Shibarium, Shiba Inu's Layer 2 solution, is now anticipated to be released'soon.'

 Shibarium, Shiba Inu’s Layer 2 solution, is now anticipated to be released’soon.’

The spectacular rise of the wonder memecoin Shiba Inu has been one of the year's biggest success stories. The cryptocurrency, which has increased over 44,622,335 percent this year, has been dubbed a challenger to the original Dogecoin. Needless to say, many people regard it as useless, in keeping with the concept of dog coins and shitcoins.

In fact, standard arguments against SHIB supporters include a perceived lack of use cases, development activity, and low public opinion.

In an effort to counter this negative perception and not become obsolete, the team behind Shiba Inu has been constantly evolving its ecosystem. In fact, ShibaSwap developer Eric M even gave an update on Shib’s layer 2 solution Shibarium’s progress on Discord recently, claiming that it will be launching “soon.” He further added,

“Those who trusted the project pre-swap were successful post-swap… A timeline is not needed when you trust a project. That’s how Shib has worked until now and will keep being like this.”

Announced in October, Shibarium was first proposed by Shiba Inu’s creator, Ryoshi. The blockchain/layer 2 will be built on top of the Ethereum network and will host not the high-performing SHIB or LEASH as its native token, but rather BONE so that it can be given a fair and fresh start.

Because Shiba Inu is an ERC-20 token, it is frequently affected by Ethereum's congestion issues. A scalable solution, such as Shibarium, could considerably reduce this. The goal is also to cut the hefty transaction fee down to zero, if possible.

Now that the SHIB ecosystem is expanding to include NFTs and blockchain gaming, scaling is more crucial than ever. Shiboshis, Shiba Inu's NFT collection, was first released in October to much fanfare and anticipation. Unsurprisingly, they sold out within 35 minutes of its debut, demonstrating the network's enormous appeal.

The NFTs will eventually be necessary to play Shiba Inu's planned metaverse gaming project, Oshiverse, which will be launched on the Shibarium layer-2 chain.

The network has been exploring for ways to beef up its developing ecosystem since introducing its own decentralised exchange, ShibaSwap, earlier this year. Ryoshi disclosed in a recent blog post that,

“We are working on so many aspects of Shiba Inu including Shibarium, Shi, Shibanet, The Decentralized Shiboshi Game, Incubator and much more that won’t become evident until the near future.”

This ecosystem-centric growth is helping SHIB stay relevant in the present cryptocurrency sector while also increasing its utility. An business that hasn't always been friendly to memecoins.

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