Shiba Inu (SHIB) is gearing up to skyrocket in the second quarter of 2022, thanks to hype around the project’s plan for a Metaverse. A few days ago, the Milkshake revealed that the developers’ team is working on upcoming projects like the Shib burn portal, Shibarium, and Shibaswap V2.
Shibarium coming to launch in upcoming months
Unification, a team working on the Shibarium project with Shiba Inu, shared that they are near a breakthrough. In a Medium post, they declared that Shibarium TestNet will be launched within the “upcoming months”. Unification also added that a public beta version of it will be released after the testnet.
However, the team did not mention a specific date. According to the post, Shibarium will work as the premium L2 for the Shiba Inu token and its community. It also added that this project will enable rapid low cost transactions made for gaming.
The team revealed that they are working on the second private Alpha TestNet. It will be used for developing the tools required for end-user interaction. The tools list includes the token transfer bridge, wallets, block explorers and many more. However, Unification will send some private invitations to trusted testers who will provide feedback to the team.
Whales and Shibarmy showing support for SHIB
Shiba Inu prices have seen a downward trend in the last 24 hours. However, it looks like the Ethereum (ETH) whales are buying the dip. According to the Whalestats, the SHIB token landed on the tally of the top 10 tokens purchased in the last 24 hours. The largest of the ETH wallets now holds around $13 billion worth of Shiba Inu tokens.
Despite the price drop, the SHIB token has managed to register a surge in its 24 hour trading volume by 39%. Meanwhile, the Shibarmy is also helping the coin to grow by burning huge amounts of coin. According to Shibburn, more than 185 million SHIB tokens were sent to a dead wallet in just 16 transactions in the last 24 hours. However, Monday alone has seen over 243 million Shiba Inu coins are burnt in just 4 transactions.
- Are Hedge Funds Planning USDT Dump? Tether CTO Responds To Rumors
- Here’s Why Apecoin (APE) Price Is Skyrocketing Today
- Crypto Prices Falling Despite “Buy The Dip” Sentiment, Data Reveals Why
- Institutional Traders Dumped Bitcoin At A Record Pace Last Week
- Terra USTC Jumps 300%; Lands Back In Top 100 Cryptos
- Ripple’s EX CTO Dumps 40 million XRP tokens In Last 10 Days
- Dogecoin Soars 35%, Here’s Why Breaking This Level Is Crucial
- Crypto Lender Nexo Denies Fraud, Issues Cease And Desist Notice
- Ethereum (ETH) Price Rise and Stability Pulls Broader Crypto Market to $1 Trillion
- Scoop: This Hedge Fund Is Trying To Bailout BlockFi To Counter FTX
- Tezos Price Analysis: XTZ Rebounds from Yearly Support; is it a good buy?
- Tron Price Analysis: Triangle Pattern Governs the TRX Price Action; Should Coin Holders Worry?
- Dogecoin Price Analysis: DOGE Winning Streak Aims to Reclaim $0.077
- Apecoin Price Analysis: Reversal Pattern Sets 21% Rise in APE Price
- Ethereum Price Analysis: Will ETH Relief Rally Revert From $1300?
- Bitcoin Price Analysis- Higher Price Rejection Hints BTC to Retest $20000
- SHIB Price Analysis: Overhead Supply Pressure Hints SHIB to Retest $0.00001
- Avalanche Price Analysis: Will The AVAX Breakout Rally Reach $30?
- Sandbox Price Analysis: U-shaped Recovery could Lead SAND above $1.5
- NEAR Price Analysis: Reversal Within Channel could Sink NEAR Below $3