Shiba Inu debuts Shib Alpha Layer for custom rollups on Shibarium, even as price dips amid whale moves and scam concerns.
The Shib Alpha Layer, a new feature introduced by the Shiba Inu development team, enables developers to generate personalized rollups on the Shibarium network.
This new infrastructure aims to facilitate the rapid deployment, security, and scalability of decentralized applications (dApps), NFTs, and other blockchain-based initiatives—the team endeavors to address the increasing demand for customized blockchain solutions by streamlining the rollup creation process.
Shiba Inu: New Platform For Shibarium Ecosystem
The Shib Alpha Layer framework has been developed to enable developers to implement rollups in a matter of minutes, according to Lucie, the marketing lead for Shiba Inu.
These rollups can be tailored to accommodate various applications, including decentralized finance (DeFi) platforms and NFTs.
The adaptable framework enables users to customize their rollups for various applications while still utilizing Shibarium’s primary infrastructure.
The Shib Alpha Layer’s rollup creation procedure is straightforward. Developers can configure their rollup, select between the mainnet and testnet, and activate it.
The rollup is managed and activated using $TREAT tokens after launch. Developers may stake $TREAT tokens to commence the rollup and unstake them as required.
This configuration aims to facilitate the scaling of operations on Shibarium for initiatives.
Shiba Inu Price Trend In Context Of Market Volatility
Shiba Inu’s development team is progressing in enhancing the Shibarium ecosystem; however, the SHIB token is encountering obstacles in the broader market.
The cryptocurrency has recently experienced a price decline, with SHIB trading at $0.00001263.
This decrease is a 27% decrease from its peak earlier in the year and a 62% decline from its best in November.
The decrease in confidence among large investors, also called “whales,” is one of the primary factors contributing to this downturn.
Whales who possess between 10 million and 100 million SHIB tokens have decreased their holdings by 9 billion since the beginning of the year, as indicated by data from Santiment.
Similarly, investors with tokens valued at between 100 million and 1 billion have also reduced their portfolios.
This trend indicates that major investors are cautious and that Shiba Inu may face a challenge in terms of long-term growth.
Market Trend For SHIB Derivatives Indication Of Negative Trend
Shiba Inu’s open interest (OI) in derivatives has decreased by nearly 3%, according to the most recent data from CoinGlass, with a current value of $172 million.
This OI decrease indicates a decrease in investor interest in SHIB derivatives and trading activity.
Additionally, the liquidation of long positions has increased, with nearly $331K in bullish positions being canceled out in the past 24 hours.
This change in market sentiment has resulted in a decreasing optimism regarding the SHIB token.
Nevertheless, some indications still indicate that speculators are active in the market.
The OI-weighted funding rate remains at 0.0084%, suggesting that a few investors are still willing to pay rates to align the spot market and derivatives prices.
Nevertheless, the general trend indicates a more bearish outlook for the SHIB price as market participants respond to the broader cryptocurrency market downturn and the decrease in whale holdings.
Marketing Manager Issues Warning Regarding Fake Tokens
The Shiba Inu marketing team has issued a disclaimer regarding the proliferation of counterfeit tokens in the Shibarium ecosystem, in addition to technical modifications and market fluctuations.
On social media, Lucie warned users to exercise caution and avoid falling victim to fraudulent tokens.
She underscored the importance of verifying the token addresses with official resources and maintaining a current understanding of the situation to prevent deception.
Lucie also shared an image of the official Shiba Inu tokens, SHIB, BONE, LEASH, and TREAT, with the message to the community to “Stay SAFE” and “DYOR” (Do Your Research).
She reminded its users that SHIB was initially issued on the Ethereum blockchain but is now on Shibarium.
She added that any newly minted tokens must be exhaustively examined to verify their authenticity.
