SHIB’s Shibarium public beta slated for deployment in Q3

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The shiba inu crypto community is anticipating the launch of layer two (L2) scaling solution Shibarium after it was revealed that the public beta will launch in Q3. According to shiba inu developers Shytoshi Kusama and Ryoshi, the layer two solution will reduce transaction fees significantly and possibly to zero.

Shiba Inu’s L2 Solution Shibarium To Launch In Q3, Ethereum Whale Acquires 163.2 Billion SHIB

The shiba inu meme token (SHIB) has seen a 33.6% gain against the US dollar in the past seven days and much of the upside revolves around the Shibarium announcement. Additionally, an Ethereum whale bought 163.2 billion SHIB over the past 24 hours worth approximately $1.74 million using today’s SHIB exchange rates. There has been a lot of talk about the L2 Shibarium scaling solution on the project’s Discord server. and

Additionally, the Unification Foundation, a team of developers behind Shibarium, revealed some updates on the upcoming project. According to the Unification Foundation, Shibarium was launched in a private setting during the testnet alpha phase. The developers explained that the results were successful and that “the main tool under intensive development is the wallet application”.

Maziar Sadri of the Unification Foundation added:

The Shibarium Public Beta Testnet is scheduled to roll out in Q3, to coincide with the FUND Testnet upgrade which includes the highly anticipated IBC/Gravity/wFUND updates. The public Beta Testnet will allow parties to fully interact with the network, including the validation process.

Year-to-date, SHIB is up 56% against the US dollar

While SHIB is up 33.6% over the past week, it is still down 87.6% from the token’s all-time high reached in October 2021. Despite this, year-to-date , the SHIB token is still up 56% today against the US Dollar. At the time of writing, SHIB holders making money at the current price are around 23% according to Into the Block statistics. SHIB has a large concentration of whales, as Into the Block measurements indicate that the concentration of SHIB from large holders is around 81%.

SHIB also has a burn strategy that aims to make the crypto asset rarer by allowing people to burn SHIB in the burn portal. While burning helps reduce the supply of SHIBs, there are 589,390,205,650,282 SHIBs in circulation today. While the shiba inu has gained over 33% in the past week, 10.1% has been harvested in the last 24 hours.

Keywords in this story

Burn Portal, Burn SHIB, ethereum whale, Into the Block data, Ryoshi, shib, SHIB whales, shiba inu, Shibarium, Shibarium launch, Shytoshi Kusama, Unification Foundation

What do you think of the upcoming Shibarium launch? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Manager at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written over 5,000 articles for Bitcoin.com News about disruptive protocols emerging today.




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