Summary of Shiba Inu News: Shibarium Public Beta Will Be Launching This Week
• An upcoming meme coin ecosystem, Shiba Inu (SHIB), is expecting the launch of the Shibarium layer 2 (L2) scaling solution in the next few days.
• The launch of the Shibarium layer 2 scaling solution will significantly expedite the token burn process and diversify from relying on mere speculation to real-world utility.
• The announcement has been warmly welcomed by the Shibarmy, with over 9.5k likes and about 3.5k retweets as of reporting time.
Shiba Inu Ecosystem Expects Launch of Layer 2 Scaling Solution
The fast-developing meme coin ecosystem based on the Ethereum network, Shiba Inu (SHIB), is expecting the launch of its layer 2 (L2) scaling solution in the next few days. According to an announcement from Shiba Inu’s official Twitter account, the Public Beta launch for Shibarium is set to happen before week ends. The news was met with overwhelming enthusiasm amongst the members of „Shibarmy“, with over 9.5K likes and 3.5K retweets as of now.
Impact on SHIB Token Price & Utility
The launch of Shibarium L2 scaling solution will have a positive effect on SHIB token price as it will enable several decentralized applications (Dapps). Additionally, it will also make sure that more investors are attracted towards this meme coin due to its increased utility value rather than just depending upon speculation for its growth.
Cautionary Note Against Scams
Lead developer for Shiba Inu project – Shytoshi Kusama – recently made an announcement regarding a new website and intake system for Shibarium beta version launch but warned investors against getting scammed while using tokens during testing phase. It was suggested that all tokens used during beta testing must only be used for testing purpose only and not to be taken as actual investments or trades in cryptocurrency markets yet.
YTD Performance & Market Capitalization
A look at YTD performance metrics suggests that both SHIB and BONE tokens obtained bullish sentiments since start of 2021 but past 4 weeks have seen choppy trends for most digital assets including Bitcoin & Ethereum prices which affected overall market capitalization too. As per latest crypto price oracle reports, SHIB token has added approximately 33% YDT but has declined 24% in last 4 weeks to trade around $0 mark currently