The Shiba Inu crypto community is anticipating the launch of Layer Two (L2) scaling solution Shiberium after it was revealed that the public beta would launch in the third quarter. According to Shiba Inu developers Shiotoshi Kusama and Ryoshi, the layer two solution will significantly reduce transaction fees and possibly zero.
Shiba Inu’s L2 solution Shiberium to launch in Q3
The meme token Shiba Inu (SHIB) has seen a gain of 33.6% against the US Dollar during the past seven days and most of the growth revolved around the Shiberium announcement. Also bought an Ethereum whale 163.2 billion shib Worth approximately $1.74 million during the last 24 hours using today’s SHIB exchange rates. There has been a lot of discussion on the project’s Discord server about Shiberium, an L2 scaling solution. And
In addition, the Unification Foundation, a team of developers behind Shiberium, revealed some updates about the upcoming project. According to the Unification Foundation, Shiberium was launched in a private setting during the alpha testnet phase. The developers explained that the results were successful and that “the primary tool under heavy development is the wallet application.”
Mazar Sadri of the Unification Foundation added:
The Shiberium Public Beta testnet is planned to be deployed in Q3, coinciding with the FUND testnet upgrade that includes the much-anticipated IBC/Gravity/wFUND update. The public beta testnet will allow the parties to fully interact with the network, including the verification process.
SHIB is up 56% against the US dollar year-on-year
While SHIB is up 33.6% during the past week, it is still down by 87.6% from the token seen in October 2021. Despite this, the SHIB token is still up 56% year-on-year. U.S. Dollar. At the time of writing, SHIB holders making money at the current price account for about 23%, according to data from Into the Block. There is a large concentration of whales in SHIB as block metrics indicate that the concentration of large holders of SHIB is about 81%.
SHIB also has a burn strategy that aims to make crypto assets more scarce by allowing people to burn SHIB in the burn portal. While burning helps reduce SHIB supply, there are 589,390,205,650,282 SHIB in circulation today. While the Shiba Inu has increased by over 33% during the past week, it has increased by 10.1% during the last 24 hours.
What do you think about the upcoming Shiberium launch? Let us know what you think about this topic in the comment section below.
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