Shiba Inu Price Strengthening on Upcoming Shibarium Layer 2 Beta Launch

Meme crypto Shiba Inu's price rallied more than most coins in the top 20 over the past week as the team announced that its Layer 2 network, Shibarium, is set to enter beta launch soon. The developers of the project insist that Shibarium has not been designed as a tool to manipulate the Shiba Inu price, but instead as a platform for achieving the vision and mission of their community.

Timeline of Shiba-inu

The Shiba Inu [SHIB] community's expectations for SHIB did not go as planned, as the memecoin's price declined by more than 2% in the last 24 hours, according to CoinMarketCap. At press time, it was trading at $0.00001053, with a market capitalization of over $5.7 billion.

As per an announcement on 16 January, Shiba Inu's [SHIB] would soon launch their own Layer 2 solution, called Shibarium. This move by Shiba Inu is significant for the project as it aims to delve into the layer 2 space and legitimize its cryptocurrency and protocol.

The last two months have been a nightmare for the entire crypto space as the altcoin market experienced its bottom levels since its bull run in 2021. Meme coins like Shiba Inu and Dogecoin have become the headlines as they dropped by 50% of their bullish values.

The internet was taken by storm by the chatbot ChatGPT in December 2022. The technology is relatively new and available to the general public and has convinced many users it is more than just a fad.

The meme token shiba inu has seen a rise against the U.S. dollar during the last seven days as the coin's supporters anticipate the beta launch of the layer two (L2) scaling solution Shibarium. Developers detailed on Jan.

Solana started the week trading near a two-month high, as momentum remained marginally bullish, despite market consolidation. The global cryptocurrency market cap is currently trading 0.98% higher as of writing. Shiba inu also traded close to recent highs, despite declines on Monday.

Key Points: The forthcoming Ethereum-based blockchain will be powered by ecosystem coins shiba inu, leash, and bone. Shibarium, an upcoming layer 2 network, will soon join the ever-growing battle of Ethereum-based blockchains such as Arbitum and Optimism, all of which are attempting to overcome the concerns of scalability, speed, and cost.

The creators of the Shiba Inu token have announced the imminent launch of their Shibarium layer-2 solution. The post Shiba Inu (SHIB) Aims to Become Top Dog With Impending Layer-2 Launch appeared first on BeInCrypto.

Shiba Inu (CRYPTO: SHIB) soared by as much as 6%, outperforming other leading meme cryptocurrencies such as Dogecoin (CRYPTO: DOGE) and Dogelon Mars (CRYPTO: ELON) on Monday. What Happened: Shiba Inu's lead developer Shytoshi Kusama made a post on Shibarium.

Shiba Inu has been making headlines over the past few days since the announcement of the Bugatti Group partnership which seemingly set the price of SHIB on a strong upward trajectory.