- Dogecoin (DOGE) remains the largest meme coin in the world, but Shiba Inu (SHIB) has continued to develop its ecosystem.
- Shiba Inu’s Layer-2 scalability platform, Shibarium, and the SHIB the Metaverse project is expected to propel SHIB into the top-ten spot and potentially surpass DOGE.
Dogecoin and Shiba Inu gained massive popularity during the crypto bull run of 2021, but both faced strong correction during the broader crypto market sell-off in 2022. While DOGE remains the largest meme coin in the world, SHIB has continued to develop its ecosystem and bring new features to make it robust. The Shiba Inu developers are working hard to bring about key developments in the ecosystem to potentially surpass DOGE. Let’s take a look at some of these key developments.
Shibarium – Shiba Inu’s Layer-2 Scalability Platform
Shibarium is an upcoming and highly anticipated Layer-2 scalability platform for Shiba Inu. Its ultimate goal is to lower transaction speeds on Ethereum while reducing gas costs. The launch of Shibarium seeks to take the transaction load away from Ethereum, reducing the possibility of further congestion.
The Shiba Inu team is confident that Shibarium’s launch will cater to next-generation crypto solutions such as decentralized exchanges, the Metaverse, and blockchain games. Although the launch of Shibarium has faced multiple delays, the latest news is that the Shibarium Beta release will happen this week as confirmed by lead developer Shytoshi Kusama. However, Kusama has warned investors that tokens available during the beta stage are only meant for testing purposes, and they should refrain from investing until the mainnet launch. He also cautioned investors to be wary of fake Shibarium tokens circulating in the market.
SHIB the Metaverse Project
Another major development in the Shiba Inu ecosystem is its move into the emerging market of Metaverse. The “SHIB the Metaverse” project is not just another meme product but is likely to upgrade the project to a whole new level.
Upon launch, the Shiba Inu team unveiled an interesting slogan, “It’s Not a Meme -It’s A Movement.” The “SHIB the Metaverse” project will feature iconic virtual real estate, an online playground for VIP members, and Metaverse transport devices.
Shiba Inu has continued to develop its ecosystem with some strong features. With the upcoming launch of Shibarium and the “SHIB the Metaverse” project, it is possible that Shiba Inu could surpass Dogecoin to become the leading meme coin in the crypto sphere. However, it is important to note that the crypto market is highly volatile, and investors should always conduct their due diligence before investing in any cryptocurrency. Shiba Inu’s key developments show that the developers are working hard to make the SHIB ecosystem robust and bring new features to the market. As such, investors should keep a close eye on these developments.