Shibarium – Shiba Inu’s layer 2 solution finally relaunches and goes live after an initial launch that was marred by technical glitches. The L2 blockchain solution is now fully operational according to an announcement by Shytoshi Kusama on its official website.
In an impressive development, the anticipated scaling of Shibarium has been completed and released following a disappointing previous launch. The relaunch has triggered reactions among the vast and loyal Shiba Inu community.
The project has effectively surmounted its early challenges since its first launch on August 16th, with the network already displaying amazing growth and promise. The prior release of the project was done during the Blockchain Futurist Conference in Toronto, Canada, and was met with lots of mixed reactions.
Shibarium faced some technical errors which were caused by overwhelming user demand post-launch consequently attracting backlash from the general crypto community.
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In a post on X (formerly Twitter), Kaal Dhairya – a notable SHIB developer, compared the Shibarium launch journey to a newborn baby who got “overwhelmed” by too much attention and greetings from family members and should be handled with care.
Shibarium is like a new born baby who got overwhelmed by so many excited family members coming to greet meet them, this time around they're ready but please do handle it with love and care 😉 https://t.co/vbsMtILsBa
— Kaal (@kaaldhairya) August 28, 2023
Shibarium team expresses gratitude
In the blog post, Shytoshi Kusama and his team extended gratitude towards the Polygon team describing how Sandeep Nailwal – the co-founder of Polygon came to his aid after the incident began.
“Quickly after the incident began, I called Sandeep from Polygon directly, and without a second thought, he helped provide additional resources to ensure a perfect outcome to the situation. And that is why our pivot to fork Polygon was the correct one,” he said.
Additionally, he appreciated everyone who “fought the FUD” surrounding the project and ignored all wrong news posted across various media.
Related Reading: Over 700M Shiba Inu Burned in Preparation For Shibarium Launch
Following the announcement, prominent figures in the crypto space joined in the celebration of the rebirth of the project. Notably, JD’s Updates – the founder of PawZone joined in the excitement by stressing that “all great things take time.”
Additionally, Shytoshi encourages the Shib community to monitor the progress of the project and its resources for upcoming developments. He stressed the importance of due diligence before interacting with tokens seen on the Shibarium network
Shiba Inu (SHIB) price reaction
Source: CoinMarketCap
Since the relaunch of the Shibarium project, the impact on the price of Shiba Inu has yet to be seen. According to live data from CoinMarketCap, SHIB is currently trading at $0.0000079. The price is down 1.93% in the last 24 hours. What’s more, Shiba Inu has a 24-hour trading volume of $90,315,524 ($90 million) and a live market cap of $4,685,167,867 ($4 billion). Finally, Shiba Inu (SHIB) is ranked #16 on the CoinMarketCap chart.
Victor Swaezy
Victor Swaezy is a crypto-journalist with more than 3 years of experience in covering blockchain technology and digital currencies news. Known for his comprehensive reporting, Victor has contributed to leading industry publications such as Coinfomania and Crypto News Guru, providing market participants with the required knowledge to make informed decisions. When he is not working, he loves to watch movies and have a good time.