Shiba Inu’s SHIB token performed better than the top ten cryptocurrencies in the last seven days, as the digital asset gained 20%. The SHIB community is anticipating the launch of Shibarium, a layer2 network.
Shiba Inu increased 8.9% in the last 24 hours to $0.00001107 as of press time, continuing a price rally that started earlier this month.
Why SHIB Price is Rising
Shiba Inu’s recent rally can be attributed to the expected launch of its Shibarium layer-2 network. Last month, the lead developer for the project Shytoshi Kusama said the layer2 network would likely be launched this month.
One of the key partners leading Shibarium development, NOWNodes, has started the countdown to the launch of Shibarium. Although it did not specify the number of days left, it stated that the only stage left was the release of the final version of the mainnet.
Blockchain analytical firm Kaiko noted that Shiba Inu surged more than 25% since…
