Shiba Inu's Layer 2 Moves To Beta Phase Soon: What You Need To Know

Developers of the meme-based cryptocurrency shared more updates about what’s to come for Shiba Inu (CRYPTO: SHIB) this year.

What Happened: In an update on Twitter Inc (NYSE:TWTR), Shiba Inu developer “kaaldhairya” shared a list of upgrades that are currently in the works.

I promise you, I am working on
1. SHIBARIUM - In Alpha, will move to Beta soon
2. SHI - In development, vote for your favorite collateral
3. SHIBASWAP V2 - New ways to earn
4. MV land sale event-soon
5. Burn portal - Earn rewards
6. Many other projects I can't disclose

— ShibDev4Evr (@kaaldhairya) April 5, 2022

The developer stated that Shibarium – Shiba Inu’s upcoming Layer-2 solution – will soon move into the Beta phase of its development.

Shibarium has been a widely anticipated upgrade for the Shiba Inu community, primarily because Shiba Inu’s reliance on the Ethereum (CRYPTO: ETH) network means it is also subject to its high gas fees.

A number of SHIB users faced the consequences of this firsthand when the Shiboshi NFT collection launched in October.

Yeah I lost $1500 in gas fees and didn’t get anything… Awesome

— CraigofCrypto (@craigofcrypto) October 14, 2021

THIS https://t.co/QLCN80gk8g

— Shytoshi Kusama™ (@ShytoshiKusama) October 15, 2021

According to kaaldhairya, users can also expect to see metaverse land sale event, the launch of the burn portal, and “many other” undisclosed projects in the near future.

Price Action: According to data from Benzinga Pro, SHIB was trading at $0.00002475, down 5.92% in the last 24 hours.