Shiba Inu (SHIB) wants to take the stage again with Shibarium, a new platform that supports token burning. The new dates for Shibarium, which should be released in 2022, are as follows…
SHIB price awaits these developments to revive
The second largest meme token has managed to generate anticipation for the launch of Shibarium. At the moment every development from Shibarium has an impact on the price. However, technically, it failed to reflect the excitement among investors. Experts suggest that Shibarium has recorded impressive growth for SHIB. cryptocoin.comAs we reported, Shibarium’s beta version is expected to make its debut on Valentine’s Day, February 14, 2023.
Shiba Inu, like all altcoins, has had a tough year. However, the hype about the launch of Shibarium led the SHIB price to a much-needed price recovery since January 1, 2023. Emotions have improved a lot as the crypto market cap exceeds the crucial $1 trillion.
Data provided by CMC shows that the price of Shiba Inu has increased by around 15% over the past 30 days. SHIB is trading on average around $0.00001180 at the time of writing. 24-hour trading volume increased 63% to $324 million.
Shibarium is a Layer 2 Blockchain protocol running on Ethereum. This decentralized network is designed to power the Shiba Inu ecosystem and its related services, allowing developers to create and expand existing Blockchain networks. It will also support SHIB token relatives in every transaction. The network, which has passed the testnet stage in the past days, is expected to be published on the mainnet in the near future.
Why is the Shiba Inu soaring? How effective was Shibarium?
One of the reasons behind Shiba Inu’s recent price surge is that the meme token was recently listed on South Korea’s top crypto exchange by trading volume. However, we can list the roles that Shibarium plays in this run with a few examples:
- SHIB token burn: Shiba Inu’s lead developer, Shytoshi Kusama, stated that one of Shibarium’s goals is to burn trillions of tokens. The statement caused a stir among the SHIB community because token burning has a direct impact on price as it shrinks supply.
- This token will now support coining efforts on Shibarium. Shibarium recently received support from Atomic Wallet, a cryptocurrency wallet service provider.
We're going to support @ShibariumNet in Atomic! 🍖The Layer2 Network will be running by @Shibtoken for #ShibArmy pic.twitter.com/s2F8O4gkUI
— Atomic – Crypto Wallet (@AtomicWallet) January 26, 2023
Artificial Intelligence predicted these levels for SHIB in February
As for price predictions, PricePredictions, a machine learning system, expects the Shiba Inu to trade in the same range next month. Right now all anticipation in SHIB price action is dependent on Shibarium.
