The Shiba Inu (SHIB) testnet has seen a surge in engagement in recent weeks, with the number of blocks produced and transactions processed increasing significantly. This has led to speculation that the launch of Shibarium, the project’s layer-2 solution, is imminent.
Shibarium is expected to offer a number of advantages over the current Ethereum network, including lower gas fees and faster transaction speeds. This could make SHIB more attractive to investors and users, and could potentially lead to a significant increase in the token’s price.
At the time of writing, SHIB is trading at $0.00000721, down nearly 5% in the past 24 hours. However, if Shibarium is launched successfully, it could help to boost the token’s price and make it more competitive with other cryptocurrencies.
Shibarium Release Date
Lead developer Shytoshi Kusama has said that Shibarium will “most likely” be released at the Blockchain Futurist Conference in Toronto on August 15th and 16th. If this is the case, we could see a significant increase in SHIB’s price in the weeks leading up to the launch.
Also Read: Ark Invest Claims to Be First in Line for Spot Bitcoin ETF
Of course, there is no guarantee that Shibarium will be a success. However, the recent surge in testnet engagement is a positive sign, and it suggests that there is a lot of interest in the project. If Shibarium is launched successfully, it could be a major catalyst for SHIB’s price.
Here are some of the potential benefits of Shibarium for Shiba Inu:
- Lower gas fees: Shibarium is expected to use a proof-of-stake consensus mechanism, which is more energy-efficient than the proof-of-work mechanism used by Ethereum. This could lead to significantly lower gas fees for SHIB transactions.
- Faster transaction speeds: Shibarium is expected to be able to process transactions much faster than Ethereum. This could make it more attractive for use in decentralized applications (dApps).
- Increased scalability: Shibarium is expected to be able to handle a much larger number of transactions than Ethereum. This could make it more suitable for use as a mainstream cryptocurrency.
Overall, Shibarium has the potential to be a major catalyst for Shiba Inu. If the project is launched successfully, it could help to boost the token’s price and make it more competitive with other cryptocurrencies.
