The Shiba Inu recovers but BONE struggles after the Shibarium release ring

  • SHIB and BONE suffered a decline after news of Shibarium Series ID came out.
  • However, SHIB has recovered while BONE continues to suffer after plans for a new beta portage emerge.

After initial concerns were expressed about the chain, the Shiba Inu Shibarium test net, also known as puppy net, was caught without any issue. With what appears to be a clarification, it appears that the tokens are also headed for redemption from the FUD surrounding them.

Read the Shiba Inu (SHIB) 2023-24 price forecast

the origin

There was some dissension in the Shiba Inu community earlier this week after Shibarium made its debut. A community member noticed that the Layer 2 (L2) network was using the string ID for an unrelated project. Due to the lack of immediate action, these concerns had a detrimental effect on the price movement of SHIB and BONE.

R&D processing at Shiba Inu

One of the main Shiba Inu developers addressed the series ID confusion when concerns were raised and the attendant Fear, Uncertainty and Doubt (FUD) that came with it.

Cal Diriya He said in a tweet that the chains chosen to deploy the alpha network were randomly selected. According to him, the strings were not checked before final commissioning but were not registered on any projects when they were selected.

He went on to announce the intended implementation of a new version of the beta network with a new string identifier.

Shiba Inu Shibarium status and active SHIB address

A scan of the L2 test network using puppyscan showed increased activities. With an average block time of 5.0 seconds at the time of writing, it has generated over 400,000. In addition, it has already executed more than 2,500 transactions and has more than 2,500 wallets registered on the network.

An increase in Shiba Inu (SHIB) titles has also been seen in the lead-up to Shibarium’s launch, as measured by Santiment’s active address stats.

At the time of writing, there are approximately 31,000 active SHIB addresses, which indicates that it has maintained its previous level of success.

Source: feeling

Shiba Inu (Sheep) and Bone Revival?

The daily time frame chart for March 15th revealed that the FUD surrounding Shiba Inu (Sheep) was clearly visible. SHIB lost 7.45% of its value on March 15, when news of the Chain ID chainarium broke.

But it quickly recovered the next day and increased in value by more than 6% at the time of writing.

SHIB/USD daily time frame price action

Source: TradingView

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However, BONE’s price development was not as favorable as SHIB’s. It only recovered once, on March 17, when it rose 11% to end the trading day at $1.33.

Except for March 17, it has been down since March 15. At the time of writing, it was trading at around $1.31, down over 1%.

Shiba Inu Bone / Dollar

Source: TradingView

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