Shiba Inu Price Pumps 20% to $0.00001262 - Why its Shibarium Layer 2 Launch is Such a Big Deal

cryptonews.com:

The Shiba Inu price has risen by as much as 20% today, buoyed by the imminent arrival of layer-two network Shibarium. At $0.00001210, it's currently 15% up in the past 24 hours and by 31% in a week, with the meme token also posting a return of 41% in the last 30 days.

Shibarium is a layer-two network specifically for Shiba Inu, and it's excited the market precisely becuase its launch will help the Shiba Inu become faster and cheaper. And combined with the long-awaited SHIB: The Metaverse, its arrival promises to make 2023 a very profitable year for SHIB holders.

SHIB's chart seems to suggest that the altcoin has gone more or less parabolic, with its relative strength index (purple) about to reach 90. Likewise, its 30-day moving average (red) has turned upwards and is likely to overtake its 200-day average, signalling a breakout to a new longer term level.

As mentioned above, anticipation surrounding the upcoming launch of Shibarium is the main reason for SHIB's recent gains. According to a January 15 update from developers, the layer-two network for Shiba Inu is "about to be launched" in beta form, implying that it could be a matter of days away.

According to the latest blog on Shibarium, the layer-two solution will run on top of the Ethereum blockchain, which is what SHIB currently uses. Its aim is to provide "the benefits of scalability, faster transaction times, lower fees, and an expanded development framework," with the network focusing primarily on such areas as the "metaverse, web3 innovation, and gaming."

Basically, the arrival of Shibarium marks Shiba Inu's transition away from a gimmicky meme token and towards a more substantial cryptocurrency ecosystem, in which actual projects will be built and will offer genuine