Why Shiba Iu’s Price is Declining Before Shibarium Launch

Shiba Inu Coin News – The global digital asset market has declined in the past week due heightened fear among investors. The most affected meme tokens have been the recent drawdown. The prices of the largest memecoins, such as Dogecoin (DOGE-1.60%), Shiba Inu(SHIB-3.79%) and Bone ShibaSwap/BONE (-8.12%), are trading lower. The SHIB Ecosystem tokens are feeling the most heat despite all the hype surrounding Shibarium’s launch.
Shiba Inu Prices Fall: What’s Wrong with That?
The second largest cryptocurrency meme coin, Shiba Inu Coin, is actively controlled and managed by whales. Although Shiba Inu is often called “dogecoin killer”, its price has been falling. The meme coin has fallen more than 11% in seven days, as Shibarium’s official launch date continues to evade.


The dying excitement around Shibarium could be one of the main reasons the price fell. SHIB Army is growing impatient every day as Shytoshi Kusama, the lead developer of Shiba Inu is trying to downplay the situation. Coingape reported that Shythoshi Kusama stated that he cannot guarantee any information regarding the Shibarium release dates because “it doesn’t happen by the switch.”
SHIB Profitability Plummets
The drop in price has had an impact on Shiba Inu’s profitability. According to CoinMarketCap data, SHIB Price was hovering around $0.00001236 at the time of writing. It had a daily trading volume of $261.960,955. Over 3% has fallen in the last 24 hours for the 13th-ranked token.

BONE fell 8.12% to $1.34. The impending launch the Layer 2 Shibarium beta is the reason for the price drop. BONE, the native token that will be used to pay for gas transactions as well as reward validators within this protocol, is what you already know.
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Also read: Shibarium Release Date Shiba Inu Developer Drops Hint
Disclaimer: This article contains only the author’s opinion. It is not intended to be used as investment advice. Anyone considering investing in crypto assets should seek independent financial and professional advice.

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The content presented may contain the author’s personal opinion and is subject to market conditions. Before investing in cryptocurrency, do your market research. The publication or the author are not responsible for any financial loss.

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