The SHIB (Shiba Inu) token is the seed of the Ethereum network – an alternative to DOGE (Dogecoin). SHIB is more or less the opposite of Bitcoin in terms of availability. While BTC rarely makes it to the crypto market, the SHIB token flows heavily.
This is evident in the total supply of 1 quadrillion, although the community plans to drop this figure. Also, its ecosystem is a good ground for various projects. Some of these projects are creating a decentralized exchange known as Shibaswap and storing NFT wisdom.
The SHIB team recently launched a game called Shiba Eternal. However, further updates on the game from the developers are still pending.
The developers revealed that they will be releasing more updates on Shiba Eternity, which launched on Thursday. An event comes with the announcement of the community. But the expected update from the developers is becoming a topic of discussion on Twitter.
This is because of the pre-configured Twitter Spaces. Community members share their thoughts about the Shiba Forever project. Further updates will come from SHIB token founder and lead developer, Shytoshi Kusama and William Volk. They intend to release these updates on SHIB official Twitter page.
A brief description of Shibarium development
A Layer-2 blockchain network from SHIB developers is currently in the pipeline. This blockchain is known as Shibarium, and is intended to reduce the workload of building blockchain ecosystem applications. The primary beneficiaries of this new development are developers and users.
The idea behind Shibarium’s layer-2 network is similar to the Ethereum blockchain network. The reason is that both networks support developers of decentralized applications (DApps).
The idea behind the project is to reduce marketing costs for games. This is possible because the project serves as a premium layer-2 for the community and SHIB token.
A quick look at Shiba Inu prices
Considering the current depressed state of the crypto market, it is not surprising that the value of the SHIB token is decreasing. This is evident from market watch over the last four weeks.
The token has now reached the same price as it did three months ago. There are no signs of a liftoff anytime soon. The same can be said about the entire crypto market.
But an update from Shitoshi Kusama’s upcoming community project SHIB token seems to raise the hopes of many fans. Because of this, many investors are looking at the value of SHIB token. The digital token is currently trading in a bullish trend.
Featured image from UnSplash, Chart: TradingView.com