The Shiba Inu community is eagerly anticipating the beta launch of Shibarium, the largest meme coin’s most significant upgrade to date. Designed to support scalable Web3 protocols, Shibarium is set to enable seamless onboarding for Web3 users, including metaverse and NFT enthusiasts.
Lead developer Shytoshi Kusama has hinted that the beta launch may occur before the end of this week, which has led analysts to forecast a spike in demand for Shiba Inu tokens in the coming quarters.
Ethereum’s whales have also dramatically increased smart contract interaction with the meme coin, ranking it fourth in the past 24 hours on most used smart contracts by the top 2000 Ethereum whales, according to data by whalestats.
To read the Shiba Inu community for the upcoming launch, the Shibarium telegram official account has been locked from further messaging by Shytoshi until all documents are released. With the increased network hype, the underlying SHIB value is expected to rise following the Shibarium beta launch.
Does Shib Have A Bright Future?
As the new year crypto rally has reduced the initial momentum, some analysts anticipate an imminent price correction. However, the Shiba Inu bulls are looking to Shibarium to initiate more utility on the network and provide upside potential.
Additionally, with regulators aiming to control the speculative nature of cryptocurrencies, utility is expected to play a more significant role in future bull markets.
