Shiba Inu (SHIB) lead developer Shytoshi Kusama has shared new screenshots from the highly anticipated metaverse of the Shiba ecosystem. The news is not limited to this: the Shibarium public beta is now live.
SHIB founder shared another mysterious image of SHIB Metaverse
Shytoshi Kusama shared on Twitter that the SHIB team is preparing for the “best movie poster” competition for SXSW, an annual festival held in Texas, USA. The highly anticipated SHIB Metaverse will be screened at this important annual festival of independent film, media and music festivals. The poster shared by Kusama includes screenshots from the Shiba Inu Metaverse.
This poster for #shibthemetaverse is in a competition at #SXSW23 for best movie poster. #SHIBARMY, let @sxsw know what you think! (And yes that's a shot from inside the #metaverse!) pic.twitter.com/oz4t16wAgT
— Shytoshi Kusama™ (@ShytoshiKusama) March 10, 2023
Shiba Inu scaling solution Shibarium public beta is live
Prior to SHIB Metaverse, the public beta version of Shibarium, the long-awaited tier 2 scaling solution of the Shiba Inu community, was released. Lead developer Shytoshi Kusama announced the availability of the testnet for the first users in the evening of March 11th.
Introducing the Shibarium Early Public Beta! Find out about it, see the #shibthemetaverse WAGMI Temple area, and a a stop to the Ryoshi FUD here in this blog post. https://t.co/Dr3tAGl9PG
— Shytoshi Kusama™ (@ShytoshiKusama) March 11, 2023
The first beta testnet will be called puppynet, and Kusama describes its scaling solution as a layer-2 blockchain that allows anyone to build dApps, integrate into real-life businesses, and power their projects. Shibarium will also support SHIB token burns.
“Not all tokens on Puppynet are REAL”
In a warning from Kusama, all tokens of users on Puppynet were recommended. Since projects can apply to be part of the testnet, the lead developer candidly stated that many projects will not survive and users must Do Their Own Research (DYOR).
Will Shibarium speed up the SHIB price or is this a ‘sell the news’ event?
After the public beta was announced, Shiba Inu price made a comeback above the $0.00001034 level, erasing its recent losses. Meme coin technically has bullish potential and could start to recover. However, numerous factors need to be considered that could negatively impact crypto prices and investors, including the Silicon Valley Bank collapse, the Silvergate FUD, and inflationary pressures.
Meanwhile, according to Santiment, SHIB posted a very positive rise on the weighted sentiment metric. This indicates that investors’ outlook for the asset is improving, which could support a potential recovery.
However, active deposits also increased. This data shows that more SHIBs are moving to centralized exchanges for unloading. In summary, it could be a sign of short-term selling pressure. However, a rebound is possible if BTC retraces the $20,000 level and moves higher.
Shiba Inu ecosystem tokens are also rising
Shiba Inu’s management token, Bone ShibaSwap (BONE), was listed on a number of centralized exchanges during the week, as quoted by Kriptokoin.com. BONE price, which initially rose in double digits, is moving sideways at the time of writing.
29326
