Shiba Inu is already welcoming new crypto projects to its ecosystem based on its new L2 blockchain Shibarium.
Shiba Inu: lead developer shares new crypto projects built on Shibarium
Shytoshi Kusama, the pseudonym of the lead developer behind Shibarium, Shiba Inu’s L2 blockchain, shared on Twitter what has been discussed on Discord about new crypto projects coming to the ecosystem.
I’m looking forward to when more investors begin to understand what for since the beginnings I have called the “ecosystem” and “satellite” tokens.
Much like a tree there will be larger and smaller branches of what essentially is Shibarium as the trunk with #SHIB roots 💫🧡❤️ pic.twitter.com/5Iz2Gr49em
— NastyShib 💫🤍🧡❤️ (@NastyShib) January 25, 2023
On Discord, Kusama talks about the upcoming crypto projects on Shibarium:
“I’m so excited to see projects like F9, Ufo Mbet VXL and other tokens utilize Shibarium and our other platforms. That’s the point right?!”
The projects mentioned would be Falcon 9 (or F9), a launch platform designed to give developers a place to promote and launch new crypto projects.
Next, UFO Gaming which aims to be a decentralized gaming platform with the intention of bringing crypto into the world of eSports.
Shiba Inu: what is Shibarium?
Shibarium is the new layer 2 protocol built on Ethereum. A true Shiba Inu blockchain, at the levels of Polygon, Arbitrum and Optimism.
The goal of Shibarium is to enable people to launch crypto projects and custom tokens that are essentially built and powered by Shiba Inu (SHIB). So we talk about dApps, metaverse and even NFTs.
At the moment, the layer 2 blockchain has only been introduced to the public in its Beta version, but it has not yet been launched and yet the launch date is unknown.
And indeed, among the key concepts describing Shibarium, it is referred to as a collective blockchain, which scales and invites solutions, innovation and security into the DeFi space. In addition, transactions take place “off-chain,” that is, outside the layer 1 blockchain (Ethereum), and are communicated back.
The price of crypto Shiba Inu (SHIB) and the optimistic outlook
The news in the Shiba Inu household, has brought the price of SHIB back to its price three months ago, namely at $0.000011.
SHIB, like most crypto assets, suffered a price dump after the collapse of the FTX crypto-exchange, which saw SHIB’s price record a low of $0.000007.
In any case, the memecoin, also dubbed the “Dogecoin killer,” ranks 14th in market capitalization, with a total market cap of nearly $6.5 billion.
Recently, Shiba Inu was analyzed as a long-term investment and what emerged is that SHIB is one of the likely players in 2023, with bullish predictions in both the short and long term. This is according to market analysts who seem to be predicting a very rich future for the memecoin.
Specifically, the most significant increase for SHIB in 2023 will be the second half of the year. Price growth is expected to be modest, with the price reaching $0.000019, in a gradual manner and without exaggerated declines.
In 2024, on the other hand, when the bullish trend should definitely return, SHIB could grow to $0.000034. Analysts are optimistic and predict that the average trading price will be between $0.000025 and $0.000028.
Shiburn activity and the BurntSHIB and RYOSHI tokens
As of last year, Shiba Inu began to carry out the practice of Shiburn (burning Shiba Inu), namely the campaign to destroy SHIB.
With the aim of increasing the scarcity of SHIB and thus the value, thousands of Shiba Inu are burned every day. Not only that, in compensation for the burned SHIB, investors who voluntarily sacrifice part of the altcoin they hold receive BurntSHIB, which is an additional token.
Through BurntSHIB, the user accesses additional rewards that are bestowed with a third and final Token named after one of the founders of Shiba Inu, namely RYOSHI.
With this method, it thus primarily offers progressive appreciation of SHIB, an increase in value of BurntSHIB, and receiving RYOSHI with zero investment.
Last week, the burning rate of crypto jumped to 352% from the day before, with 37.3 million SHIB gone up in smoke.