Despite the highly anticipated launch of Shibarium, the Shiba Inu community has been left questioning why the token remains in the red zone.
Lucie, a marketing expert in the Shiba Inu team, took to Twitter to address the concerns raised by SHIB holders. She explained that the current price performance cannot be solely attributed to the developer team, as other factors come into play.
Lucie pointed to the anxieties surrounding the upcoming Bitcoin halving as the main reason for the market’s cautious stance. The uncertainty of how the halving will impact the overall crypto landscape has led to a period of market stagnation.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Read Also: Shiba Inu Whale Transactions Jump 25%, Fueling Bullish Sentiment for SHIB Price Growth
Lucie mentioned that during the summer, bearish sentiments may prevail, but as autumn and winter approach, positive developments will emerge like fireworks, igniting a bullish sentiment.
Additionally, Lucie assured the community that Shibarium, the highly anticipated mainnet launch scheduled after August 16, is not a mere pump-and-dump scheme. She emphasized its solid technological foundation, projecting significant long-term growth potential.
“Why no moon?!”
Dev do something 😵💫Crypto prices tend to chill out around a year before a halving event because everyone's like, "Hmm, what's gonna happen? 🤔
During that summer, things may get a bit bearish, and folks might feel a bit down.
But don't worry! As we roll into… pic.twitter.com/SPcb0vR0it
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) July 20, 2023
The Bitcoin halving, which takes place every four years, has brought similar market conditions in the past. This year, DASH has already experienced its halving, and Litecoin is set to follow suit on August 2, reducing miners’ rewards by 50%.
In the realm of Shibarium, the beta version’s Puppyscan explorer on Puppynet has achieved a new milestone. Within the last three days, the total count of transactions has surpassed the 31 million mark, with a peak of nearly 280,000 transactions on July 11. The number of linked wallet addresses has seen a marginal increase, remaining at around 17 million. The total count of produced blocks stands at 1.77 million.
At the time of press, SHIB is trading at $0.000007692, with a relatively 1% price downtrend in the past 24 hours, according to CoinMarketCap.
Read Also: Likelihood Of Shibarium Burning 5 Trillion Shiba Inu (SHIB) Monthly: Expert Offers Insight
Shibarium’s Potential Unleashed
Despite current market conditions, the integration of Shibarium on the Shiba Inu network continues to hold promise. The significant milestone achieved on the beta version demonstrates the utility and transaction volume potential of Shibarium.
With the mainnet launch nearing completion, the community eagerly anticipates the unleashing of Shibarium’s power. As its solid tech foundation fuels optimism, the potential for long-term growth remains strong, providing a glimmer of hope for SHIB holders in the midst of the current market fluctuations.
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