There is growing excitement around the Shiba Inu ecosystem. The launch of Shibarium is fast approaching. How is the community reacting?
What is Shibarium?
Shiba Inu, a widely known dog coin, operates on the Ethereum network. However, its ever-increasing popularity and usability caused the developers of SHIB to decide to address the issues arising from the use of the world’s second largest blockchain Ethereum. Key among them are undoubtedly high transaction fees, which significantly limit the adoption of ERC-20 tokens. The solution for SHIB is to be Shibarium. It will be a Layer two solution that is expected to significantly reduce transfer costs. Along with it, stablecoin SHI is to come into effect as well as the ability to pay transaction fees using BONE. This information at the beginning of 2022 has heated the community that many analysts have suggested that the update of the SHIB network can lead token prices to levels as high as $ 0.01.
Excessive optimism or viable?
As reported by the main developer of Shiba Inu, Shytoshi Kusama, there is no official release date yet but this may appear soon. Unification – the company working on the L2 platform is already in the final stages of building the project.
According to some emerging information, the update will take place in June. More inquisitive community members suggest that it will happen on the eighth day of the coming month.
The Unification Foundation reports on its blog:
“The process for updating mainnet will be the same as testnet, but all validators will be required to perform the update within a certain timeframe.”
In the face of this information, a significant portion of the community seems to be very excited. However, there are voices that are cooling the mood and suggesting that the predictions from earlier in the year are extremely exaggerated.
A jump on the new ATH?
In a recent Twitter poll, as many as 75% of respondents believe that the launch of Shibarium will send SHIB scrambling for a new ATH. Given SHIB’s current valuation, and peak so far, optimists expect an increase of over 600%. In contrast, 25% showed significant skepticism, suggesting that a similar rally is impossible at this point. One of the voices cooling the mood is Darkvidz, for example.
In his words:
“The result will be no different than the listing effect of $Shib on Robinhood, so don’t set your expectations too high or give too much false hope.”