Since the middle of the week, SHIB, the main token of the Shiba Inu ecosystem, has been doing very well compared to its main competitor, Dogecoin. Since November 2, the value of SHIB has gone up by 13% against DOGE. One Shiba Inu token now costs 0.0001 Dogecoin.
Trading View is the source.
But even though there were big gains in the middle of last week, it’s best not to look at the chart from the week before. When news came out that Musk had bought Twitter, the price of SHIB fell by almost 40%, even though its price against the dollar had gone up by 30%.
“Wen Shibarium?”
Shiba Inu’s Layer 2 blockchain, Shibarium, could go up in price if more information about it comes out. First of all, the project’s main developer said that after Shiba Eternity came out, the team is now focusing all of its attention on Shibarium.
Then, later in the week, a member of the Unification Foundation who was also involved in making the protocol confirmed the information. Satoshi Kusama’s comments were confirmed by the product manager at Unification, who said that the alpha version of Shibarium is updated every day.
Shibarium, which was originally supposed to come out in the third quarter of this year, is expected to take the ecosystem to the next level and make it easier to use not only SHIB but also tokens like BONE and LEASH.
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