Big Shiba Inu News Shibarium Mainnet Goes Live

Big Shiba INU news coming as Shibarium mainnet goes live hours ago and the update is not helping the Shiba Inu price today.

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Muhammad Naeem

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Last updated Aug 18, 2023 at 08:59 PM

Posted Aug 18, 2023 at 07:00 PM

Shiba Inu News Shibarium

The Shiba Inu ecosystem is expanding as the token has launched its very own mainnet and now evolves to become the Shiba Inu coin. The Shiba mainnet called Shibarium, is a layer2 solution on the Ethereum network with the power to scale the Ethereum network with its unique consensus model.

Shib coin emerged as a meme coin in the cryptocurrency space. The dogecoin-inspired Shiba Inu (SHIB) rose to popularity in 2020-2021 and seemed to have conquered the blockchain world.

Shiba Inu (SHIB) Price USD Today

Shiba Inu (SHIB) SHIB price today is at $0.00000854, along with a 24-hour trading volume of $488,376,779. Although it's down by 10.77% in the last 24 hours, Shiba Inu still holds its position as the #15 cryptocurrency on CoinMarketCap, boasting a market cap of $5,151,974,838 and a circulating supply of 589,346,914,631,298 SHIB.

Shiba Inu USD price today: A bearish week

Despite Shiba Inu news Shibarium launch, the token has been moving against the expectations of the investors. In the past week, it has been gaining huge gains and the investors were hoping for it to move upward and rise to new highs.

However, it moved against the traders' hope and lost over 10% like many other tokens because of the bearish moves of Bitcoin.

Behind the Shiba Inu Shibarium News:

Since December 2022, Shiba Inu Shib was promoting its very own blockchain network, the Shibarium. On August 16, 2023, the Shibarium mainnet goes live and the Shiba token finally becomes the first Shibarium coin.

Shibarium is a layer2 Ethereum solution that uses the security of Ethereum and as a layer2 mainnet improves its scalability through the Proof of Activity (PoA) mechanism.

Developers have announced that the Shib mainnet chain is officially prepared to welcome millions of individuals who are eager to help shape a future that prioritizes decentralization. This launch comes after a highly successful test net phase that fostered a community of over 21 million user wallets.

Shib leash challenging all layer2 network

Shib leash challenging all layer2 network

The mainnet experienced over 160 million compute units after 30 minutes of Shiba Inu (SHIB) chain was released. And if this pace continues, it might pass over a billion units every day which is insane traffic for any layer 2 network.

A record-breaking 21 million wallets were created and such a huge number of users joining the Shib party was encouraging. The Shiba Inu Shibarium News was expected to help the price of the shiba inu coin rise and bring more users to the network. Though it succeeded in the latter, it failed to move the price upwards as the crypto market cap was dwindling.

if you are wondering if you can experience Shiba Inu mainnet, we have got you.

The quickest and most convenient way to experience the benefits of Shib chain Bridging is by following these simple steps:

1. Purchase $BONE on Uniswap.

2. Use the Shibarium Bridge to transfer your BONE from ETH to Shibarium network.

3. Swap your tokens using Shib Swap.

4. Explore the Shibarium Network using ShibScan.

5. Lastly, ensure that you add Shibarium Network to your wallet.

By following these steps, you can easily enjoy all the benefits of Shibarium Bridging without any hassle.

Shiba Inu News Shibarium Ecosystem:

Shiba has a long way to go and it is readily completing the milestone that it promised to the community.

Shiba Inu ecosystem:

Shiba inu ecosystem consists of 3 main pillars:

Shiba Inu (SHIB) Coin: Shib Project ecosystem

Shiba Inu (SHIB) Coin: Shib Project ecosystem

  1. Bridge:

The aim is to enhance the game by establishing a connection between the Ethereum layer1 network and Shibarium, while also extending Shibarium to other blockchain networks.

2. Delegate

Win exciting rewards by delegating tokens on the platform.

3. Validate Transaction:

Join the network as a validator and fulfill your role as a Shibarmy warrior to strengthen the network's security.

The Shib ecosystem has ambitious plans for the future, including the addition of a launchpad, decentralized exchange, and other exciting features.

Projects on Shiba Network:

Shiba Inu (SHIB) has entered the crypto market with a new blockchain. The community welcomes the news as several crypto projects have already started developing on this chain.

Shibarium Ethereum scalability

Shibarium Ethereum scalability

Shiba Inu Price Prediction:

Shiba Inu is trading at $0.00000854 just above the local support levels. It is expected to bounce back from this level and touch the local highs of $0.0000108 again. However, due to Bitcoin's bearish moves today, it is hard for any coin to resist the bearish momentum of downward flow.

Shiba Inu Coin Shibarium Launch Impact

If Bitcoin further moves down, we should also expect a bearish move of SHIB toward the lower support level of $0.00000717.

Overall, if we look at Shiba Inu, it is very encouraging to see a coin actually doing something constructive instead of solely relying on the meme community, hype, and the crypto whales. Let's hope that the other meme coins follow the lead of Shiba to empower the crypto community.

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