The Shibarium network, that ambitious layer-two scaling solution perched precariously on the Ethereum (ETH) chain and once devoted to the Shiba Inu project, has just received a crushing blow. Yes, on Monday, the Shiba Inu team made the dramatic announcement: they’re officially done with it. Talk about a plot twist, right? 😱
Why Has Shiba Inu Decided to Drop Shibarium Like a Hot Potato?
Apparently, the Shiba Inu ecosystem can no longer tolerate the Shibarium network’s lack of charm. According to the team, it was never meant to be a glorified experiment in centralization. Rather, it should mirror Ryoshi’s grand vision of decentralization, utility, and a healthy dose of fairness for all holders.
The final straw? A recent attack on Shibarium in which a cool 4.6 million tokens were frozen. Because nothing says “centralization” quite like freezing millions of tokens, right? 🤔
In their ever-gracious tone, the Shiba Inu team clarified, “We respect those still clinging to Shibarium, but it’s simply no longer part of our mission. It doesn’t embody the principles Ryoshi set forth – the very ideals of decentralization, utility, and fairness.” How’s that for a polite break-up line? 😬
While the token freeze undoubtedly saved users from total devastation, the Shiba Inu team is firm in their stance: decentralization is their bread and butter. Shibarium? Not so much.
The Market: A Picture of Devastation and Mixed Feelings
Now, as for the market, the news isn’t pretty. Shibarium’s plunge into irrelevance will have repercussions on its dreams of global dominance. According to DeFiLlama, the network’s total value locked (TVL) has plummeted to a mere $1.81 million, year-to-date. Yikes. 🤑
And let’s not forget the rise of the memecoin circus, which has made Shiba Inu a less attractive prospect. The Shiba Inu team’s withdrawal from Shibarium? That’s likely to stall any hopes of mainstream adoption during the much-anticipated altseason. But hey, who needs altseason when you’ve got memes, right? 😆
Meanwhile, SHIB’s price is stuck in a symmetrical triangle, looking as though it’s preparing for a breakout. Will it rise like a phoenix, or just fizzle out? Only time will tell. ⏳
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2025-09-16 02:13