The Shiba Inu (SHIB), me token community, also known under the “SHIB Army”, has been excited about Shibarium’s launch. Shibarium is a layer two scaling solution designed for the SHIB cryptocurrency ecosystem. The launch of Shibarium was hinted at as it was originally scheduled to launch in the third Quarter 2022. Mid-December 2022, SHIB community members suggested that the launch of the project was closer each day. The SHIB team published a blog article titled “Introduction Shibarium: Shiba Inu’s Layer 2 Network” on Jan. 15, 2023.

This blog post states that Shibarium beta is almost ready to go live and explains what people can expect at the launch. The team emphasizes that Shibarium will only be released in phases. The native token of the project, BONE, will be used to ‘pay gas transactions, reward validators, and delegators within Shibarium protocol. The team mentions that although there are 250 million BONE available, 20 million are reserved for reward validators and delegations in the future.

The ERC20 meme token Shiba Inu (SHIB) has been rising in Shibarium news over the past week as SHIB rose 19.3% against the U.S. Dollar. BONE has gained 16.1% in the past week and is currently up 11.1% over the previous 24 hours. Other meme tokens, such as floki (FLOKI), have seen larger rises despite the Shibarium beta launch. This week’s jump was 26.4%.

The meme token “let’s go brandon” (LETSGO), has increased by 71.6% in the past seven days. Shibavax (SHIBX), has increased 55.9%. Metadoge (METADOGE), up 41.5%, and hoge finance (30.5%) has increased. Dogecoin (DOGE), the godfather of meme coins has seen a modest increase in value this week, rising 13.6% against U.S. dollars. The meme currency has seen a general decline of 3.5% over the past 24 hours.