The long-awaited official launch of the #Shibarium mainnet is just around the corner and the hosts of #ShibaInu (SHIB) are expecting a marathon.
The long-awaited official launch of the Shibarium mainnet is just around the corner. The event could arrive between the second and third quarter of this year. Even so, no one has guaranteed this, since there are several tests that must be carried out, as well as detailed audits to avoid "strange cases".
The developers in charge of Shibarium would be working around the clock to launch the service as soon as possible.
While all this is happening, another memecoin that boasts a meteoric rise in terms of its price, has become one of the most chosen by investors. This is Wall Street Meme (WSM), a project born in May that seeks, according to its own developers, to "rule them all", referring directly to #memcoins such Dogecoin (DOGE), Pepe Coin (PEPE) and, of course, to Shiba Inu. *A full article about WSM coming up!
How will the Shiba Inu fare with this new release?
The Shiba Inu price has begun to lose momentum and returns aggressively, while other cryptocurrencies are taking advantage.
In this sense, data taken from TradingView reveals that the SHIB decline has reached 1.12% so far this year. In the last six months the figure rises to 14.30%, while in May it lost more than 20%. Analysts from specialized pages speak that the SHIB may fall much more in the coming weeks.
Knowing what's going on with the meme coin and the rumors of a much more pronounced debacle, Shibarium lead developer Shytoshi Kusama recently reported that his team will host a bounty program to celebrate the upcoming milestones.
What benefits will Shibarium bring?
Shibarium includes a decentralized exchange (DEX), blockchain gaming, and the metaverse, and is expected to reduce Shiba Inu's reliance on Ethereum by moving most of its transactions to a layer 2 while using the Ethereum blockchain as security layer.
In addition to Shiba Inu, other tokens such as BONE, LEASH, TREAT, and SHI will also play an important role in Shibarium.
The developers have also implemented a token burning mechanism to reduce the number of SHIBs in circulation. The Shibarium platform will be the highly anticipated successor to the current Shiba Inu network, which has suffered from slowness and high gas fees due to its reliance on Ethereum.
BONE, LEASH, TREAT, and SHI tokens will also play an important role in Shibarium. BONE is a utility and governance token that has seen a 10% rise in the past week, according to CoinGecko. LEASH and TREAT can be wagered for rewards in Shiba Inu liquidity pools. SHI is a utility stablecoin. The Shibarium developers have also implemented a token burning mechanism to reduce the supply of SHIB.
What Makes Shibarium Unique?
There are several aspects that make Shibarium different, special, and unique. One example is its speed and scalability, which makes it perfect for business purposes. Another is the innovation that will allow developers to build on the dog-themed project’s blockchain.
However, these are not the things that excite the average investor. No, the thing that make Shibarium truly unique is its built-in burn mechanics. As you likely know, one sure way to increase the price of anything is to make it scarce. Now, SHIB has a massive supply, and reducing it even by a bit helps make it more valuable.
This is where the investors’ interests lie — with a mechanism that can help increase the price of the SHIB token. Shibarium would introduce a 24/7 burning mill that would relentlessly remove SHIB from circulation.
Shibarium Will Be a Game-Changer for Shiba Inu
Shiba Inu had started as a copy of DOGE and a regular memecoin, but it won’t stay that for long. The project has been working hard on developing new features, use cases, and benefits. With the arrival of Shibarium, all of these things will become a reality. As such, it represents a huge game-changer for Shiba Inu.
It will completely transform the project, bring new utilities to it, and likely allow its tokens’ to become much more valuable. It is clearly an ambitious project, but also one that Shiba Inu seems to be able to handle.