- With the Shibarium Beta testing round soon to launch, SHIB expects a price rally in the coming days.
- Launching the L2 scaling solution should make the Shiba Inu network experience more scalability and improve transaction speed.
The lead developer for the popular meme digital currency Shiba Inu, who goes by the alias Shytoshi Kusama, recently disclosed in a Telegram post that the long-awaited beta testing for the Shibarium protocol would soon debut. A source familiar with the matter said the developer announced that the launch is “seriously coming.”
👀👀👀#SHIB #Shibarium pic.twitter.com/tehcUIdG8T
— KURO🐾SHIBARMY🇯🇵JPN (@kuro_9696_9696) December 20, 2022
Kusama added that the beta testing phase for Shibarium, an Ethereum Layer-2 scaling solution for the canine cryptocurrency, is near. The Shibarium update has been long overdue, and the Shiba Inu community grew frustrated with the repeated delays. According to reports, the development team, also known as Unification, revealed at the start of the year that the beta testing for the Layer-2 network would go live toward the end of September.
However, the plan did not go as predicted by the development team, as the project encountered a critical technical defect that forced the team to defer the Shibarium launch date. Meanwhile, in recent weeks, most SHIB holders have expressed their optimism about the Shibarium launch by saying that it is around the corner following a countdown timer released by some team members.
Furthermore, Shiba Inu supporters believe that the recent countdown update was meant for Shibarium following Kusama’s previous remarks about his focus being on the L2 protocol. In a somewhat twist of the event, the countdown was for the network’s website upgrade, not the Shibarium launch update, which disappointed many in the community.
Website Upgrade Before Shibarium Launch
Meanwhile, another Shiba Inu developer, SHIB Trophias, who manages the website upgrade, said that site improvement is necessary to make the Shibarium launch successful. The developer added that the first thing to do is update the main website before the team proceeds with the launch of the beta phase of the Shibarium. However, Trophias noted that the team could only complete part of the website upgrade on the go.
As a result, the upgrade will be done in batches, and the team will try to make it as seamless as possible. However, the Shiba Inu development team in charge of the Shibarium launch did not disclose the date for the beta testing. However, with the holiday season upon us, the beta testing round would likely go live within the first quarter of 2023.
Could Shibarium Upgrade Trigger a $0.10 Price Rally?
With the expected launch of the L2 scaling solution, the Shiba Inu network should experience more scalability and an improved transaction speed. The meme token has plummeted by more than 80% from its all-time high price a year ago.
Nevertheless, Shibarium will bring another dimension to the network by dividing transaction loads through the burn to prevent congestion. Thus, boosting its price by more than 50%, according to analysts’ estimates. As a result, the Shibarium launch could drive SHIB’s price to the $0.10 level.
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