The Shiba Inu ecosystem (quotation SHIB) is working on the release of the long-awaited Shibarium level 2 scaling solution. With Shibarium L2 up and running, the Shiba Inu community is assured of an increase in token burn.
According to aggregate data from the Shibburn website, the Shiba Inu burn rate has already risen to over 1.700% in the past 24 hours. As a result, more Ethereum-based whales have been reported as migrating to the Shiba Inu ecosystem in anticipation of higher earnings.
A closer look at the latest Shibarium updates
The global Shiba Inu network was wowed over the weekend by the announcement of a new website and hiring system from lead developer Shytoshi Kusama. Shibarium's onboarding system is designed to identify the most promising projects within the Shiba military and, at the same time, keep the community organized.
However, Kusama warned the Shiba Army that the project tokens associated with the Shibarium beta are for testing purposes only. As a result, cryptocurrency investors have been advised not to be scammed and, therefore, to wait for the launch of the mainnet to purchase Shibarium-based tokens.
The launch of Shibarium's layer 2 scaling solution comes at a time when regulatory scrutiny over cryptocurrencies has intensified following the collapse of Terra Luna exchanges UST and FTX last year. The US Securities and Exchange Commission, via Gary Gensler, has indicated that all altcoins are intended to be classified as unregistered securities.
After Bitcoin (BTC) narrowly escaped regulatory scrutiny, Gensler recently said that all cryptocurrency projects, with people working behind the scenes using investor money to improve the network, are unregistered stocks.
With Shibarium's new website touting its services to global investors and DeFi developers, Gensler and his fellow commissioners will have an easy time classifying SHIB as an unregistered stock. Shibarium's new website reads.
Boost your business with Shiba Inu's new L2 blockchain technology! Discover the beta, become a validator, work with us or collaborate with us, the new era has begun; we are all called to do our part to make a better place with this cheap, fast and… Powerful technology.
Can Shib reach $0,01 soon?
Having posted gains of around 15.462.638% over the past two years, it's safe to bet that the Shiba Inu will post even higher gains in subsequent bull markets. With a round-the-clock trading volume of approximately $24 and a total market capitalization of over $24 billion, the Shiba Inu community continues to expect further upswings in the future.
The climb to $0,01 per Shiba Inu will require a higher stock exchange listing to improve the liquidity of the token.
