Shiba Inu’s Bullish Momentum Continues as Shibarium Creator Dismisses FUD Claims

Shiba Inu (SHIB) and its related tokens, $BONE and $LEASH, have bounced back from the recent FUD (fear, uncertainty, and doubt) that caused some distress among the Shibarmy. According to the latest crypto market data, SHIB’s price has increased by around 3.3 percent in the last 24 hours, trading at around $0.00001089 on Friday.

The recent allegations that Shibarium layer two developers copied the source code caused some concern among the Shibarmy, but those claims have been dismissed by KRYPSTEIN, the Firechain and Rinia testnet developer. KRYPSTEIN stated that his code is open source and free to use, and he refuted the claims that Shibarium developers stole or cloned his code.

Shytoshi Kusama, the lead developer of Shiba Inu, also confirmed that the team has been working on essential updates to ensure the timely launch of the Shibarium layer 2 scaling solution. This update will enhance the network’s performance and scalability.

The plagiarism scandal caught the attention of YouTuber Ben Armstrong, who threatened to dox the real identity of Shytoshi Kusama following the allegations. However, the ShibArmy has shrugged off the claims, citing the fact that the Shibarium layer 2 scaling solution is still in beta, and several bugs could be identified and corrected along the way.

The Shiba Inu ecosystem remains in the top 20 digital assets by market capitalization, and it is the second most valuable meme coin after Dogecoin (DOGE), with a market capitalization of approximately $6,389,920,198. The network has processed over 9.9 million transfers from 1,325,831 holders, with Binance being among the Shiba Inu whales holding over 41 percent of Shib.

The launch of the Shibarium layer 2 mainnet is expected to accelerate the SHIB burn rate, and more decentralized applications will join the Shiba Inu network through the Shibarium network. This will further enhance the network’s performance and scalability.

ShibaSwap’s $LEASH token has increased by around 6.2 percent in the last 30 days, trading at around $459.13. However, other meme tokens like FLOKI, Dogecoin, and Babydoge have diluted the Shiba Inu market. Despite the competition, the Shiba Inu ecosystem remains bullish, and the Shibarmy continues to support the network’s growth.

In conclusion, the recent FUD allegations have been dismissed, and the Shiba Inu ecosystem remains bullish. The launch of the Shibarium layer 2 mainnet and the addition of more decentralized applications to the network are expected to enhance its performance and scalability further. Despite the competition from other meme tokens, the Shiba Inu ecosystem remains in the top 20 digital assets by market capitalization and is the second most valuable meme coin after Dogecoin.

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