Shiba Inu Spin-off QOM Goes Parabolic, Nearly 10X in a Month

The rise of meme coins has brought forth many other dog-themed altcoins. While Dogecoin is a small subset of the Bitcoin network, through the Litecoin hard fork, other meme coins have been developed on other top blockchains, including Solana.

Timeline of Shiba-inu

Since the beginning of 2023, the entire cryptocurrency market has been performing well, with many digital assets seeing double and triple-digit gains. Shiba Predator (QOM), a spinoff of the popular meme coin Shiba Inu, has been performing impressively in the past 30 days.

Shiba Inu's lead developer, Shytoshi Kusama, published a new blog post today in which he revealed that the beta version of Shibarium will be released after the publication of another blog post about the development of the layer-2 network. Thus, Kusama still doesn't give a specific date, but he does provide further insight into the beta's schedule and pending obstacles.

Shytoshi Kusama, the lead developer of Shiba Inu (SHIB), has unveiled his plans for a Layer-2 solution called Shibarium. In a recent blog post, Kusama discussed his journey toward developing the platform and the challenges he has faced along the way.

Shibu Inu (CRYPTO: SHIB), which has been consolidating since Thursday, has broken out of its recent trading range, thanks to a sharp rally on Sunday morning. What Happened: Shiba Inu, which closed Saturday's session at $0.00001319, moved out of the upper bound of a recent trading range of $0.00001306-$0.00001336 around 9:15 a.m.

Shiba Inu, the prominent meme token, has seen its burn rate stagnate on the network after the token's price reversed from its local high and returned to the price level we saw back in the beginning of February. One of the main reasons behind the drop in network activity and the stagnating burn rate is the lack of drivers for assets like Shiba Inu that are not tied to any trending areas of the crypto industry.

Shibarium News: Since the beginning of February 2023, people have been sitting with their popcorn ready. But recently, social media got filled with rumors that Shytoshi Kusama has confirmed that the Shibarium Public Beta Testnet will be released within a week.

Similar to the majority of major cryptocurrencies, the Shiba Inu coin witnessed a minor correction in early February. This temporary retracement was important for coin holders as it recuperated the exhausted bullish momentum and offered a discount opportunity to sideline traders.

Shiba Inu (SHIB) dipped almost 4% during the trading session in tandem with the crypto sector, as Bitcoin (BTC) temporarily paused its bullish run in the aftermath of the CPI report.

Shiba Inu (SHIB) is gradually clawing back its gains as its price has fallen by 4.25% over the past 24 hours to $0.00001309. This drop is being fueled by the massive slump in the burn rate, which is pegged at 90.69% at the time of writing, per data from Shibburn.com.

The lead developer of Shiba Inu has called on members of all religious groups to come together and embrace Shibarium and all its gifts.  Shiba Inu's Shytoshi Kusama tells why Shibarium is the answer to many oppressive systems restricting real-world growth across the globe.