Shiba Inu investors are very optimistic about the Shibarium upgrade to increase the price of the cryptocurrency.
Shiba Inu (SHIB) one of the most popular cryptocurrencies in recent times in this highly volatile cryptocurrency market. Shiba Inu investors are very optimistic about this recently found Shib burning strategy and Shibarium to raise the price of cryptocurrency. This will help this cryptocurrency to reach one of the top ten cryptocurrencies. Thus, the Shibarium upgrade became the last hope in 2022 for millions of Shiba Inu investors. Let’s explore why the Shibarium upgrade is crucial for Shiba Inu investors.
With the Shiba Inu ecosystem continuing to grow through the expansive SHIB roadmap, projects such as SHIB: The Metaverse and the Shiba Inu game will add to an already extensive network. However, for a few other ongoing projects, they will all be based on Shibarium.
What is Shibarium?
Shibarium is a blockchain / layer-2 solution first proposed by Ryoshi, the creator of Shiba Inu Coin. Once launched, SHIB tokens will be migrated to L2.
Ryoshi originally used the phrase blockchain, Shibarium is more likely to be an L2 that is above an existing blockchain (Ethereum). The creator of SHIB said: “The line between an L2 and its own blockchain is thin, so what is the real difference between Matic L2 and BSC?”
It is worth noting here that Shibarium is not its own blockchain and does not mean that a Shiba Inu 2.0 token will come. SHIB will remain connected to Ethereum.
One of the main goals will be to reduce transaction fees for those in the Shiba ecosystem.
Ryoshi first said that Shibarium’s transaction fees will be minimal, or even zero. Speaking of Shiba Discord, Shytoshi Kusama, the head of the Shiba project, said: “Shibarium will offer low fees for every service, game or anything based on it.”
Introduction to Shib Burning Strategy
Shib’s burning strategy is calculated with three special addresses, including two dead wallets and chips to Genesis. It helps to reduce the supply and at the same time increase the demand for this cryptocurrency out of thousands of cryptocurrencies. It is essential that we maintain a higher cryptocurrency price in this highly volatile cryptocurrency market. SHIB investors hope that the strategy of burning coins could remove this cryptocurrency from the problems in this cryptocurrency market.
Shiba Inu was introduced to this cryptocurrency market as a memecoin. But it turned into a valuable cryptocurrency to be in the crypto wallets of Shiba Inu investors. They gradually lose hope for the steadily falling price when other cryptocurrencies increase their prices efficiently and effectively. This cryptocurrency has substantial growth potential with this Shib burning strategy.
Why are Shiba Inu investors so excited about Shibarium?
Layer 2 solution will bring more benefits to the table. Most importantly, the launch of Shibarium will lead to lower transaction fees. SHIB is built on the Ethereum blockchain (ETH 3.98%). As a result, its gas taxes have been much higher than anyone would have liked. The developers behind Ethereum are working to fix the issue with a major update. However, Shibarium could solve the problem for Shiba Inu even faster.
Another thing that Shiba Inu investors are looking forward to with Shibarium is a burning mechanism. There are currently over 549 trillion SHIB chips in circulation. The only way to reduce this number is to burn your existing chips.
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