• Shiba Inu (SHIB) token has seen a 60% price rally in 2023 as traders anticipate the launch of its Layer-2 network, Shibarium.
• The Shibarium launch announcement has further boosted SHIB’s price by 25%, leading to FOMO among investors.
• Shibarium is expected to enable developers to build and launch decentralized applications while aiming for lower transactional costs and improved network scalability.
Shiba Inu (SHIB) has taken the cryptocurrency space by storm, surging to its highest level since early November 2022. The SHIB token has seen a massive price rally of 60% year-to-date (YTD) to $0.00001294, largely due to the favorable macro conditions that have pushed up the cryptocurrency market. However, the SHIB rally picked up momentum after the Shiba Inu team teased its audience with the upcoming launch of its Layer-2 network, Shibarium.
Powered by the Ethereum blockchain, Shibarium is expected to enable developers to build and launch decentralized applications while aiming for lower transactional costs and improved network scalability. The launch announcement has further boosted the SHIB price by 25%, leading to FOMO among investors.
Shibarium is the latest development in the Shiba Inu project, which started off as a Dogecoin (DOGE)-inspired memecoin. The team has been working hard to expand the project’s reach by introducing new features and launching the Shibarium. The launch of the Shibarium is expected to be a big boost for the SHIB token and its community.
The SHIB token has seen a surge in popularity as it has become a favorite among traders, investors and meme-makers alike. With the launch of the Shibarium, the Shiba Inu team is hoping to build on the success of the SHIB token and create a network that can compete with other popular blockchain projects.
The Shiba Inu team is confident that the Shibarium will help propel the SHIB token to even greater heights. This could be one of the reasons why traders have been pouring money into the SHIB token, hoping to benefit from its potential growth. The success of the Shibarium will depend on how quickly it can be adopted by developers and users alike.
For now, the SHIB token is enjoying the FOMO effect and its price continues to soar. The launch of the Shibarium could be the catalyst that brings about even bigger gains for the SHIB token. The Shiba Inu team is working hard to ensure that the Shibarium is successful, and if so, the SHIB token could see even greater gains in the future.