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- Shiba Inu lead developer Shytoshi Kusama confirmed the team is onto something big and will be released soon enough.
- With the recent crypto bullish sentiments, Shiba Inu’s price has gained approximately 16 percent in the past week to trade around $0.0000079.
As a top-rated meme coin with more than 1.3 million holders, Shiba Inu (SHIB) sends shockwaves to the cryptocurrency market every time the lead developer Shytoshi Kusama hints on upcoming projects. Moreover, the Shiba Inu price rallied over 1000X during the 2021 crypto bull market fueled solely by speculation like its predecessor Dogecoin (DOGE).
According to the latest crypto market data, Shiba Inu’s price gained approximately 16 percent in the past seven days following the Bitcoin reversal towards $31k. Undeniably, the entire crypto market has turned bullish in the past few days following increased interest from institutional investors. Moreover, several investment management firms like BlackRock have filed for a Bitcoin EFT, which signals a new era of crypto adoption.
Shiba Inu Core Developer Hints Something Big Soon
The Shibarmy has eagerly been waiting for the Shibarium layer two launches in order to add fuel for the next crypto bull rally. In a tweet conversation, a member of the NFA Labs noted that the Shiba Inu ecosystem has a bright future. The statement was echoed by lead developer Kusama that the Shiba Inu team is serious about quality products for the community.
Now that I know theres ndas, I feel bad about some of my speculatory tweets. Maybe I should tone it down 🫣 Just say the word sir.
— Ringoshi Tōitsu ⚛️ (@RingoshiToitsu) June 22, 2023
While their statements did not issue any timeline or the exact product, the Shiba Inu community understands Shibarium layer two is the largest project in the pipeline. Moreover, the Shibarium layer two has been going through its beta early beta test since March 11. The layer two blockchains is expected to increase Shiba Inu and other related tokens’ on-chain activity.
Among the most interesting feature of the Shibarium layer two blockchains is the SHIB burn mechanism, which will help increase the value of the existing tokens. Already, the Shiba Inu ecosystem has burned more than 41 percent of the circulating supply, which was significantly accelerated by the Vitalik Buterin burn and donation.
Meanwhile, Kusama recently hinted that he has a limited time with the Shibarium network. The lead developer hinted that the Shibarium network will be highly decentralized and not require any single particular input to survive.
The move comes amid concerns of a regulatory crackdown on crypto projects operating in a centralized manner but claims to be decentralized. Already, the United States Securities and Exchange Commission (SEC) and the Nigerian SEC have signaled that most of the digital assets are unregistered offerings.
Nonetheless, neither government have clarified how a crypto project that is used globally can be regulated under a single market. In this regard, Kusama will have helped the Shiba Inu community by providing a more decentralized governance mechanism to avoid his over-reliance on developments.
