Will Vitalik Acknowledge the Shiba Inu Community’s Demand for Shibarium Recognition?
The Shiba Inu community is urging Ethereum founder Vitalik Buterin to acknowledge Shibarium as a significant Ethereum layer-2 network. Shibarium, which started as a meme coin, has since grown into a decentralized ecosystem, securing a spot among the top crypto assets in the market. Despite its growing prominence, Buterin has failed to recognize the project’s resilience on multiple occasions.
Recently, Buterin highlighted the Dencun hard fork, Ethereum’s latest upgrade, which aims to further reduce gas fees on Ethereum layer-2 networks. However, for this to take effect, these layer-2 networks need to adopt the blob transaction protocol associated with Dencun. To demonstrate the current fee rates observed across the Ethereum ecosystem, Buterin presented a list of notable layer-2 networks and their fees for sending Ethereum and swapping tokens.
Read Also: Shiba Inu: Can It Make You a Millionaire? Investors Eye Big Returns Despite Market Downturn
Shibarium Omission
The list recognized nine layer-2 networks, including Arbitrum One, Polygon zkEVM, Boba Network, Optimism, and zkSync. However, it omitted other prominent layer-2s, including Shibarium, despite its low fees. For context, an analysis of the fee structures across multiple networks found that Shibarium beats Polygon, Bitcoin, Cardano, and Ethereum on transaction costs, boasting an average transaction fee of $0.00001. This places it as one of the cheapest networks to use.
The Shiba Inu community has demanded recognition of Shibarium from Buterin, with one member remarking, “put shibarium on the list. shibarium is also part of eth layer 2. come on vitalik.” Despite mass calls from community members, Buterin has not responded as of press time.
Buterin Undermine Shiba Inu
Buterin has engaged in multiple interactions regarding Shiba Inu which revealed his sentiments toward the product. When he discovered that Shiba Inu makes up 20% of the reserves of leading exchange Crypto.com, he expressed surprise, implying he never expected SHIB to make up such a large amount of a major exchange’s holdings.
Read Also: Solana (SOL) Price Soars, Nears $150 Resistance Level
Buterin admitted last month that he underestimated Shiba Inu when he received half of the token’s circulating supply in 2021. According to him, he burned most of it and gave the rest to charity because he expected it to crash like other meme coins. However, he said SHIB outperformed his expectations.
Follow us on Twitter, Facebook, Telegram, and Google News
Kayode Michael is a seasoned cryptocurrency analyst, successful trader, and skilled writer with a strong command of cryptocurrency analysis and price action. He leverages his technical analysis skills to provide valuable insights into emerging market trends and potential opportunities for investors to make informed decisions.
