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USD in the last 7 days as we anticipate the beta launch of the layer 2 (L2) scaling solution Sibarium. The developer announced on January 15, 2023 that he will launch “Sivarium Beta,” his L2 platform on top of the Ethereum blockchain to provide greater scalability, faster transaction times, and lower fees. ‘ is about to start.
SHIB Token Market Reacts Favorably to Upcoming Sibarium Launch
Shiba Inu (SHIB) ” is also known as is excited about the launch of his Shibarium, a new Layer 2 scaling solution created for the SHIB crypto ecosystem. Shibarium’s launch hints started last year, as he was originally scheduled to launch in the third quarter of 2022. In 2022, members of the SHIB community have hinted that the project launch is getting closer by the day. On January 15, 2023, the SHIB team publishedblog postentitled “Introducing Sibarium: Shiba Inu’s Layer 2 Network”.
A blog post claims that “Shibarium Beta is coming soon” and explains what people can expect from this release. The team stresses that Shibarium will be a phased release. The project’s native token, called BONE, will be used to “pay for gas transactions and reward validators and delegators within the Sibarium Protocol.” The team also notes that while there is a supply of 250 million in his BONE, “20 million is reserved for rewarding validators and delegators in the coming years.”
ERC20 Meme Tokens Shiba Inu (SHIB) are up on Cibarium News last week asSHIB rose 19.3% against the US dollar. Over the last 24 hours, BONE is up 11.1% and BONE is up 16.1% this past week. Despite Sibarium’s beta launch, many other meme tokens have seen bigger gains, like floki (FLOKI), which surged 26.4% this week.
Meme token let’s go brandon (LETSGO) is up 71.6% over the past 7 days, while shibavax (SHIBX) is up 55.9%. Metadoge (METADOGE) gained 41.5% this week while Hoge Finance (HOGE) gained 30.5%. Dogecoin (DOGE), the godfather of memecoins, is on a modest rally this week, rising 13.6% against the US dollar.Meme Coin Economyis down across the board as it has lost 3.5% in value over the last 24 hours.
Image Credits: Shutterstock, Pixabay, Wiki Commons
