The SHIB (Shiba Inu) token is the descendant of the Ethereum network – an alternative to DOGE (Dogecoin). SHIB is more or less the opposite of Bitcoin in terms of availability. While BTC looks to make it scarce in the crypto market, the SHIB token is flowing in abundance.
This is reflected in his total offering of 1 quadrillion, although his municipality plans to lower that number. Besides, its ecosystem is a good ground for various projects. Some of these projects are creating a decentralized exchange called Shibaswap and storing NFT art.
The SHIB team recently launched their game called Shiba Eternity. However, further updates to the game from the developers are still pending.
The developers have announced that they will be releasing more updates for the newly launched Shiba Eternity on Thursday. An event will accompany the announcement, according to the community. But the expected update from the developers is already a topic of discussion on Twitter.
This is due to the already planned Twitter Spaces. Community members will share their thoughts on the Shiba Eternity project there. Further updates will come from the founder and main developer of the SHIB token, Shytoshi Kusama, and William Volk. They intend to post these updates on SHIB’s official Twitter page.
Briefing on the development of the Shibarium
A layer 2 blockchain network from SHIB developers is currently in the pipeline. Known as Shibarium, this blockchain aims to reduce the workload of building blockchain ecosystem applications. The main beneficiaries of this new development are developers and users.
The idea of the Shibarium Layer 2 network is similar to that of the Ethereum blockchain network. The reason is that both networks support developers of decentralized applications (DApps).
The idea behind the project is to reduce transaction costs for games of chance. This is possible because the project will serve as a premium layer 2 for the community and the SHIB token.
A quick look at the price of Shiba Inu
With the current bear market in the crypto market, it comes as no surprise that the SHIB token is falling in value. This emerges from the market observation of the last four weeks.
The token is now down to where it was three months ago. There is no indication of the possibility of an increase any time soon. The same applies to the general crypto market.
But the update of Shytoshi Kusama’s upcoming community project seems to raise the hopes of many fans of the SHIB token. As a result, several investors are watching the price of the SHIB token. The digital token is currently trading in an uptrend.
Shiba Inu trending up l SHIBUSDT on Tradingview.com Featured image from UnSplash, Chart: TradingView.com
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