All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- A notable figure in the Shib’s Inu community has revealed that the upcoming weeks could be extremely promising for the Shib Ecosystem.
- The Shiba Inu proponent has also expressed optimism about the Shiba ecosystem, stating that a bull rally is underway.
The 4th quarter of 2024 remains crucial for the entire cryptocurrency market. Both Bitcoin and altcoin supporters are expecting a turnaround for the market.
For the Shiba Inu community, the memecoin is expected to at least regain stamina and position itself for a positive run in the following year. Notably, community members are awaiting the launch of the highly anticipated Shibarium mainnet.
Market players have already dubbed the coming weeks as the “Summer of Shibarium”, as they await a response from Shiba Inu developers.
Lucie, a Shiba Inu pepperoni sharing updates on Shiba Inu and the upcoming mainnet launch, has taken to X, formerly known as Twitter, to inform community members about the weeks ahead.
Speaking to her 92,000 followers, Lucie revealed that the Shiba Inu community should keep their eyes peeled for what is coming. Although Lucie didn’t cite any official announcement from Shibarium developers, she expressed confidence in the Shiba Inu Ecosystem, asserting that the community is on the verge of recording a bull rally.
“Hey Shibarmy, exciting news ahead! My gut feeling tells me that the Shiba Ecosystem is gearing up to kickstart the bull run! Let’s stay positive and supportive during this SummerofShibarium, and witness some incredible moments together!” Lucie wrote.
Hey #Shibarmy, exciting news ahead! 🚀
🌟 My gut feeling tells me that the Shiba Ecosystem is gearing up to kickstart the bull run! 🐕💨
Let's stay positive and supportive during this #SummerofShibarium, and witness some incredible moments together! 🌞💫 $BONE $SHIB $LEASH… pic.twitter.com/CYQ7vo7cds
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) August 8, 2023
The post has since been received with collective excitement from community members, all of whom are hopeful that the mainnet rollout takes off sooner than later.
Shiba Inu outperforms major altcoins in the market
Shibarium is expected to go live anytime soon. As previously announced by Shytoshi Kusama, the lead Shiba Inu developer, the Shibarium mainnet will launch right after the Blockchain Futurist Conference in Toronto, which is set to take place on August 15-16, 2023.
Meanwhile, Shiba Inu has continued on a rather bullish path over the past weeks. The memecoin is one of few that have managed to remain in the green zone, despite the constant pushback from the bears. Shiba Inu is also a top gainer in the altcoin market.
Over the past 7- days, Shiba Inu has seen its gains surge by more than 18%. Over the last 24 hours, gains have increased by 9.81%. The memecoin is now trading at a press time price of $0.000009876.
On-chain data is also reflective of collective optimism from market players. According to data from on-chain analytics firm IntoTheBlock, Shiba Inu’s transaction volume has soared by 174.87% in the last 24 hours.
The on-chain platform categorizes these types of transactions as transactions that are above the $100,000 level. Additionally, the metrics serve as a bullish pointer for investors, as it implies that whales are either actively buying or selling large amounts of tokens at this time.
