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Bulletpoints:
-Lead developer Shytoshi Kusama confirms billions of SHIB coins will be burned with the release of the Layer 2 platform Shibarium.
-The Shiba Inu community eagerly awaits the launch of the Shibarium Beta.
-Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins.

The Shiba Inu (SHIB) community is eagerly awaiting the launch of its Layer-2 scalability network Shibarium, with the lead developer Shytoshi Kusama recently confirming on discord that trillions of SHIB coins will be reportedly burnt with the release of the platform. As the crypto tracking platform Whale Alert recently detected a single transfer of 3,312,307,240,798 Shiba Inu meme coins, the Shiba Inu community is hopeful that the burn rate of the memecoin will increase with the release of the Shibarium.

Currently, Shiba Inu (SHIB) has been exchanging hands at $0.00001153 and is 0.43 percent down. The one thing that’s holding up Shiba Inu from performing well is the massive supply and the decline in the burn rate of the memecoin. However, with the upcoming launch of Shibarium, things are looking up for the Shiba Inu community.

The beta launch of Shibarium has been teased quite a few times recently and is expected very soon. On Thursday, the SHIB price rallied by 4 percet, however, fails to continue the momentum. The dog-themed crypto is still trading down from last week’s high of $0.00001273 when the SHIB price had jumped 20 percent in a day.

With the confirmation of the lead developer, the Shiba Inu community is expecting the burn rate to increase and the SHIB price to reach and even exceed the previous high of $0.00001273 and some even speculate that the SHIB price could reach as high as $0.01. Only time will tell how the SHIB price will behave and the Shiba Inu community is excited to see the impact of the Shibarium launch on the SHIB price.

Follow us for the latest crypto news and updates on the Shibarium launch and its effects on the SHIB price.