Shytoshi Kusama is the father of the Shiba Inu crypto meme. In recent hours, his hints about the launch of the Shiba Inu layer-2 blockchain have developed curiosity among Shiba Holders and other experts.
Kusama has informed his 865,000 followers and other social media users that Shibarium is coming very soon, although he did not specify when.
Kusama’s announcement creates excitement in the crypto world: what is Shibarium
Regarding the important news launched by Kusama about Shibarium, the following can be read on his official Twitter profile:
Happy Holidays to more than half the 🌎. Wen Shibarium? Please know it will come very soon*, but not during a crucial time for people to spend with their family (or the resulting New Years party time). Enjoy these next days, next year is an important one for humanity.
— Shytoshi Kusama™ (@ShytoshiKusama) December 24, 2022
According to sources, Shibarium is a blockchain scaling solution, yet to be launched, but intended to address the low transaction speed of the host chain of Shiba Inu: Ethereum (ETH).
There should be a few mind-blowing changes seen in Shibarium, and at the moment it seems they are burning SHIB tokens, which could help increase the value of Shiba.
In addition, we know that Shibarium will use BONE, a governance token developed by Shiba Inu for the gas tax.
According to CoinMarketCap, BONE will allow ShibArmy to vote on upcoming proposals. In addition, the more BONE a user holds, the greater the weight of their vote on future commitments.
Dogecoin and Shiba Inu: Kusama’s crypto is lower in market capitalization
The Dogecoin crypto, which also became famous thanks to Elon Musk‘s support, is a tough competitor to Shiba Inu. According to market data, Dogecoin’s market capitalization is higher than that of Shiba Inu.
It is important to note that Shiba Inu is an ERC20 token, founded in August 2020 by Dogecoin. Thus, while SHIB is a token, Dogecoin is a coin. Which means, as things stand, SHIB does not have its own blockchain, but runs on Ethereum, being a standard ERC20 token. DOGE, on the other hand, is built and runs on its own blockchain, making it a coin in its own right.
However, a post on Shiba Inu’s blog on 23 December reads:
“SHIB: Metaverse is set to become the culmination of the history of the Shiba Inu as a community, displayed virtually, in a layer of beautiful imagery that showcases innovation and unity with a place the ShibArmy crypto community can truly call home.”
Indeed, through Shiba Inu’s partnerships with some of the industry’s leading brands, they are able to push the boundaries of immersive environments and provide guidance on how SHIB should be represented, listening to community sentiment and relaying feedback directly to the studio’s experts.
Shiba Inu burn rate: decreased by more than 70%
According to CoinMarketCap data, in the past few hours, SHIB is trading at $0.000008298, with a trading volume in the past 24 hours of $56 million.
No doubt, the meme token has a huge ecosystem with a wide range of services and products in the Web3 network. Moreover, its appearance in the GameFi segment has reinforced the hope that Shiba Inu is the future of games, as reported by the Nowpayments blog.
According to data from Shibburn.com, again in the past 24 hours, more than 13 million SHIB tokens have been burned. And, the total amount of SHIB tokens burned to date is about 410 trillion tokens since the initial supply.
The data is also reported from Shibburn’s Twitter account, which reads:
In the past hour, there have been a total of 2,006,097 $SHIB tokens burned and 1 transaction. #shibarmy
— Shibburn (@shibburn) December 27, 2022
Thus, Shiba Inu’s burn rate has decreased by about 71.71% in the last 24 hours.