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Meme token shiba inu has rallied against the US dollar over the past seven days as supporters of the coin anticipate the beta launch of the second layer (L2) scalable Shibarium solution. The developers detailed on January 15, 2023 that the L2 platform, Shibarium beta, is set to launch on top of the Ethereum blockchain to provide greater scalability, faster transaction times, and lower fees.

SHIB Token Market is responding positively to the upcoming launch of Shibarium

The Shiba inu (SHIB) meme token community, also known as the “SHIB Army”, is excited about the launch of Shibarium, a new two-layer scalable solution built for the SHIB crypto ecosystem. Rumors of Shibarium’s launch began last year, as it was originally slated to launch in the third quarter of 2022. Mid December. In 2022, members of the SHIB community have hinted that the launch of the program is getting closer by the day. On January 15, 2023, the SHIB team published a blog post titled “Introduction to Shibarium. Shiba Inu’s Layer 2 Network”.

The blog post claims that “Shibarium beta is about to launch” and describes what people can expect at launch. The team stresses that Shibarium will be a phased release. The project’s native token, called BONE, will be used “to pay for gas transactions and reward validators and delegates within the Shibarium protocol.” The team also notes that while there is a supply of 250 million bones, “20 million are reserved to reward ratifiers and delegates in the coming years.”

ERC20 meme token shiba inu (SHIB) was higher in the Shibarium news during the last week as SHIB traded up 19.3% against the USD. BONE is up 11.1% in the last 24 hours and BONE is up 16.1% in the last week. Despite the Shibarium beta launch, several other meme tokens have seen bigger gains, such as floki ( FLOKI ), which jumped 26.4% this week.

Meme token let’s go brandon (LETSGO) is up 71.6% in the last seven days, while shibavax (SHIBX) is up 55.9%. Metadoge ( METADOGE ) is up 41.5% this week and hoge finance ( HOGE ) is up 30.5%. The godfather of meme coins, dogecoin (DOGE), has seen moderate gains this week, jumping 13.6% against the USD. The meme coin economy is generally down as it has depreciated by 3.5% in the last 24 hours.

Tags in this story

Army, Blockchain, Blog, BONE, community, clients, dogecoin, Ethereum, FEE, floki, Gas, reviews, hoge finance, startup, Let’s go Brandon, meme, Metadoge, other, post, reserves, reward, Scalability, Scaling, shib , SHIB developers, SHIB team, shiba inu, Shibarium, Shibarium beta, Shibavax, solution, supply, time, token, tokens, transactions, validators

What do you think about Shibarium’s potential impact on the future of the SHIB token economy? Share your thoughts and predictions in the comments below.

Jamie Redmayne

Jamie Redman is the News News Lead and financial technology reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for News about disruptive protocols emerging today.

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