Shibarium, the next project from Shiba Inu, is the most anticipated new project, and investors can’t wait for it to come out. Users say that Shibarium is the only vehicle that can get Shiba Inu to follow the one-cent route. Shibarium is a layer-2 solution built on the Ethereum network that aims to make token transactions easier and gas prices much cheaper. The change could bring a lot of new and first-time users to the SHIB ecosystem, which would make more trades happen.
Shytoshi Kusama, the main developer of ShibaSwap, was asked about the Shibarium release during a recent Q&A on Welly’s Discord group. But this time, Shytoshi did not say “Shibarium documents.” Instead, he just talked about Shibarium.
“Shibarium will be here soon.” He told a user who asked about the release date of Shibarium that they already had plans to work harder.
Shytoshi has always said that Shibarium and the “Shibarium documentation” would be released “soon.” Still, since the layer-2 solution is still being worked on, no firm release date has been given.
The company that runs the Shiba Inu Shibarium network, Unification, has said that layer-2 has moved to a private testnet. When the private testnet is fully up and running, the public testnet will go live.
Shibarium might be available by the end of 2022, according to rumors, but this has not been confirmed. We’ll have to wait until the team tells us for sure that Shibarium is ready to be released.
Shiba Inu: Shibarium’s ‘Burning’ Mechanism
People say that Shibarium has a small transaction fee that could be used to burn SHIB tokens. Queenie, a moderator on the Shiba Inu Discord server, has made a set of hypothetical data that suggests Shibarium may burn billions of tokens every year.
Read on to find out more about Queenie’s hypothetical calculations and how many SHIB tokens may be burned each year. Also, these are Queenie’s calculations, not a report from the SHIB team about the “burn.”
Shiba Inu has to burn billions of tokens to make it look like it could reach $0.01 in the real world. If it doesn’t “burn” tokens, the “1-cent dream” for its millions of investors may stay a dream.
At press time, Shiba Inu was trading at $0.00000790, which was down 4.9% for the day. It is also down 90.8% from its all-time high of $0.00008616 in October of last year, which was the highest price ever.