Shiba Inu Community Keeps its Last Hope on Shibarium Upgrade! Why?

Shiba Inu investors are highly optimistic about Shibarium upgrade to increase the cryptocurrency price.

Shiba Inu (SHIB) one of the hottest cryptocurrencies in recent times in this highly volatile cryptocurrency market. Shiba Inu investors are highly optimistic about this newly found Shib burn strategy and Shibarium to increase the cryptocurrency price. This will help this cryptocurrency to reach one of the cryptocurrencies in the top ten list. Thus, Shibarium upgrade has become the last hope in 2022 for millions of Shiba Inu investors. Let's explore the reason why Shibarium upgrade is crucial for Shiba Inu investors.

With the Shiba Inu ecosystem continuing to grow through its expansive SHIB roadmap, projects such as SHIB: The Metaverse and the Shiba Inu game will add to an already extensive network. However, for several other projects in the works, they will all rely on Shibarium.

What Is Shibarium?

Shibarium is a blockchain/layer-2 solution first proposed by Ryoshi, the creator of Shiba Inu Coin. Once it launches, SHIB tokens will be migrated to the L2.

Ryoshi initially used the phrase blockchain, Shibarium is more likely to be an L2 that sits on top of an already existing (Ethereum) blockchain. The SHIB creator said: "The line between an L2 and own blockchain is thin, I mean what is the difference really between Matic L2 and BSC?"

It's worth noting here that Shibarium is not its own blockchain, nor does it mean there is a Shiba Inu 2.0 token coming. SHIB will remain connected to Ethereum.

One of the primary goals will be to lower transaction fees for those in the Shiba ecosystem.

Ryoshi first said that Shibarium's transaction fees will be minimal, or even zero. Speaking on the Shiba Discord, Shytoshi Kusama, the Shiba Project Lead, said "Shibarium will offer low fees for every service, game or whatever that builds on it."

Introduction to Shib burn strategy

Shib burn strategy is calculated with three special addresses including two dead wallets and tokens to the Genesis address. It helps to reduce the supply while increasing the demand for this crypto out of thousands of cryptocurrencies. It is crucial to keep a higher cryptocurrency price in this highly fluctuating cryptocurrency market. SHIB investors are hoping that the coin-burning strategy might get this cryptocurrency out of the trouble in this cryptocurrency market.

Shiba Inu was introduced in this cryptocurrency market as a memecoin. But it transformed itself into a valuable crypto asset to be in the crypto wallets of Shiba Inu investors. They are gradually losing hope for the constant low price when other cryptocurrencies are rising their prices efficiently and effectively. This cryptocurrency holds substantial growth potential with this Shib burn strategy.

Why are Shiba Inu investors so pumped about Shibarium?

The layer-2 solution will bring several benefits to the table. Most importantly, the launch of Shibarium will usher in lower transaction fees. SHIB is built on top of the Ethereum (ETH 3.98%) blockchain. As a result, its gas fees have been much higher than anyone would like. The developers behind Ethereum are working to address the issue with a major upgrade. However, Shibarium could solve the problem for Shiba Inu even more quickly.

Another thing that Shiba Inu investors eagerly await with Shibarium is a burning mechanism. There are currently over 549 trillion SHIB tokens in circulation. The only way to reduce this number is to burn existing tokens.