Less than 24 hours ago, the official Shiba Inu (SHIB-USD) account on Twitter made a huge announcement. The news? The public beta version of Shibarium is apparently launching this week. As a result, the SHIB crypto is racing higher as traders assess the implications of the tweet.
Shiba Inu is a low-priced token (currently trading for $0.0000115) and a blockchain-based ecosystem. Dog-themed digital tokens have struggled to earn credibility and legitimacy. Clearly, Shiba Inu’s developers are working diligently to address this issue.
In a tweet addressed to the “#SHIBARMY,” the Shiba Inu Twitter account declared that the “Shibarium Public Beta” will launch this week. The social media post continued:
“Make sure you’re following our official socials over the next few days as we reveal all the details on how to access the beta website. Hail Shib! #ShibariumBeta.”
The tweet garnered more than 750,000 views by 11:00 a.m. Eastern today. How did cryptocurrency traders respond to the Shibarium announcement, though?
What’s Happening With the SHIB Crypto?
The response seems to be overwhelmingly positive as the SHIB crypto rallies more than 6% as of this writing. Undoubtedly, crypto investors are pleased with the Shibarium-related tweet.
Without delving too far into the technical minutiae, a report from CoinDesk explains that the Shibarium blockchain update could potentially “reduce bottlenecks with scaling and data” within the network. This may help facilitate more efficient transactions for metaverse, non-fungible token (NFT) and gaming applications.
Additionally, another report suggests that the Shibarium launch “will make SHIB transactions faster and cheaper.” All in all, the Shibarium update could enhance the “attractiveness” of the Shiba Inu ecosystem for developers and other participants.
To top it off, the replies to the tweet were also generally positive. So, it looks like the Shiba Inu “army” is enthused about the beta launch and ready for it to happen as soon as possible. Meanwhile, the SHIB crypto remains low-priced but is definitely moving higher today.
On the date of publication, David Moadel did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.