Memecoin Shiba Inu Plans To Launch It's Own Blockchain Soon

Shiba Inu, the cryptocurrency that started off as a ¡®memecoin¡¯ around August 2020, is aiming to shrug off this tag and launch its own blockchain called Shibarium, along with its own Decentralized Autonomous Organization (DAO) in 2022.

Aim Behind The Move

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Also Read: Missed Out On Shiba Inu Or Dogecoin In 2021? These Coins Could Be The Next Big Crypto In 2022

The Blockchain Shibarium is expected to provide Shiba Inu users with new functionalities such as reduced gas fees. For the uninitiated, the gas fee is a payment made to process and validate transactions in a crypto ecosystem and has supposedly become a huge problem for the blockchain.

Creators of Shiba Inu also aim to launch their own stable coin on the blockchain, which will be called SHI and run its gas fees on the site. This step could actually improve the network¡¯s performance, besides establishing Shiba Inu as a vital digital coin. But there is no specific timeline yet for the launch of this new development.

At present, Shiba Inu functions on the Ethereum blockchain, and every transaction on Ethereum costs over $9.1, which the new blockchain Shibarium aims to bring down.

Also Read: Abandoned Shiba Inu Named Deng Deng Gets Auctioned & Sells For Rs 18 Lakh In China

The Most Popular Crypto of 2021

Looking back at 2021, Shiba Inu was reportedly the most viewed and most popular crypto in 2021, beating the likes of Bitcoin and even Ethereum, as per cryptocurrency price-tracking website CoinMarketCap.

As per the website, Shiba Inu has received more than 188 million views, whereas Bitcoin received 145 million views. Dogecoin, which too received its fair share of fame during 2021, ranked third with 107 million views.

Interestingly, last month in December 2021, Shiba Inu developers announced one of its most ambitious projects, Oshiverse. Planned for a launch on the layer-2 Shibarium chain, Oshiverse aims to help the token compete in a new and booming crypto niche.

Also Read: The Elon Musk Effect: Tesla CEO's Top Tweets Of 2021 That Sent The Crypto Market Crazy

The 'Dogecoin Killer'? Elon Musk¡¯s 2021 Tweets Toyed With Shiba Inu

Tesla¡¯s CEO Elon Musk has been a frequent tweeter about cryptocurrencies, with his tweets and memes surrounding crypto often not just going viral but rather toying with the Crypto market. And Shiba Inu has been no exception. In fact, Shiba Inu is often touted as a Dogecoin killer. Dogecoin is the crypto towards which Musk has had an undying love.

Here are some of the popular Shiba Inu related tweets by him in 2021.

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¡ª Elon Musk (@elonmusk) October 24, 2021

My Shiba Inu will be named Floki

¡ª Elon Musk (@elonmusk) June 25, 2021

I¡¯m getting a Shiba Inu #resistanceisfutile

¡ª Elon Musk (@elonmusk) March 14, 2021

Also Read: RBI In Favor Of A Complete Ban On Crypto, Says It's A Serious Concern For Them

And just about a couple of months ago, Shiba Inu surpassed Ethereum's Twitter follower count, with the former having a current following of close to 2.5 million v/s Ethereum's 2 million.

Certainly, there¡¯s a lot to look forward to for Shiba Inu in 2022!

Also Read: Former Twitter CEO Jack Dorsey Says Bitcoin Will Replace The US Dollar

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