Shibarium could launch the vehicle that takes Shiba Inu in the direction of the long-awaited milestone of $0.01. Shytoshi Kusama, the main developer of ShibaSwap, announced that ‘Unification’ (a company working on the L2 platform) has almost completed the project. He recently tweeted that the private testnet for Shibarium is live and the team is working on updates. Only the core team can access the private testnet and the public testnet will be launched shortly. However, a tentative date for the launch of the public testnet has not been revealed. “The second version of the Shibarium private testnet is live and under optimization on both teams with plans to launch a public testnet very soon,” Unification’s Medium blog post reads. Also, now that the private testnet is live within the team, an announcement about the public testnet might not be too far away.
Shibarium could lead Shiba Inu towards $0.01
The most anticipated development in the SHIB ecosystem is Shibarium. Shibarium’s upcoming layer 2 solution will run as its own blockchain and overcome the high gas fees generated by Ethereum for transactions. Thus making it affordable for investors to buy the token and increasing their buying pressure. However, Shibarium will be built on top of the Ethereum network and not as a standalone blockchain, therefore it was a layer 2 solution. Shibarium could be a game changer when it launches and could push Shiba Inu (SHIB) into a path to scale sustainably. The team aims to dramatically reduce gas fees and had also previously suggested transaction fees could be $0 as well. In other words, Shibarium can attract buying pressure, make transactions affordable, and also make the token available to everyone. The stock and crypto analyst Cryptopredicted that Shibarium will push Shiba Inu towards the 1 cent mark.
“#Shibarium L2 contributes directly to #1CentDream. Anyone who doesn’t understand how $BONE & $LEASH directly contribute to freeing $SHIB from ERC-20 congestion is doing the #ShibArmy an injustice.”
“When $SHIB is free from ERC-20 congestion and high gas fees, everyone will be able to afford $SHIB. When $SHIB is for everyone . $SHIB will make a #1CentDream a reality for everyone who had the #ThinkMacro vision”he tweeted.
At press time, the Shiba Inu was trading at $0.00002354 and is down 5.5% in 24-hour trading.