Wednesday, February 1, 2023
HomeCrypto NewsShiba InuAs Shibarium Approaches, Investors Believe SHIB Can reach $0.00002

As Shibarium Approaches, Investors Believe SHIB Can reach $0.00002

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Within the Shiba Inu community, excitement is building for the forthcoming release of the Shibarium beta.

As was previously mentioned, the Shibarium team released a fresh blog update on Sunday discussing the eagerly awaited protocol, igniting the interest of investors who believe the good news might push SHIB to $0.00002.

Shibarium Beta was ready to be released, and the team urged the Shib Army to “rejoice” in an update that has since received over 290K views and over 5000 likes on Twitter. 

The team also stated that they were “approaching the finishing touches for Shibarium’s Beta and its imminent launch,” even though a tentative launch date was not given.

However, they urged the so-called Shib-Army to maintain their composure, refrain from questioning “wen?” and concentrate on adequately creating and introducing Shibarium instead.

An anonymous Shiba Inu developer named Shytoshi Kusama tweeted earlier in the day;

“During fall, the tree may have only a few leaves, but then spring appears. Luckily, Shibarium, in this context, is a Pine Tree. Still, it needs water, sunlight, and proper soil. But pines survive and thrive during the harshest winters. (I also hear the needle tea is good for u.).”

 Shibarium Will Introduce Better Token Burn Mechanisms 

Shibarium is a layer 2 blockchain first proposed by Ryoshi, the SHIB founder who prefers to remain unknown, in May 2021. 

It aims to give the Shiba Inu ecosystem expansive capabilities and interoperability features. 

Shibarium will bring more effective token burn methods to lessen the disruptive supply of SHIB and essential scaling solutions, security, and the Decentralized Finance (DeFi) space.

The team mentioned last week that each transaction in Shibarium will burn SHIB and that it will be necessary to use $BONE to pay for transactions and gas expenses. 

Investors anticipate that the total token supply will represent the amount of SHIB tokens burned in each transaction. 

They claim that over time, this will substantially impact the amount of SHIB in circulation, raising the possible price of the digital currency.

Shib increased by more than 18% in the last 7 days after trading for weeks in a rut following the FTX collapse. 

According to information from Coinmarketcap, the “Doge Killer” was trading at $0.00001 at the time of publication after rising 3.83% in the previous 24 hours. 

Technically, traders have been keeping an eye on $0.000009, a crucial level anticipated to hold as support, driving prices to $0.000012, the next resistance, before pushing for $0.00002.

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