Can Shiba Inu Still Make A Comeback? Lack Of Update On Shibarium L3 Proves To Be A Problem | Bitcoinist.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure All has been mostly quiet on the Shiba Inu front, and the meme cryptocurrency is currently moving through a tough price phase. Interestingly, the most recent update on the ecosystem is from ecosystem dApp Woofswap, which confirmed early testing of a Shibarium Layer-3 explorer under the ShibClaw initiative but offered no further details on the L3 itself. That lack of clarity is beginning to stand out at a time when the entire Shiba Inu ecosystem needs stronger direction.

Shibarium L3 Development Exists, But Details Are Missing

Woofswap, a Shiba Inu decentralized application, recently confirmed that early testing of a Shibarium Layer-3 explorer is underway under the ShibClaw initiative. However, the announcement came with no indication of when a mainnet launch would take place, and this silence has drawn a visible reaction from within the community.

Related Reading: Shiba Inu Whales Are On The Move Again, But In What Direction?The Woofswap X account recently made a post noting the development of the Shibarium L3, but also added that no further information is available at the moment

Notably, Shibarium’s Layer-3 is no longer just a concept at this point. Early testing is already underway through initiatives like ShibClaw, with developers experimenting with a dedicated L3 explorer and AI-based applications built on top of the Layer-2 Shibarium network.

However, the problem is in what has not been said. Developers have provided little to no information about timelines, technical specifications, or a potential mainnet launch. Even the teams involved, like Woofswap above, have acknowledged that the L3 is still under testing without offering much detail.

At the same time, the Shibarium network itself is undergoing a major backend overhaul. The system has gone through server migration and a full chain re-indexing process over the past month, and explorer synchronization is currently sitting around 45% completion

However, according to Shibizens, the Shibarium-focused X account, the total count of blocks and transactions visible on the explorer reflects only partial data. Actual figures stand at over 14 million blocks and 1.56 billion transactions against the displayed figures of approximately 2.4 million blocks and 168 million transactions.

Can SHIB Still Recover Without Strong Sentiment Support?

Shiba Inu is currently trading at its lowest price range since the 2022 bear market. A large part of this is the lack of inflows into the meme coin niche, but some credit can also be given to the lack of updates and low sentiment surrounding the Shiba Inu ecosystem

Related Reading: Top Meme Coins That Could Still Surge Despite Dogecoin, Shiba Inu DominanceThe bigger issue is how Shibarium L3 ties into Shiba Inu’s ability to stage a price comeback as we saw during the early days of Shibarium’s launch. However, without clear milestones or visible deployment timelines, there is little for traders to anchor their expectations to. At the time of writing, Shiba Inu is trading at $0.000006139.

SHIB trading at $0.0000061 on the 1D chart | Source: SHIBUSDT on Tradingview.comFeatured image from Sketchfab, chart from Tradingview.com Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.