Will Shiba Inu Rally as Shibarium’s TestNet Nears Launch?

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It is expected that the value of Shiba Inu (SHIB) will soar in the second quarter of 2022. This is a result of increased interest in the proposed project of Metaverse. In addition, Milkshake said that the developers are working on new things like the Shib burn portal, Shibarium, and Shibaswap V2.  

The Launch of Shibarium in The Next Months

Team Unification, which works on the Shibarium project with Shiba Inu, says they are close to making a big step forward. In addition, they said that the Shibarium TestNet will be up and running, but not for a while. A public beta will also be released after the TestNet.

Nonetheless, the team did not reveal specific information regarding the release date. However, the post says that Shibarium will be the best L2 for the Shiba Inu token. Moreover, this project will make it easy to make low-cost transactions for games.

In addition, the team said that they are working on the second private Alpha TestNet. It will be used to make the tools that end-users need. Wallets, block explorers, and token transfer bridges are on the list of tools. Despite this, Unification will send private invitations to trusted testers who will give the team their thoughts on the project.

SHIB Is Being Supported by Whales and Shibarmy

During the last 24 hours, the prices of Shiba Inu have gone down a little bit. It seems like the Ethereum (ETH) whales are taking advantage of the downturn in the price. Statistics of Whalestats reveal that in the last 24 hours, people bought a lot of tokens called SHIB. The largest ETH wallet now has about $13 billion worth of Shiba Inu tokens in it.

As a result of the price drop, the SHIB token saw a 39% increase in its trading volume in the last 24 hours. There are also a lot of Shibarmy people who are helping the coin grow by burning a lot of it. On the last day, there were just 16 transactions that sent more than 185 million SHIB tokens to a burn wallet. That is not all. In just 4 transactions on Monday alone, more than 245 million Shiba Inu coins were burned.

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