Shiba Inu (SHIB) Rolls Out Crucial Shibarium Beta Update, SHIB Grows 19%

It’s game time for SHIB as Shibarium Beta is explained in detail by the hardworking developers.

Shiba Inu behind a planet made from blue pixels symbolizing Shibarium.

The developer team behind the extremely popular memecoin Shiba Inu (SHIB) revealed the first steps towards launching Shibarium Beta. The devs penned a 13-minute long read on the official SHIB Token Blog, where they explain the basic concepts of the forthcoming Layer-2 solution “in order to provide clarity to the community.”

In response, the SHIB Army rejoiced in the fact that the long-awaited moment of Shibarium launch was near. As Shibarium is considered a game-changer not just for Shiba Inu’s Ecosystem but for the whole crypto community, social influencer Lucie Sasinkova uttered: “Let the game begin!”

Delegators and Validators for Shibarium Incoming

In the blog post, SHIB’s coders revealed a couple of important concepts. For instance, crypto enthusiasts can soon get a taste of Bone ShibaSwap (BONE) from a $BONE faucet on its private test network portal. The blog post also explains how the enrollment system to become Shibarium’s validators and delegators will work.

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Firstly, becoming a Shibarium delegator is relatively easier, as it requires “staking your tokens on a validator of your choice.” The validators can be unlimited, but the crypto enthusiasts wanting to become delegators are still subject to the amount of available stake on the specific network.

On the other hand, becoming a Shibarium validator can be demanding, as it requires 10,000 of the gas fee token Bone ShibaSwap to be staked, as well as running a node set up by the validator. Ultimately, the validator’s work is “critical for the stability and security of Shibarium.” While there’s a lot more to come in the saga of the phased launch of Shibarium, the team behind SHIB Token reminds us to follow the news on the freshly-made ShibariumNet official Twitter profile.

One of the most watched cryptocurrencies of 2022, Shiba Inu, finally ate another zero in its market price in the early hours of Saturday, 14th January 2023. Moreover, SHIB fetched nearly a billion dollars in its global market capitalization since last week, from $5.23bn 6 to $6.13bn in the last seven days.

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At press time, the mega-popular canine crypto is changing hands at $0.00001050, with 5% gains in the past 24 hours. Ranked #16, SHIB had a nice walk in the green with 19% growth in the last seven days. The monthly perspective looks even sunnier for SHIB, with 28.1% in the green in the last 30 days.

On the Flipside

  • Shibarium, the Layer-2 solution, still has no potential launch date.
  • Despite the developments, the daily SHIB burn rate dropped by 29%.

Why You Should Care

Transitioning into a self-sufficient ecosystem, Shiba Inu’s success can be a cornerstone for crypto adoption.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.