The developers detailed on January 15, 2023 that the L2 platform, “Shibarium beta“, is about to be launched on top of the Ethereum blockchain to provide better scalability, faster transaction times and lower fees.
SHIB token market reacts positively to upcoming Shibarium launch
The shiba inu (SHIB) site The meme token community, also known as “SHIB Army“The SHIB Army,” is increasingly excited about the launch of Shibarium, a new Level 2 scaling solution designed for the SHIB cryptographic ecosystem. The launch of Shibarium began last year, as it was originally scheduled for the third quarter of 2022. In mid-December 2022, members of the SHIB community hinted that the project launch was getting closer by the day. On January 15, 2023, the SHIB team issued a press release entitled “Introduction to Shibarium: The Shiba Inu Layer 2 Network.“
The blog post insists that “Shibarium beta is about to be launched“and describes what people can expect from the launch. The team emphasizes that Shibarium will be launched in stages. The project’s native token, called BONE, will be used to “pay for gas transactions and reward validators and delegators within the Shibarium protocol.“The team also mentions that, although there is a supply of 250 million BONE,”20 million has been set aside to reward validators and delegates in future years.“
The ERC20 shiba inu meme token (SHIB) has risen in Shibarium news over the past week as SHIB jumped 19.3% against the U.S. dollar. Over the past 24 hours, BONE has risen 11.1% and BONE has gained 16.1% over the past week. Despite the beta launch of Shibarium, a number of other meme tokens saw larger gains, such as floki (FLOKI), which jumped 26.4% this week.
The let’s go meme token brandon (LETSGO) has risen 71.6% in the past seven days, and shibavax (SHIBX) has increased 55.9%. Metadoge (METADOGE) is up 41.5% this week and hoge finance (HOGE) is up 30.5%. The meme currency sponsor, dogecoin (DOGE), saw a moderate rise this week, jumping 13.6% against the U.S. dollar. The meme currency economy, in general, is down as a whole, having lost 3.5% of its value in the last 24 hours.