SHIB Price Explosion Hangs On As Shiba Inu’s Shibarium Relaunch Proves To Be ‘Game-Changer Factor’

After a shaky start to life, Shiba Inu’s Shibarium is inching toward a relaunch with developers introducing new measures to handle soaring demand levels.

Users can finally withdraw tokens from the Shibarium bridge weeks after the launch’s initial fanfare died down due to technical flaws that left millions of dollars stuck on the network.

According to the lead developer, Shytoshi Kusama, the layer two scaling solution has undergone two days of intensive testing and is “now enhanced and optimized” for a public rollout. Kusama revealed via a blog post that despite being in testing, Shibarium is still producing blocks.

Shibarium is Shiba Inu’s attempt at scaling that will use the project’s native SHIB tokens for fees, with initial reports hinting at multiple use cases in decentralized finance (DeFi), metaverse, and gaming.

After over a year in the works, the project was rolled out last week but faced a series of roadblocks that dampened the optimism of enthusiasts. Early users reported stalled transactions with claims of funds locked on a bridge as SHIB’s values plummeted by double-digits in under 24 hours.

At the time, Shiba Inu’s developers shot down claims of issues with a bridge, blaming the issues on server congestion due to a spike in transaction volumes. Developers restricted access to the public and set to work to prepare for a relaunch with a keen focus on solving and preventing the congestion problem.

“Moreover, we have enabled a new monitoring system and additional fail-safes, including rate limiting at the RPC level and auto server reset in case we get a huge level of traffic again,” said Kusama.

He added that additional validators will be live to allow community members to stake their BONE tokens before another launch attempt. There are also plans to begin experimentation with the Shibpaper to solidify the project’s claim of decentralization.

“Speaking of our society, tomorrow we will start implementing the ShibPaper so that within this year, we can have more than just a framework, but a working system for governance and management that proves our perpetual decentralized digital nation-state is real and here to change the world,” said Kusama.

Taking swipes at FUD mongers

Shibarium’s botched launch brought a barrage of criticisms to the network, with a majority of comments revolving around the impossibility of the project to shed its meme tag.

In his response, Kusama remarked that the end goal of the criticisms is to convince SHIB holders to sell their tokens “so they can get you to buy their crappy (ruggable) product instead. He cited the relaunch of Shibarium and the release of a comprehensive decentralization plan as proof that the project is inching toward becoming an industry leader.

“I don’t know what the next fund will be, but I look forward to disproving it through hard work and dedication to our ethos, ecosystem, and state,” he added.