Shiba Inu’s Shibarium Prepares for Takeoff with Imminent Beta Launch
- The developers of Shibarium have stated that the launch would be accessible to the whole public, Shiba Inu enthusiasts are in for a treat.
- The upcoming release of Shibarium has fueled excitement among Shiba Inu investors, who see it as a significant step forward for the project’s development.
Shiba Inu, a meme-inspired cryptocurrency that was launched in August 2020, has been making waves in the crypto world. In recent news, the Shiba Inu community has been buzzing about the upcoming release of Shibarium, a new blockchain network that aims to revolutionize the way decentralized applications (dApps) are built and used.
As a result, the prices of both Bone ShibaSwap, two projects closely tied to Shiba Inu, have rallied in anticipation of the release. The coin has gained 10% in the past 24 hours, a 600% spike in its trading volume in the same period, and the total market cap increased by 9%.
Shibarium is a layer-2 solution built on the Ethereum network. It aims to solve the scalability and cost issues faced by dApps on Ethereum by providing a faster and more cost-effective alternative.
According to the Shibarium team, the network can handle up to 100,000 transactions per second, which is a significant improvement over Ethereum’s current capacity of around 15 transactions per second.
The release of Shibarium is expected to have a major impact on the Shiba Inu ecosystem. As a layer-2 solution, it will enable faster and cheaper transactions on the ShibaSwap decentralized exchange (DEX), which has seen explosive growth in recent months.
ShibaSwap allows users to trade Shiba Inu and other cryptocurrencies without the need for intermediaries, making it a popular choice for those looking to avoid high fees and slow transaction times on centralized exchanges.
As of writing, BONE is trading at around $4.50, up from around $0.30 just two months ago. Holders have been eagerly anticipating the release of Shibarium, as it is expected to increase demand for the token and its use in governance.
Similarly, the price of Shiba Inu has also rallied in recent weeks, hitting an all-time high of around $0.000038. Shiba Inu has been gaining traction in the crypto community thanks to its meme-inspired branding and the success of ShibaSwap.
The upcoming release of Shibarium has further fueled excitement among Shiba Inu investors, who see it as a significant step forward for the project’s development.
Attention #SHIBARMY 🚨
We're thrilled to announce that #SHIBARIUM Public Beta will be launching THIS WEEK! 🎉
Make sure you’re following our official socials over the next few days as we reveal all the details on how to access the beta website. Hail Shib! #ShibariumBeta 🦴 pic.twitter.com/ZsgEm3AjPH
— Shibarium Network (@ShibariumNet) March 7, 2023
In conclusion, the release of Shibarium is a significant event for the Shiba Inu community, as it promises to solve some of the scalability and cost issues that have plagued Ethereum and other blockchain networks.
As a result, the prices of Bone and Shiba Inu have rallied in anticipation of the release, with investors eagerly anticipating the impact it will have on the Shiba Inu ecosystem. Only time will tell how successful Shibarium will be, but it is clear that the Shiba Inu community is bullish on the project’s potential.