Shibarium relaunch fails to budge $SHIB from Sideways Trading — Golden Inu’s 25% surge Dominated the week

The much-anticipated relaunch of Shibarium, the layer 2 blockchain network of Shiba Inu, has failed to jolt the token out of its persistent sideways trading pattern.

Despite promises of resolved issues from developers, Shiba Inu ($SHIB) token continues to hover around $0.00000837, struggling to gain upward momentum.

Shibarium’s first attempt at launch on August 18th faced significant hurdles. At the time, the blockchain saw several transaction processing problems that led to user concerns about disappearing assets.

The network had to be temporarily halted, and developers worked diligently to address the issues and implement updates. Shytoshi Kusama, a developer on the project, openly acknowledged the mistakes and explained the challenges faced in recovering assets transferred from other blockchains.

Furthermore, the latest attempt at relaunching Shibarium arrived on Monday, the 28th, accompanied by promises of a smoother experience and enhanced capacity to handle transaction volumes. However, investors and traders remained cautious, leading to the cryptocurrency maintaining its sideways trajectory it had throughout the month.

The Chief Developer of Shiba Inu assured that measures had been taken to prevent future overload issues, including the introduction of a new monitoring .

Golden Inu up 25% In the Week

Meanwhile, another memecoin, Golden Inu (GOLDEN), has been making waves in the market.

The $GOLDEN token [ERC-20], has experienced an impressive 24.75% surge over the past week. This surge comes only days after it was listed on several crypto platforms, including CoinGecko.

With several hints from upcoming new listings on the world’s most popular crypto listing platform, CoinMarketCap, anticipations regarding a growth even bigger than the current 25% are filling GOLDEN holders with hope.

Golden Inu has also revealed exciting developments within its eco. The project is on the cusp of launching the beta version of its Play-to-Earn (P2E) game, Golden Inuverse.

This release marks the start of the project’s token-burning mechanism known as the Golden Treasury. Under this mechanism, 50% of the total revenue generated from Golden Inu’s decentralized applications (dApps) will be allocated towards purchasing and burning $GOLDEN tokens circulating in the market.

This strategic move creates a deflationary environment for the $GOLDEN token to thrive, aiming to foster a prosperous eco for Golden Inu.

As Shiba Inu struggles to break free from its sideways movement, Golden Inu’s positive momentum and innovative strategies appear to be capturing the attention of investors and driving its growth in a dynamic crypto landscape. Time will tell whether Shibarium’s reinvigoration can eventually uplift the fortunes of Shiba Inu in a similar manner.

Though Golden Inu requires a 7% slippage to purchase on Uniswap, it’s still currently a better investment than its rival and 30% of the market according to professionals like — Investor Observer.