Shiba Inu (SHIB) overtakes Dogecoin (DOGE) as a powerful trigger in the form of Shibarium emerges.
The main token of the Shiba Inu ecosystem, SHIB, has been performing impressively against its main rival Dogecoin since the middle of the week. Since Wednesday, November 2, SHIB has gained 13% against DOGE, now trading at 0.0001 Dogecoin per Shiba Inu token.
However, despite the strong advances in the middle of last week, it is better not to open the previous week’s chart. SHIB then fell nearly 40% on news of Musk’s purchase of Twitter, despite its price rising 30% against the dollar.
The emergence of new details about Shiba Inu’s Layer 2 blockchain, Shibarium, could be a trigger for SHIB’s price. First of all, the main developer of the project announced that after the release of Shiba Eternity, the team is now fully focused on Shibarium.
Then, later in the week, the information was confirmed by a member of the Unification Foundation, also involved in the construction of the protocol. Unification’s product manager confirmed Shytoshi Kusama’s comments and said that the alpha version of Shibarium is updated every day.
Originally planned for the third quarter of this year, Shibarium is expected to take the ecosystem to the next level and expand the use of not only SHIB, but also all other relevant tokens like BONE or LEASH.