Shiba Inu Rolls Out Major Upgrade Enabling Custom Rollups on Shibarium

Shiba Inu’s development team has introduced a new feature, Shib Alpha Layer, which allows developers to create custom rollups on the Shibarium network.

This new infrastructure is designed to provide scalability, security, and quick deployment for decentralized applications (dApps), NFTs, and other blockchain-based projects. By simplifying the rollup creation process, the team aims to support the growing demand for tailored blockchain solutions.

Shiba Inu New Framework for Shibarium Ecosystem

According to Shiba Inu marketing lead Lucie, the Shib Alpha Layer framework has been developed to give developers the ability to deploy rollups in just minutes. These rollups can be customized to suit a wide range of applications, from decentralized finance (DeFi) platforms to NFTs.

The framework is highly flexible, offering users the ability to configure their rollups for various use cases while still benefiting from Shibarium’s main infrastructure.

The process to create a rollup on the Shib Alpha Layer is simple. Developers can configure their rollup, choose between the mainnet or testnet, and launch it. Once the rollup is launched, $TREAT tokens are used to manage and activate the rollup. Developers can stake $TREAT tokens to initiate the rollup and unstake them when needed. This setup aims to make it easier for projects to scale their operations on Shibarium.

Shiba Inu Price Trend Amid Market Volatility

While Shiba Inu’s development team continues to make strides in improving the Shibarium ecosystem, the SHIB token faces challenges in the broader market. Recently, the cryptocurrency has experienced a decline in price, with SHIB trading at $0.00001263 as of press time. This drop represents a 27% decrease from its highest point earlier in the year and a 62% decline from its peak in November.

One of the key factors behind this downturn is the reduction in confidence among large investors, also known as whales. According to data from Santiment, whales holding between 10 million and 100 million SHIB tokens have reduced their holdings by 9 billion tokens since the start of the year.

Similarly, investors with holdings between 100 million and 1 billion tokens have also trimmed their portfolios. This trend suggests a cautious outlook among big investors and a potential challenge for Shiba Inu’s long-term growth.

SHIB Derivatives Market Trend Hint at Bearish Trend

The latest data from CoinGlass indicates that Shiba Inu’s open interest (OI) in derivatives has dropped by almost 3%, with a current value of $172 million. This decline in OI reflects a reduction in trading activity and investor interest in SHIB derivatives.

Furthermore, the liquidation of long positions has increased, with nearly $331K in bullish positions being wiped out in the past 24 hours. This shift in market sentiment has led to a decrease in optimism surrounding the SHIB token.

Despite this, there are still some indications that traders are active in the market. The OI-weighted funding rate remains at 0.0084%, suggesting that some investors are still willing to pay rates to align the derivatives and spot market prices. However, the overall trend points toward a more bearish outlook for SHIB price, with market participants reacting to the decline in whale holdings and the broader cryptocurrency market downturn.

Marketing Lead Warns Against Fake Tokens

Besides technical changes and market movements, the marketing team of Shiba Inu has also provided a disclaimer about the surge of fake tokens in the Shibarium ecosystem. Lucie, took to social media to issue a warning to users to exercise care and not to become victims of scam tokens.

She stressed that it is crucial to check the token addresses using official resources and remain updated to ensure one does not become a victim of fraud.

Lucie also reposted an image of official Shiba Inu tokens, SHIB, BONE, LEASH, and TREAT, with the reminder to the community to “Stay SAFE” and “DYOR” (Do Your Own Research). As a reminder to its users, she added that although SHIB was originally issued on the Ethereum blockchain, it is now on Shibarium and any newly minted tokens must be thoroughly examined to verify their authenticity.