Shiba Inu introduces Shibarium: its layer 2 blockchain

shiba inu

Shiba Inu today introduced Shibarium, the memecoin’s new layer 2 blockchain that will be used to build dApps, metaverse and even NFTs. At the time of writing, SHIB is up 22% in one week.

Shiba Inu and its new layer 2 blockchain Shibarium

A few hours ago, Shiba Inu (SHIB) posted a tweet introducing the beta version of Shibarium, namely its long-awaited Layer 2 (L2) blockchain for its community. 

Essentially, Shiba Inu wants to clarify key concepts that its community will need to understand in order to grasp this new ecosystem as it awaits the pre-launch testing. 

Shibarium is Shiba Inu’s new L2 blockchain on which dApps, metaverse and NFTs will soon be built. It is a collective blockchain that scales and invites solutions, innovation and security in the decentralized finance space. Transactions take place “off-chain,” meaning they occur outside the layer 1 blockchain (Ethereum) and are communicated back. 

As such, the aim is to allow Shibarium to do most of the processing work by alleviating bandwidth, which translates into reduced costs (gas fees) and processing time for end users.

Not only that, the new blockchain runs on top of the Ethereum blockchain, and the tokens in the ecosystem are SHIB, LEASH and BONE. 

The price of SHIB is +22% in one week, and the invitation to the SXSW XR Experience

The 14th crypto by market capitalization, SHIB, is experiencing a 22% price pump in one week. 

Specifically, during the day on Saturday, SHIB went from a price of $0.00001021 to $0.00001087. 

Indeed, SHIB is following the general upward trend of crypto, led by the pump of Bitcoin (BTC), which from $17,190 has gone above $21,000 in the past 7 days. 

In addition to the general trend, though, over the past week SHIB also received an invitation to the SXSW XR Experience in Austin, Texas. 

On that note, Marcie Jastrow, Metaverse Advisor at Shiba Token, said:

“The invitation of SHIB: The Metaverse to the SXSW XR Experience is a major milestone that shows SHIB is much more than a memecoin. SXSW is among the world’s best-known tech and culture conferences. SHIB’s presence at SXSW 2023 will make it easy for people to take part in the Metaverse.”

More updates on the ‘Dogecoin killer’

Recently, talking about the ‘Dogecoin killer’, Shiba Inu was also addressed by WhaleStats, a Twitter account that posts updates on whale activity. 

Basically, SHIB ranked in the top 10 cryptocurrencies by trading volume among ETH’s 500 largest whales in the 24 hours of 12 January. 

Not only that, Shiba Inu also received a Skynet Trust Score of 93 in Certik’s Web3 Security Leaderboard report, placing second as the “most secure” project, only behind Polygon. 

This is an average of a “Security” score of 92 and a “Market and Community” score of 95, which is calculated by measuring a crypto project’s relative security, market performance and social sentiment.

The launch of the new social network ShibArmy.VIP

Earlier this month and year, Shiba Inu’s crypto community, the infamous “ShibArmy,” launched a new social network: ShibArmy.VIP. 

The new social will allow all members to follow everything SHIB-related. Specifically, it was the SHIB Dream account that created it, allowing the SHIB community to also follow hashtags but also search for job opportunities in the Shiba Inu ecosystem. 

The Android and iOS app of ShibArmy’s new social network will be active as early as this January 2023.