Shiba Inu: Shytoshi explains the Possible Outcome post-Shibarium

Vinod Dsouza
shibarium shiba inu
Source: Pixabay

The lead developer of ShibaSwap, Shytoshi Kusama held a Q&A session previously on Discord, answering questions by the community members. Shytoshi spoke in length about the future of Shiba Inu giving updates about its upcoming releases and developments. He stated in the Q&A session that SHIB will “continue to grow” as it “gets more recognition and eyeballs.” However, as per Shytoshi, Shiba Inu has still not hit its peak and it may reach different heights after Shibarium is released.

Also Read: Will Shiba Inu Reach ‘1 Cent’ in 10 Years From Now?

Shibarium could be a gamechanger for SHIB as it could scale up the price of the token sustainably. When asked what could happen to Shiba Inu when Shibarium is released, Shytoshi responded, “I’m doing my best. After Shibarium (release) then we will really see the power of SHIB.”

According to Shytoshi Kusama, the real power of Shiba Inu could be unleashed for the world to see when Shibarium is released.

Source: Discord / Shiba Inu

Nonetheless, Shytoshi did not reveal a tentative release date for Shibarium and kept its launch date under wraps. It is reported that Shibarium ‘documentation’ might be released, as Shytoshi confirmed its release as “soon” on Twitter.

Also Read: What Will The Price of Shiba Inu Be in 2050?

Moreover, Unification, the firm that’s building the Shibarium layer-2 network confirmed that the development is in its second private testnet. The public testnet is yet to be released. Read here to know more details about Unification’s work on Shibarium.

How Shibarium Can Help Shiba Inu to Scale Up

Shibarium is a layer-2 network built on top of the Ethereum blockchain. It aims to reduce high gas fees for transactions. Reports suggest that the gas fees could be low and some transactions can be completed with $0. This would attract buying pressure for SHIB and scale up its trading volume.

In addition, the team is reportedly working on an in-built ‘burning mechanism’ in Shabirum that would remove tokens from circulation. It is reported that Shibarium might charge a small transaction fee that would then be used to ‘burn’ the tokens.

Also Read: Shiba Inu ‘Burn Rate’ Intensifies, Surges 350% in 24-Hours

Over the years, a considerable amount of tokens would be removed from circulation and make the token scarce. This development can put SHIB on the path of heading towards the direction of $0.01, over the years.

At press time, Shiba Inu was trading at $0.00000831 and is up 4.1% in the 24-hours day trade. Also, the dog-themed token is down 90.4% from its all-time high of $0.00008616, which it reached in October last year.