The Shiba Inu price has risen by as much as 20% today, buoyed by the imminent arrival of layer-two network Shibarium. At $0.00001210, it’s currently 15% up in the past 24 hours and by 31% in a week, with the meme token also posting a return of 41% in the last 30 days.
Shibarium is a layer-two network specifically for Shiba Inu, and it’s excited the market precisely becuase its launch will help the Shiba Inu become faster and cheaper. And combined with the long-awaited SHIB: The Metaverse, its arrival promises to make 2023 a very profitable year for SHIB holders.
Shiba Inu Price Pumps 20% to $0.00001262 – Why its Shibarium Layer 2 Launch is Such a Big Deal
SHIB’s chart seems to suggest that the altcoin has gone more or less parabolic, with its relative strength index (purple) about to reach 90. Likewise, its 30-day moving average (red) has turned upwards and is likely to overtake its 200-day average, signalling a breakout to a new longer term level.
As mentioned above, anticipation surrounding the upcoming launch of Shibarium is the main reason for SHIB’s recent gains. According to a January 15 update from developers, the layer-two network for Shiba Inu is “about to be launched” in beta form, implying that it could be a matter of days away.
According to the latest blog on Shibarium, the layer-two solution will run on top of the Ethereum blockchain, which is what SHIB currently uses. Its aim is to provide “the benefits of scalability, faster transaction times, lower fees, and an expanded development framework,” with the network focusing primarily on such areas as the “metaverse, web3 innovation, and gaming.”
Basically, the arrival of Shibarium marks Shiba Inu’s transition away from a gimmicky meme token and towards a more substantial cryptocurrency ecosystem, in which actual projects will be built and will offer genuine utility to users. Accordingly, its approach has got some people excited that SHIB is likely to pump big in the very near future, becoming one of 2023’s best-performing assets.
While community members will always exaggerate the potential of their favored coin, there’s certainly substance to the claim that SHIB is going places. Indeed, from the launch of the ShibaSwap in July 2021, the Shiba Inu ecosystem has been growing steadily, and it may just be the arrival of Shibarium that helps it really take off.
SHIB: The Metaverse
And it’s not only Shibarium, because the hotly awaited Shiba Inu metaverse will likely arrive this year as well. This promises to provide users with a virtual, Shiba Inu-themed world to explore and own, consisting in 100,595 plots of land that will eventually be open to purchase.
According to developers, these plots will be released in phases, with the metaverse’s introductory phase opening up 36,431 plots of land, across four different districts: a growth district, defense district, technology district, and currencies district.
Land owners within the metaverse will also be able to generate passive income from their virtual property and gather in-game resources. On top of this, they will have the opportunity of participating in the metaverse’s community, which is likely to thrive after its launch and as it evolves.
All in all, the combination of SHIB: The Metaverse with the Shibarium and Shiba Inu’s other platforms (e.g. ShibaSwap) could help SHIB rise up the market cap rankings. And with SHIB currently priced at around $0.000012, it could easily rise back up to its current all-time high of $0.00008616, which was set back in October 2021.
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