Last week, Shiba Inu (CRYPTO:SHIB) introduced its highly anticipated layer 2 solution, Shibarium, despite some teething problems.
What happened to Shibarium?
The main goal behind the development of Shibarium was to address the scalability issues of Ethereum (CRYPTO:ETH) head-on. By increasing transaction capacity and reducing costs, this solution aimed to elevate Shiba Inu beyond its origins as a simple meme currency.
SHIB developer Shytoshi Kusama provided an update on the team's progress on Sunday. He said: "Today, the team focused on ensuring perfect security measures and started deep testing on the blockchain. Shibarium is currently available (but in private mode) producing blocks as usual."
Because it is important
While the launch of Shibarium set the stage for an exciting future, the possibilities for investors are equally intriguing. In theory, if SHIB were to reach the long-term goal of $0.01, investors could experience a significant multiplication of their fortunes.
Considering the current token price of $0.0000078, an investment of approximately $800 would yield around 101 million SHIB tokens. As the SHIB price reaches $0.01, the investment would skyrocket to a staggering $1.02 million, representing an increase of 128,105.13%.
Shiba Inu Price Movement
At the time of writing, SHIB was trading at $0.00000789, marking a 4.19% decline in the last 24 hours.
