{"id":336650,"date":"2023-08-19T04:00:46","date_gmt":"2023-08-18T22:30:46","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=336650"},"modified":"2023-08-18T16:13:01","modified_gmt":"2023-08-18T10:43:01","slug":"shiba-inu-why-shibariums-launch-failed-to-turn-things-around","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/shiba-inu-why-shibariums-launch-failed-to-turn-things-around\/","title":{"rendered":"Shiba Inu: Why Shibarium&#8217;s launch failed to turn things around"},"content":{"rendered":"<ul>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Shibarium witnessed a massive number of transactions after its launch.<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">SHIB, BONE, and LEASH have not done well since Shibarium&#8217;s launch.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">After months of waiting,<\/span> <span style=\"font-weight: 400;\">Shiba Inu\u2019s [SHIB]<\/span><span style=\"font-weight: 400;\"> much-hyped Shibarium was launched on 16 August. <\/span><span style=\"font-weight: 400;\">However, the launch did not go as expected, as SHIB\u2019s price dropped sharply. In fact, Shibarium\u2019s hype was not reflected on the memecoin\u2019s chart even a day after its launch.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read<\/span> <a href=\"http:\/\/ambcrypto.com\/predictions\/shiba-inu-price-prediction\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Shiba Inu\u2019s [SHIB] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<h4><strong>Shibarium launch did not go as planned<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">The Ethereum [ETH] Layer-2 (L2) solution was unveiled following the testnet&#8217;s launch several months ago. <\/span><a href=\"http:\/\/ambcrypto.com\/shiba-inus-much-awaited-shibarium-gets-off-to-a-rocky-start\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">Shibarium&#8217;s<\/span><\/a> USP lies in the fact that it<span style=\"font-weight: 400;\"> uses a new consensus mechanism called Proof-of-Participation (PoP), which selects validators based on their cryptocurrency holdings. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, soon after its launch, rumors started circulating regarding issues with the bridge, causing technical difficulties. But the team soon posted a <a href=\"https:\/\/blog.shib.io\/shibarium-insane-influx\/\" target=\"_blank\" rel=\"noopener\">blog<\/a>, putting an end to the rumors. It affirmed that the issues were a result of the massive influx of transactions and users around the time when Shibarium went live. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, the increased number of transactions did not affect Shiba Inu\u2019s price. Over the last week, the token\u2019s price dropped by more than 15%. In fact, in just the last 24 hours, SHIB\u2019s value plummeted by over 7%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At press time, it was<\/span> <a href=\"https:\/\/coinmarketcap.com\/currencies\/shiba-inu\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">trading<\/span><\/a><span style=\"font-weight: 400;\"> at $0.000008434 with a market capitalization of more than $4 billion.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per<\/span> <a href=\"https:\/\/cryptoquant.com\/asset\/shib\/summary\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CryptoQuant<\/span><\/a><span style=\"font-weight: 400;\">,<\/span> <span style=\"font-weight: 400;\">SHIB<\/span><span style=\"font-weight: 400;\">\u2019s net deposits on exchanges were high compared to the last seven-day average, suggesting it was under selling pressure. Moreover, Shiba Inu\u2019s trading volume increased while its price dropped. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, whales were still interested in SHIB at press time, as it remained the<\/span> <a href=\"https:\/\/www.whalestats.com\/analysis-of-the-top-100-eth-wallets\/historicalMetric?metricName=mostTransactedERC20Holding\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">most-traded token<\/span><\/a><span style=\"font-weight: 400;\"> among the top 100 ETH whales in the last 24 hours.\u00a0<\/span><\/p>\n<figure id=\"attachment_336651\" aria-describedby=\"caption-attachment-336651\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023.png\"><img decoding=\"async\" class=\"wp-image-336651 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-14.58.46-18-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-336651\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check the<\/span><a href=\"http:\/\/ambcrypto.com\/calculator\/shiba-inu-profit-calculator\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">Shiba Inu Profit Calculator<\/span><\/a><span style=\"font-weight: 400;\">\u00a0\u00a0\u00a0<\/span><\/p>\n<hr \/>\n<h4><strong>The Shiba Inu ecosystem is underperforming<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Tokens like<\/span> <span style=\"font-weight: 400;\">Bone ShibaSwap [BONE]<\/span><span style=\"font-weight: 400;\"> and<\/span> <span style=\"font-weight: 400;\">Doge Killer [LEASH]<\/span><span style=\"font-weight: 400;\"> have suffered since the launch of Shibarium as well. As per <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/bone-shibaswap\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, BONE\u2019s price declined by over 27% last week. LEASH\u2019s fate was also similar, as its price plummeted by over 20%. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The launch did help boost BONE\u2019s popularity, however, as evident from the rise in its social volume. Regardless, the dip in BONE\u2019s weighted sentiment of late revealed that negative sentiment around the token dominated the market.\u00a0<\/span><\/p>\n<figure id=\"attachment_336652\" aria-describedby=\"caption-attachment-336652\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023.png\"><img decoding=\"async\" class=\"wp-image-336652 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/Bone-ShibaSwap-BONE-15.30.39-18-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-336652\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Shibarium&#8217;s launch, though highly anticipated, did not bode well for the Shiba Inu ecosystem, as prices of SHIB, BONE, and LEASH have continued to fall.\u00a0<\/p>\n","protected":false},"author":75,"featured_media":336653,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,4,20],"tags":[3372],"class_list":["post-336650","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-social","category-trading-view","tag-leash"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.5 (Yoast SEO v28.5) - 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