The Shiba Inu ecosystem has been consistent with its updates as developers have been working hard at it. According to the official Shiba Inu blog post, the primary financial components, Shibarium, SHI and SHIBFE, are underway and shall be soon completed.The blog post has updated about the ecosystem’s developments which are in alignment with ‘Riyoshi’s Vision’. Riyoshi is the project’s anonymous founder.Shytoshi Kusama, the lead developer of Shiba Inu has decided to stay tightlipped about the accurate dates and when the developments would be out in the forefront, however, he mentioned in the blog post that he expects to see one or multiple technologies before the end of summer or early fall.This blog post comes right after Shiba Inu concluded the first and second phases of land sale on the Shiba Metaverse.Shibarium is SHIB’s layer 2 blockchain for Ethereum (utilizing $BONE) which is considered to be the cornerstone for all other projects that are under development.
SHI is Shiba Inu’s stable coin solution. Regarding the development of the same, the blog post mentions that “Timeline: TBD Finishing development and going into testing soon.” It also mentions that the Shibarium Financial Development is tied closely with SHI development.
Too many variables
I think that there’s a good chance that the upcoming launch of Shibarium will provide a big catalyst for Shiba Inu. Lower transaction fees along with the projects built atop the layer-2 solution could attract more investors. Use of the burning mechanism on Shibarium could remove tokens from circulation and drive SHIB’s price higher.The problem as I see it, however, is that there are too many other variables at play that impact Shiba Inu. Most importantly, the overall environment for cryptocurrencies needs to improve dramatically for the digital token to really take off.I’d love to be able to say that such a positive shift is right around the corner. But the reality is that there are few reasons to be so optimistic right now.Shibarium could very well be a game-changer for Shiba Inu. Unfortunately, the crypto game involves a lot of other moving parts.
