Altcoins
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The ecosystem of Shiba Inu tokens continues to evolve.
How informed One of the lead developers of Shiba Inu, Shitoshi Kusama, has launched a decentralized blockchain called Shibarium in beta. Kusama also explains that this is a decentralized “second layer” (L2) system. The beta version of Shibarium was also called PUPPYNET and, as it is said, this blockchain “opens up the opportunity for anyone to create their own decentralized applications (dApps), integrate these dApps into existing businesses and thereby strengthen their business projects.” New features are accessed through site Shibarium.
The developer also warned that Shibarium is still working in test mode, and the positive side of the innovation will be that due to its characteristics as L2, it is expected to accelerate and increase transactions with Shiba Inu digital assets. This, in turn, will lead to the fact that even more of these assets will be permanently withdrawn from circulation, which will positively affect the volume of supply of Shiba Inu in terms of its impact on the price of cryptocurrency. Kusama recalled that the reduction in the number of Shiba Inu in circulation directly depends on the number of transactions carried out with these digital assets.
Recall that earlier in the ecosystem Shiba Inu appeared its own digital world, as well as the game Shiba Eternity. Amid the Shibarium announcement, digital asset Shiba Inu surged 0.75% to $0.00001024. The total capitalization of SHIB is about $6.04 billion. From its peak price value on October 28, 2021 ($0.000086), SHIB retreated by -88.11%, but compared to its minimum value, which was observed on November 28, 2020, the digital asset has risen in price by 18167645.26%.
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