The SHIB (Shiba Inu) token is the offspring of the Ethereum network – an alternative to DOGE (Dogecoin). SHIB, in terms of accessibility, is almost the exact opposite to Bitcoin. BTC plans to make Bitcoin scarce, while the SHIB token flows freely.
Its total supply is 1 quadrillion. However, its community intends to reduce this number. The ecosystem offers a fertile ground for various projects. One of the projects is to create a Shibaswap-style decentralized exchange and store NFT art.
SHIB’s game Shiba Eternity was launched by the team. The developers have yet to provide any updates.
The developers have revealed that they’ll release more updates on the newly launched Shiba Eternity on Thursday. According to community, an event will be held in conjunction with the announcement. The eagerly awaited update by the developers has already become a topic of discussion on Twitter.
These are due to already scheduled Twitter Spaces. There, community members can share their views on the Shiba Eternity Project. Shytoshikusama, the founder of SHIB token and William Volk, will be updating the community with more information. These updates are expected to be released on the SHIB official Twitter page.
Briefing On Shibarium Development
A layer-2 network of blockchains from SHIB developers currently is in development. This blockchain is known as Shibarium, and it’s intended to reduce the workload of building blockchain ecosystem applications. Developers and users are the primary beneficiaries of this development.
Shibarium layer-2 is a network that uses the same idea as the Ethereum blockchain network. Both networks are designed to support decentralized apps (DApps) developers.
Project’s goal is to lower transaction fees for gamers. Because the SHIB token and the community will be using the project as their premium layer-2, this is possible.
A Quick Look At Shiba Inu Price
Considering the current bearish state of the crypto market, it’s no surprise that the SHIB token is dropping in value. The market watch for the past four weeks shows this clearly.
The value of the token has fallen to three months earlier. There’s no indication pointing to the possibility of a rise anytime soon. Similar can be said for general crypto markets.
But the update of the community’s upcoming project from Shytoshi Kusama seems to raise the hopes of many fans of the SHIB token. As a result, several investors are watching the SHIB token’s price. The current trend in digital token trading is bullish.
UnSplash Chart, Featured Image: TradingView.com