KEY POINTS

  • The development team is making progress with Shibarium
  • The team will release the Shibarium documentation ahead of the L2 solution's launch
  • SHIB was trading down 2.70 percent at $0.000008203

The Shiba Inu development team is set to launch the Layer-2 solution Shibarium anytime this year and it appears that investors will not have to wait long since a new report claims it is currently in its final stage of development.

Shiba Inu lead developer Shytoshi Kusama dropped a major update on Shibarium a few days ago and confirmed in Welly's Discord its release. They also noted that they are "already in discussion to beef up efforts," suggesting it won't be long before the official launch of the Layer-2 solution.

Interestingly, after Kusama's update, the development team turned radio silent again about Shibarium. But, a Shiba Inu influencer who goes by the Twitter handle @SHIBAINUCRYPTON shared a new update that excites the community. 

shiba2 Shiba Inu Tokens Burned in Official Shib Burn Portal Photo: shibarmy.co/Shiba Army Official Website

"We know that #Shibarium is now in the final stages," the influencer said retweeting Twitter user @vetyusuf27 who is among the SHIB Growth team. It appears that there is no official release date given to Shibarium yet and according to the SHIB Growth member, "But now we know that the studies are in the final stages." 

Kusama previously said that before the team launches Shibarium, they will make its documentation publicly available. According to @vetyusuf27, these documents will include "wormhole, bridge, number of transactions per block and more details." They added, "but the most important point is how to use the Layer1 security system and what Layer2 will add to us."

The pseudonymous lead developer of Shiba Inu has told the community that after Shibarium is released, investors will see the full potential of the dog-themed altcoin, noting "I'm doing my best. After Shibarium, then we will really see the power of SHIB." 

The hype on Shibarium's launch has raised the price of $BONE, the governance token and the gas token of the upcoming Layer-2 solution. The launch is highly anticipated because of several benefits it will bring to the community, including scaling, low gas fees and a burning mechanism.

SHIB was trading down 2.70 percent at $0.000008203 with a 24-hour volume of $313,658,519 as of 3:17 a.m. based on the latest data from CoinMarketCap.