Will the launch of Shibarium in Q3 cause the price of the Shiba Inu (SHIB) to rise above $0.00001?

News Desk5
3 Min Read

Story Highlights

  • The most awaited, Shibarium is expected to be launched in the next few months that may induce a significant bullish momentum within the crypto.
  • The price which has been following a steep descending trend for quite a long time is expected to rise above the bearish trend and reclaim the lost levels above the crucial resistance.

The crypto markets are plunging down! Bitcoin price is closer to dropping below $26,000! Altcoins also face bearish heat! 

Amid the wave of uncertainty, a popular meme-coin, Shiba Inu, whose price is sliding down, displays the possibility of a bullish rebound. In a recent update, the much-awaited layer-2 platform for Shiba Inu, Shibarium, is believed to have come closer to its launch. According to the project’s lead developer, it is all set to be released in July or somewhere in Q3. 

The marketing specialist of Shiba Inu, Lucie Sasnikova, said in a Twitter post that Q3 could be the tentative date for the launch of the layer-2 platform. 

The lead developer also prompted the creator’s words about the launch, which was anticipated somewhere in July. Hence, it is said that there may be no delays in the development phase. 

The ShibaArmy, which is eagerly waiting for the launch of Shibarium, its testnet marked a new milestone with 11 million successful transactions for more than 15 million wallet addresses. Despite this, the SHIB price continues to hover within the same descending consolidation, failing to reclaim levels above $0.000009. 

The SHIB price is trading within a descending triangle and is currently heading toward the apex. Although the price received a significant push in the past few days, the bears quickly dominated the rally and are trying to drag the price close to the lower support levels below $0.000007. 

While, the RSI is plunging and the MACD is not displaying any major move, Shiba Inu (SHIB) price may maintain a bearish consolidation until any bullish event kicks up. This may happen with the launch of the layer-2 solution Shibarium, which is expected to launch somewhere around July 2023.

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