The world is waiting for Shibarium, the marveled second-layer solution that is supposed to be the killer application for Shiba Inu (SHIB). Alas, the community and investors are still kept waiting with no release date being published so far. Once more rumors are going wild on social media and the “Shib army” is pushing the narrative that we are going to witness another bull run on the shoulders of Shibarium.

What is the current status of Shibarium and why is it a good idea to be patient?

Is the beta status ready?

According to a message from Shytoshi Kusama, one of the lead developers, Shibarium is more than ready. It appears that one of his team members had a tragic event and needs time to mourn. He does not want to put any pressure on that team member until his co-worker is back in the saddle. However, Shytoshi promised to release Shibarium and shed more light on its features in the days to come.

This public statement has once again caused wild speculation and enthusiasm about Shiba Inu. The SHIB token is not exactly rallying at the time of writing and still ranges below its yearly high. One reason might be that this isn’t the first time that Shibarium was teased in public. It remains to be seen if the hype about the details can drive the price up.

The burn rate is decreasing

Another important stat is the so-called burn rate. SHIB holders can choose to send their tokens to a burning portal and “destroy” their tokens. The idea behind this is to reduce the enormous supply and make Shiba Inu scarce. Recently, the burn rate has been decreasing.

Of course, scarcity alone won’t drive the price up but with more use cases for SHIB, the demand could hypothetically create the much-needed buying pressure to get things started. Please keep in mind that this is only a widely discussed theory and not financial advice in any way. This theory is also the reason why the community is pumped about Shibarium, waiting for the use-case provided by the second-layer solution.

It remains to be seen if Shibarium becomes the most teased project in 2023 or if the developers will deliver soon. While a beta phase will provide valuable insights for investors on how Shibarium works the final release can take even longer.