of liquor reps, liquor creators, and hundreds of people who want to collaborate or work with us on Web3, Web4, Metaverse, Shiba Eternity, and more,” he said.

Now, all those people have an opportunity to discuss, request, inform, and let the Shibarium team know exactly what they want to do with the project. According to Shitoshi Kusama, it’ll allow them to meet the SHIBARMY and remain organized in the process.

For even more information, as well as an application form to participate in the project, go here.

How do you want to work with Shiba ecosystem Source Shibariumtech
How do you want to work with Shiba ecosystem? Source: Shibariumtech

As a reminder, Shibarium is the upcoming, long-awaited Level 2 blockchain solution for the Shiba Inu ecosystem, aimed at removing the low speed and high cost of transaction problems on Ethereum. Read more about this project here.

How did the news affect the value of Shiba Inu coins?

The news about the launch of the site hit Google Trends, and it also became one of the most discussed topics on Twitter. At the time of this writing, there were 44.4K tweets on the topic. However, this had almost no effect on the value of the assets being developed in the Shiba Inu ecosystem.

The main token of the project, SHIB, grew only 2,09% from $0.00001243 to $0.00001269. But even such growth is useful for the coin now because, for the last week, it fell by 7,96%. The reason for that was the drop in Bitcoin, which, in turn, went down because of the three most popular U.S. stock indices on Wall Street.

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Another project from the Shiba Inu ecosystem, called BONE, a gas token for the Shibarium, fell by 3,32% over the last day — from $1.901 to $1.84. During the week, the asset rose in value by 8,24%. That became possible thanks to the recent listing on the exchange, Gate.io.

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LEASH tokens grew the most after the news — by 4,13% (from $648.28 to $675.07). During the week, the asset grew by 3,33%. If this is the first time you have heard about LEASH, it is a native token of the ShibaSwap exchange. And the main reason why it costs so much is that there are only 107,647 coins in circulation. And, as you know, the lower the supply, the higher the demand.

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The Shiba Inu team is also now trying to reduce the number of SHIBs in circulation. At the time of this writing, there are 549B of them. But developers are constantly getting rid of them by burning tokens

According to Shiba Inu long-term investor SHIB-EVOBEA, developers will get rid of zeros in asset value year after year by burning SHIBs. Currently, there are four zeros. So, in 2027, the token will allegedly lose all zeros after the decimal point, which means it will break the $1 bar, and in 2028, $10.

The main trigger for the start of the plan, however, should be the launch of Shibarium. 

When will Shibarium be launched?

The project first became known in May 2021. Then Shibarium was announced by the anonymous creator of Shiba Inu Ryoshi in a blog post that has now been deleted.

And, almost two years later, the project will probably see the light of day after all. There are more and more reports about it online. In addition, immediately after the launch of the new site, the project’s Telegram chat room closed, which may indicate the current preparations for big changes.

However, the main reason to believe that Shibarium will be launched soon was posted on the official BONE page. On February 21, the authors of the project made a tweet saying that Shibarium will be launched this week. And if we believe this information, the wait is not long.

What will happen after the launch is anyone’s guess. The price of assets may rise, fall, or not change at all. It all depends on whether users like the implementation of the idea. But SHIBARMY representatives are sure that after the launch of Shibarium, the world of cryptocurrencies will no longer be the same.

“Don’t forget that SHIB once started as a meme coin. Now SHIB is a big name in the crypto world. When Shibarium comes out, the whole world will see what SHIB is capable of,” they say.

What do you think happens with the launch of Shibarium? Share your thoughts in the comments.

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