Shiba Inu Cofounder Clears The Air On Rumored Token For Shibarium Layer 2 Blockchain

In a recent update that took place over the weekend, Shytoshi Kusama, cofounder of the popular Shiba Inu meme token, has expressed concerns about rumored claims pertaining to an official token for the Shibarium layer 2 blockchain.

Timeline of Shiba-inu

Shiba Inu Coin News: Shiba Inu, the second largest meme crypto, registered a mild recovery as Bitcoin (BTC) price spiked last week. However, it is expected that SHIB price might see a surge as Binance, world's largest crypto exchange decides to upgrade its listing.

In a significant milestone for the Shiba Inu (SHIB) token, Binance has announced its decision to move SHIB, along with Frax Share (FXS), Trust Wallet Token (TWT), and 1inch (1INCH) out of the Innovation Zone on April 18, 2023.

Shytoshi Kusama, the project lead of Shiba Inu (CRYPTO: SHIB), on Sunday, teased the release of ShibaSwap 2.0 in a Telegram message. What Happened: The lead developer in a Telegram post said, "ShibaSwap 2.0 is coming.

Shiba Inu (CRYPTO: SHIB), a widely followed cryptocurrency, spiked Sunday morning, creating a stir in an otherwise quiet weekend on the crypto front. What Happened: Shiba Inu, which is named after the namesake Japanese hunting dog, ended Friday's session at $0.00001097 and traded Saturday in the $0.00001092-$0.00001121 range before settling at $0.00001111.

In the crypto space, it is not uncommon for investors to be in it for the long haul. But with the Shiba Inu token (SHIB), the number of long-term holders has reached an unprecedented level.

Shibarium, the layer 2 blockchain meant to solve the SHIB token's host chain Ethereum's problems, particularly low speed and high transaction cost, is seeing an early rise in acceptance as users investigate and test its features on testnet “puppynet.

Shiba Inu lead games consultant William Volk on Twitter shared an image of Shiba Inu dogs on LEASH. He wrote alongside the tweet, "It must be a sign" while tagging SHIB and Shiba Eternity.

The Shiba Inu (SHIB) network has witnessed a significant decrease in circulating supply, with almost 250 million tokens recently removed from circulation. This comes after a recent report from U.Today revealing that over 1.1 billion tokens have been destroyed on the network, marking one of the largest burn events in the past few months.

Despite the broader crypto market occasionally registering gains, Shiba Inu has been in a consolidation phase over the past month. However, some analysts believe this period could be coming to an end, with a breakout on the horizon for the asset.

Shiba Inu, the popular meme-inspired token, continues to trade at a steady range, despite major activity in the market over the past two weeks. As of this writing, Shiba Inu (SHIB) is valued at a price of $0.00001123, tallying a 3.4% increase in the past two weeks, according to data from CoinGecko.