SHIB users are about to avail new functionalities as reduced gas fees by Shibarium. As ShibaInu (SHIB) had started itself as ‘meme’ isn’t a joke now in cryptocurrency world. It was inspired by a dog meme and had posed as ‘Dogecoin Killer’, SHIB’s value had reached the heights by 2021, but SHIB developers desired to wave off the tag of ‘memecoin’ with launch of their own Blockchain named Shibarium.
Shiba Inu’s Decision
SHIB had planned to provide its users reduced gas fees, which is otherwise used for paying to validate and process transactions in a crypto ecosystem and so has resulted in being a big problem for the blockchain. Therefore as discussed above, SHIB aimed at launching its own blockchain and own stable coin on the blockchain named SHI which would run its gas fees on the site itself. This would result in improving the network performance and would also establish SHIB as one of the precious digital coin. Still no exact date is being mentioned for the launch of new development.
The founder of Shiba Inu (Ryoshi) had on Medium mentioned, “ I have already spoken to a very competent blockchain team who has volunteered to build and fully decentralize this for the Shiba ecosystem.”
At present, although Shiba Inu works on the Ethereumblockchain and with its demand going up, it’s developers are having fear that people might bring their hands back from trading in the coin. As, currently each transaction on Ethereum costs around $9.1, where Shibarium wishes to bring it down to as low as possible.
SHIB As Most Viewed Crypto In 2021
SHIB apparently became the most viewed crypto in 2021, going across the likes of Bitcoin and also Ethereum, also announced cryptocurrency to be the price-tracking website (CoinMarketCap). Where as per CoinMarketCap, the Dogecoin spin-off had recorded for a hike of more than 188 million views in a tenure of last 12 months. On the other hand, apex cryptocurrencyBitcoin had stood up second, having 145 million views in 2021. The basic point to be marked and to be kept in notice is SHIB holding 13th largest cryptocurrency rank in the entire world, holding market cap of around $20 billion.
As mentioned earlier SHIB popularity in the cryptocurrency world was majorly cause of two reasons, first to be famous billionaire Elon Musk’s tweet with a photograph of Shiba Inu meme going to moon and secondly, the news which assured it’s listing on one of the famous stock trading app, Robinhood.
Therefore, in addition to these reasons, rise of Shiba Inu is expected much cause of its aim of launching its own blockchain on the network and reducing the gas fees. This would take the Shiba Inu coin to a hike and people would end up in investing in it further.
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