The shiba inu meme token has seen a surge against the US dollar for the past seven days as supporters of the coin anticipate the beta release of the layer two (L2) scaling solution Shibarium. The developers detailed on January 15, 2023 that the L2 platform, “Shibarium beta”, is about to be released on top of the Ethereum blockchain to provide better scalability, faster transaction times, and lower fees.
SHIB Token Market Reacts Positively To Upcoming Shibarium Launch
He shiba inu (SHIB) The meme token community, also known as the “SHIB army”, has become increasingly excited about the release of Shibarium, a new layer two scaling solution designed for the SHIB crypto ecosystem. Hints about Shibarium’s release began last year, as it was originally supposed to release in Q3 2022. In mid-December. 2022, members of the SHIB community hinted that the launch of the project was getting closer every day. On January 15, 2023, the SHIB team published a blog post called “Introduction to Shibarium: Shiba Inu’s Layer 2 Network”.
The blog post insists that “Shibarium beta is about to launch” and outlines what people can expect from the launch. The team emphasizes that Shibarium will be a phased release. The project’s native token, called BONE, will be leveraged to “pay for gas transactions and reward validators and delegators within the Shibarium protocol.” The team also mentions that while there is an offer of 250 million BONE, “20 million has been set aside to reward validators and delegators in the coming years.”
The ERC20 meme token shiba inu (SHIB) has been rising in the Shibarium news for the past week as shib rose 19.3% against the US dollar. In the last 24 hours, BONE is up 11.1% and BONE has gained 16.1% last week. Despite Shibarium’s beta launch, several other meme tokens have seen larger increases like floki (FLOKI), which jumped 26.4% this week.
The let’s go brandon meme token (LETSGO) is up 71.6% over the past seven days, and shibavax (SHIBX) is up 55.9%. Metadoge (METADOGE) is up 41.5% this week and Hoge Finance (HOGE) is up 30.5%. The godfather of meme coins, dogecoin (DOGE), has seen a modest rise this week, jumping 13.6% against the US dollar. He coin economy memeoverall, it is down as a whole, having lost 3.5% in value over the past 24 hours.
What do you think about the potential impact of Shibarium on the future of the SHIB token economy? Share your thoughts and predictions in the comments below.
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