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.
The idea with the new platform is that the community will be able to develop their own projects on their own terms and conditions.
The Jan. 15 announcement on the project's blog noted that Shibarium aims to provide faster transaction times, lower fees, and an expanded development framework for the Shiba Inu Ecosystem.
"This layer aims, as a protocol, to work on top of existing blockchain networks, allowing for faster, cheaper, and more private transactions to be processed off-chain, while still relying on the security of the underlying blockchain," the team wrote in the blog.
According to the developers, Shibarium's protocols are versatile and can be applied to various sectors such as the Metaverse, Web3 innovation, and gaming. Shiba Inu sees the potential for its technology to address some of the scalability and performance issues currently faced by blockchain networks.
As the beta launch approaches, it's worth keeping an eye on the Shiba Inu price and how it might be affected by this new development.
Shiba Inu (SHIB) has been gaining attention in the crypto space due to its recent price movements and developments. In this Shiba Inu price prediction article, we'll take a closer look at the technical indicators of SHIB and analyze its current market performance.
The 20-day EMA for SHIB is currently at $0.00000938, the 50-day EMA at $0.00000915, the
Read more on cryptonews.com
