Shibarium launch date delayed as SHIB retests resistance

YEREVAN (CoinChapter.com) – Shiba Inu(SHIB) layer-2 solution Shibarium was planned to launch on Valentine’s day. However, the Shiba Inu coin head developer, the pseudonymous Shytoshi Kusama, posted a telegram message explaining the Shibarium launch date delay.

Shytoshi appalled at the “Sheer disrespect” about Shibarium launch date delay

Shytoshi was apparently badgered by the Shib community, which has waited impatiently for Shibarium news for months now. The developer noted that they were appalled by the “sheer disrespect,” as one of the lead developers had lost his father in the days leading up to the planned launch, and the community “knew about it.”

Also read: Shiba Inu price drops 15% despite Shibarium launch hype and record number of holders.

Shytoshi also noted that they “couldn’t wait” to show the beta, as the Shibarium release date was already here. As mentioned, “Shibarium is coming soon” messages were circulating the web for months. However, the lead developer noted that Shibarium is ready now. Once the team member has enough time to grieve, Shibarium will launch.

“Not soon. TOMORROW IS THE FIRST. TODAY GOT RY TO GET A KISS OR SOMETHING,” said Shytoshi.

In detail, Shibarium is a layer 2 network that is planned to pump the scalability for the blockchain and ensure faster transactions at a lower cost. In the latest update, Shiba Inu representatives asserted that the delay in the Shibarium release date is not an issue as long as the Network functions properly, and that’s what they choose to focus on at this point.

Meanwhile, the SHIB token stalled near a crucial resistance, threatening another decline.

Shiba Inu coin price at crucial resistance

Shiba Inu’s SHIB coin price stood at $0.00001289 on Feb 15, after a 7% uptick in the previous 48 hours. However, the detailed four-hour chart showed that SHIB price action recoiled from a resistance line significant since May 2022.

Naturally, if the Shibarium release date comes soon enough, SHIB buying pressure could increase, pushing the price higher. However, as of Feb 15, the trading volumes in the four-hour chart did not register an uptick.

If the Shiba Inu token price declines, SHIB could drop to 0.00001248, hitting a confluence of support, as shown in the chart above.

Also read: Shiba Inu Coin Price at 30% weekly jump as Shibarium Launch Date pinned on Valentine’s day.