2023-01-19
Shiba Inu is an Ethereum-based token that use Shiba Inu, a Japanese
dog as its logo. Between January 1, 2023 and January 12, 2023 Shiba Inu price
was up 36.7%. What’s going on with Shiba Inu? Shiba Inu developers released beta
version of Layer 2 network on January 16, 2023. The layer 2 network is called
Shibarium.
Shibarium is an Ethereum-based layer 2 blockchain. Bone tokens will
be gas tokens for Shibarium. All transactions on layer-2 blockchain will burn Shib
and use Bone for gas. Validators will get rewards with Bone. Bone tokens are
governance tokens of the decentralized exchange Shiba Swap and it is also the governance
token of Shiba DAO.
Be aware of your upside. Shiba Inu is already the 13th
largest cryptocurrency by market cap, making it difficult to gain 10x profit.
However, Shiba Inu still has an upside because all transactions on Shibarium
will burn Shib and use Bone for gas fees.
For more information about Shibarium visit blog.shibaswap.com/introduction-to-shibarium/
