Shiba Inu launches beta version for Shibarium this week, price rises

Shiba Inu (SHIB) is working hard to improve the reputation of memecoin to shake off. This week will be a big step towards that. The protocol will launch the beta version of Shibarium, the ‘layer 2’ solution for the network. This layer 2 blockchain must drastically scale up the capacities of the network.

SHIB no more memecoin?

The past bull run SHIB was perhaps the most surprising memecoin on the market. SHIB’s dizzying price increase may have surprised not only the crypto world but also the Shiba Inu team itself. The project now has big plans and wants to become a major player in the metaverse and gaming sector.

The layer 2 solution Shibarium must offer the possibility of transactions off chain ie outside the main network. This should improve Shiba inu’s abilities. Should the beta version, launching this week, be a success, the full release of the layer 2 solution is said to follow soon.

Due to the Shibarium announcement, SHIB’s share price is up more than 4.5% today, while the rest of the market is quite red. The related bone shibaswap (BONE) is up more than 20% today. The cryptocurrency briefly entered the top 100 today for the first time.

Is Sam Bankman-Fried secretly behind Shiba Inu?

This week, the memecoin also made headlines with other striking shiba inu news. An investigation by Coinbase CEO Conor Grogan linked ex-CEO of FTX, Sam Bankman-Fried, to Shiba Inu.

The true identity of the anonymous founder of Shiba Inu is unknown, but Grogan says there are indications that it is Bankman-Fried.

Grogan found multiple connections between the founder of SHIB and FTX. For example, the founder has an account on NFT marketplace OpenSea with the name ‘ALAMEDA’, the same name as FTX’s sister company.