The Shiba Inu (SHIB) ecosystem has achieved a major milestone with the successful launch of its layer two scaling solution, Shibarium. Lead developer Shytoshi Kusama has invited the Shibarmy to test the network and proceed with caution. As of Monday, the network has facilitated more than 371k transactions and over 66.99K wallets have been created.The Shibarium network offers features such as bridging ability with the Ethereum ecosystem, token delegating, and validator option. The validator option, which allows users to apply for the position, is expected to be launched soon and will help the second-largest meme coin obtain more decentralization.The launch of the Shibarium network is expected to increase the Shiba burn rate exponentially in the future. Currently, about 41 percent of Shiba Inu’s total supply, valued at approximately $3.2 billion, has been burned.The Shiba Inu market is expected to benefit from the Shibarium launch as it will increase its overall demand amid the mainstream adoption of digital assets. Trading around $0.0000079 on Monday, Shiba Inu price was down about 25 percent in the past two weeks, to a total market capitalization of about $4.6 billion and 24-hour trading volume of approximately $82 million. Shiba Inu price is well positioned to rally as high as 1 cents in the coming crypto bull markets, with the increased network utility.

This News Article was automatically generated by Bob the Bot(AI)

Information	Details
Geography	Global
Countries
Sentiment	neutral
Relevance Score	8
People	FINRA, Shytoshi Kusama, FAC
Companies	Shibarmy, FAC, Shibarium, FINRA, Polygon (MATIC), eToro, Shiba Inu
Currencies	ethereum (eth), bone, shiba inu (shib), bitcoin (btc), polygon (matic).
Securities