Last week, Shiba Inu’s (SHIB) main developer Shytoshi Kusama revealed the link between ‘Shiba Eternity’ and the upcoming Shibarium. The Layer-2 solution is expected to become the cornerstone of the Shiba Inu (SHIB) ecosystem. The upgrade will power ‘SHIB: The Metaverse’, as well as provide more utility for gas fee token Bone ShibaSwap (BONE).
Hmm... 🤔 Can you imagine buying, selling, and trading #ShibaEternity Collectible Cards on the #Shibarium #Blockchain? 👀 Now imagine the gas ⛽️ fees paid in $BONE 🍖 for every transaction! 🔥🔥🔥 Let's Go $SHIB Ecosystem! 🚀🌙🌟
— 𝐋𝖆𝖉𝖞 🔥 𝐂𝖗𝖞𝖕𝖙𝖔 (@_Lady_Crypto_) October 16, 2022
Shibarium This Month?
October 19th, 2022 will see the release of the major core update for xFund, the development company behind Shibarium. According to speculation on Twitter among some members of the SHIB Army, the Shibarium testnet could even come online by as soon as October 26th, 2022.
Rumour : The L2 blockchain #SHIBARIUM is supposed to be launched on October 26. pic.twitter.com/k7Zxsv1sTf
— Enzo Beauvais (@IIGODZILLAIIOFF) October 16, 2022
The launch was initially expected to take place at the end of Q3, and lead developer Shytoshi Kusama took the time to explain the delay on Discord. Tensions quickly rose in the SHIB army as some took issue with the mysterious programmer’s actions, calling for Shytoshi Kusama to step down.
Sponsored
Kusama quickly fired back at the malcontents, remarking: “People say I should step down, and I say they should step up”. Moreover, the lead developer disclosed that building a structure that can truly support the Shiba Inu (SHIB) ecosystem has “proven to be difficult, taxing & dangerous”.
Some more.. pic.twitter.com/s02uc9APKa
— ♛ Lucie Sasínková ♛ (@GossipSHIB) October 9, 2022
Shiba Inu (SHIB) Gets the Nod from Google
Regardless of the discontent, last week proved to be special for the Shiba Army, as Shiba Inu (SHIB) was included in Coinbase’s partnership with Google Cloud. The decision effectively means that large business entities will now be able to make payments in the popular leading meme coins Shiba Inu (SHIB) & its arch nemesis Dogecoin (DOGE), along with other top 20 cryptos.
In spite of the harsh conditions experienced in the crypto market, 12th-ranked cryptocurrency Shiba Inu (SHIB) is priced at $0.00001036 at the time of writing, according to CoinGecko, Indicating mild growth of 1% in the last 24 hours.
In conclusion, Shiba Inu (SHIB) has managed to maintain its price above the crucial $0.00001 support line, even despite the delays to Shibarium. Much of the efforts to stay afloat have come from the SHIB Army itself, which has contributed to burning 50 million of its beloved canine tokens in just the last 24 hours. At the time of publication, the Shiba Inu (SHIB) burn rate is going through the roof, recording a 584.32% daily increase.
In the past 24 hours, there have been a total of 50,802,530 $SHIB tokens burned and 6 transactions. Visit https://t.co/t0eRMnhnPL to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) October 17, 2022
On the Flipside
- Some crypto enthusiasts argue that Shytoshi Kusama would need to burn at least 100 trillion of Shiba Inu’s (SHIB) total supply to make any significant dent in the price of $SHIB.
- The 26th October launch date is based purely on rumor, and has not been confirmed by the Shiba Inu developer team.
Why You Should Care
Shibarium’s launch is expected to have a substantial impact, as Shiba Inu (SHIB) seeks to become the top dog meme coin. Current leader, Dogecoin (DOGE) is also working on a Layer-2 solution, which is estimated for release in early 2023.
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