Here’s why Shiba Inu holders are bullish after Shytoshi Kusama’s update on Shibarium
- Shytoshi Kusama shared a progress update on Shibarium, informing SHIB holders that the beta launch is coming up.
- Kusama referred to Shibarium as the “Goal of 2022,” and said that work on the development of the layer-2 scaling solution is ongoing.
- Shiba Inu price yielded 6.6% gains since February 13 and Kusama’s announcement fueled a bullish sentiment among SHIB holders.
Shiba Inu’s layer-2 scaling solution Shibarium’s beta launch is coming up as Shytoshi Kusama shared a progress update in his latest blog.
Kusama shared all public updates and mentioned that Shibarium’s development is on track and SHIB community members should expect another announcement soon.
Also read: Dogecoin and Shiba Inu lead the wave of meme coin price rallies, here’s what to expect
Shytoshi Kusama shares Shibarium’s progress with SHIB Army
Shytoshi Kusama, the lead developer of Shiba Inu project shared a detailed blog post on Shibarium’s progress throughout 2022.
Kusama shed light on the different projects within the SHIB ecosystem, partnerships and development updates with community members.
Let's start the week off right. NEW SHIBARIUM BLOG. 2022: The Year of Learning recaps the year and looks forward towards #Shibarium. Read it so you're all caught up. https://t.co/9pueKAAVHt
— Shytoshi™ (@ShytoshiKusama) February 20, 2023
The post covers latest developments in the SHIB metaverse, the collectible card game and Welly’s, the fast-food joint where Shiba Inu has 15% ownership.
Kusama finally answered the question, “When Shibarium?” And asked the community to expect another update soon.
Shibarium beta launch is around the corner as Kusama and his team of developers continue working on the layer-2 scaling solution that is expected to lower transaction costs for users.
Kusama asked the community to expect further details on safe and technical aspects of Shibarium and much more.
Shiba Inu continues its uptrend after yielding 6.6% gains
Shiba Inu, the second-largest meme coin, continued its uptrend alongside bullish developments in SHIB and upcoming Shibarium beta launch.
The Shiba-Inu-themed meme coin has yielded consistent gains since January 21, and climbed closer to its weekly high of $0.00001390.
SHIB price chart
There are two factors driving Shiba Inu’s price rally: the spike in SHIB token burn rate and the upcoming Shibarium beta launch.
Based on data from Shibburn, the Shiba Inu burn portal, a total of 9.8 million SHIB tokens have been burnt within the past 24 hours. The massive burn came alongside Shytoshi Kusama’s announcement regarding the upcoming Shibarium beta launch.
These bullish developments are expected to fuel the current uptrend in SHIB, in the short-term.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
