BONE And SHIB In The Red Despite Shibarium’s Launch Announcement

While the crypto market is currently in a bewildered state following regulatory scrutiny, updates concerning upcoming catalysts are still ongoing. Earlier today, Shiba Inu lead developer Shytoshi Kusama gave a potential hint on the launch of the Shibarium layer-2 blockchain. 

Kusama hinted that the much anticipated Shiba Inu network could launch as soon as before May. This has brought speculation veering back to the rumor of Shibarium being launched on February 14, Valentine’s day which is today. 

Shibarium To Launch Before May 

The updated hint which is to be launched before May was initially disclosed to a member of the Shiba Inu (SHIB) community.  A Shiba Inu influencer named Lucie shared a screenshot of a conversation between Kusama and a person. The chat read, “Maybe he is releasing Shiabrium tomorrow {February 14},” Kusama replied jokingly “Maybe.” And added, “just kidding it’ll be out before May lol.”

This potential hint has now increased excitement among the SHIB community knowing well that their most anticipated catalyst which could move the price of SHIB significantly is somewhere around the corner. 

Meanwhile, Kusama has urged the community to be more sympathetic and read the room as one of the Shiba Inu’s developers Kaal Dhairya, recently lost his father. Kusama noted, “How about this? Right now, Kaal is mourning his father. Let’s worry about that first.” He added, “please stop worrying about May, enjoy your Valentine’s day.”

BONE And SHIB Plummet Despite Shibarium Hinted Launch Date

Despite the potential hint given by Kusama, the tokens backing the soon-to-be-launched layer 2 networks are still very much in the red along with other altcoins in the market. Over the past 7 days, Shiba Inu has been in a bearish trend plummeting from a high of $0.00001571 seen early this month to a lower low of $0.00001169 as of last week. 

Though SHIB started the year positively with some bullish moves, the token is currently struggling with shorters over the past few days especially following the frightening regulatory news bothering the general crypto market. Meanwhile, the chart has indicated an upcoming bullish move as a double bottom which could lead to a reversal to the upside has been spotted. 

BONE on the other hand is not so distinct from the recent SHIB move. Over the past 7 days, BONE has plummeted in value by more than 20%. The token has slumped to a lower low of $1.3 in the early hours of February 14 after being almost close to crossing the $2 mark earlier this month.

Looking at BONE’s 1-day chart, the token could also be gearing for a bullish move as it is closer to taking all needed liquidity at the downside. At the time of writing, BONE is currently down 1.9% in the last 24 hours with a trading price of $1.36.