Shiba Inu has been an ERC-20 token since its beginning, and few people cared until Shiba Inu became what it is today.
This year’s memecoin acceptance rate has beyond estimates and beliefs, resulting in much larger network usage and involvement, and Shiba Inu will require more than what it already has.
The Shiba Inu carves its own path.
To keep up with the increased demand, the network just introduced Shibarium, its own layer-2/blockchain, and plans to migrate the entire network to it.
Shiba Inu will also develop its own stable coin on the blockchain called SHI, as well as administer its gas costs on the site using the BONE token. All of these announcements followed the creation of the cryptocurrency network’s own announcement site.
All of this demonstrates how seriously Shiba Inu takes the development of its ecology. And this has the potential to increase network performance while also establishing SHIB as a valuable digital asset.
Because Ethereum’s fee troubles persist, it’s only reasonable that individuals would accept a method to reduce the cost of their pricey transactions. Currently, every transaction on Ethereum costs more than $9.1, with L2 transaction fees reaching as high as $86. Shibarium strives to reduce this as much as feasible.
Shibarium could thus work if this factor is taken into account. Furthermore, the asset’s value skyrocketed this year. Not only did the price increase by 1035 percent in a month, but the asset was once ranked among the top ten cryptocurrencies.
Gas prices are being scrutinized.
Furthermore, emancipation from Ethereum’s fee concerns may lead to increased interest in the network from both institutional and retail investors. A low-cost digital asset with a low transaction cost is bound to gain in value.
That is also when we might see more Shiba Inu addresses get serious about the coin, as only half of all addresses now have any SHIB with them.