When Shiba Inu (SHIB) broke records last year by returning investments by a colossal 46,000,000%, the team decided the meme coin was too successful to turn into a passing fad. Calyx news…
Among the metaverse frenzy earlier this year, the Shiba Inu (SHIB) team announced the development of the upcoming ‘Shibaverse’, which excited the community and subsequently caused SHIB and LEASH tokens to jump by up to 40%.
In more recent news, the team have revealed that holders can expect the launch of a layer-2 solution for Shiba Inu (SHIB) going by the name of Shibarium. Shiba Inu fans are hoping that the layer-2 solution will assist SHIB in delivering record-breaking returns once again this year.
However, Shibarium has already been compared to the emerging Calyx Token (CLX), which is currently in presale. With a flurry of investors already flocking to get in on the token before its launch, will Shibarium propel Shiba Inu (SHIB) to $0.001 or will Calyx Token (CLX) take over?
Why are Shiba Inu (SHIB) holders so effusive in their enthusiasm for Shibarium? Numerous advantages will accrue from the layer-2 solution.
Most importantly, Shibarium’s launch will result in lower transaction fees. Shiba Inu (SHIB) is built on the Ethereum (ETH) blockchain. As a result, its gas prices have been significantly higher than desirable.
Ethereum’s (ETH) developers are working on a major upgrade to address the issue. However, Shibarium may be able to solve Shiba Inu’s (SHIB) problem even more quickly.
Additionally, Shiba Inu (SHIB) holders eagerly await the addition of a burning mechanism to Shibarium. At the moment, there are more than 549 trillion SHIB tokens in circulation. The only way to decrease this number is through token burns.
While some burning has occurred previously, the introduction of Shibarium is likely to accelerate the trend. The fewer tokens in circulation, the more expensive SHIB will become.
However, Shibarium catapulting Shiba Inu (SHIB) to $0.001 would undoubtedly be a lofty goal. To reach that level from where it is now, the digital token would need to gain nearly 44 times its current value.
To be sure, such a high rate of return is not inconceivable. Remember, Shiba Inu (SHIB) achieved massive gains in 2021. And that included a significant decline toward the end of the year.
But that mind-blowing performance occurred because Shiba Inu (SHIB) rose from relative obscurity to become one of the world’s most well-known cryptocurrencies. It’s a lot more difficult to generate monumental gains from Shiba Inu’s (SHIB) current position, especially as the novel liquidity protocol, Calyx Token (CLX), is beginning to cause traction in crypto spaces.
With a competitive White Paper promising 300,000 TPS, a 15 second time-to-finality and virtually non-existent gas fees, it appears as though what Shibarium could bring is already being implemented by the team behind Calyx (CLX).
Investors will be much more attracted to investing in a newer token such as Calyx (CLX) for a shot at achieving colossal returns upon its launch. Particularly as its fixed-price presale allows them to purchase CLX at its lowest ever price.
Calyx Token (CLX)
Calyx Token (CLX) aims to transform the experience of those who buy crypto through exchanges but are frustrated by the lengthy and costly process. This process will be streamlined through the network’s Calyx Swap, which enables users to swap between tokens in a single transaction at the best available rates across all DEX platforms.
Total decentralisation is also a core value of Calyx (CLX). The protocol’s seamless exchange process is permissionless, and thereby won’t require users to create an account or register. For the time being, the token will be run on the Ethereum (ETH) blockchain, with plans to expand to other blockchains in the future, according to the roadmap.
Calyx Token (CLX) will be entirely community-driven, managed, and governed by members who own the native token CLX, courtesy of CalyxDAO. As the Calyx Token (CLX) expands, it will be more critical than ever to empower the community by allowing them to vote on and implement critical network decisions, therefore providing the same community feel as Shiba Inu (SHIB) and other popular meme coins.
There appears to be a good chance that Shibarium’s upcoming launch will act as a significant catalyst for Shiba Inu (SHIB). Reduced transaction fees, combined with projects built on top of the layer-2 solution, may attract additional investors. The use of the Shibarium burning mechanism could result in the removal of tokens from circulation and a rise in the price of SHIB.
The issue is that there are far too many other variables affecting Shiba Inu (SHIB). Most importantly, its lack of newcomer status could deter its price from increasing significantly, particularly as impressive newcomers such as Calyx Token (CLX) enter the scene.
Shibarium may very well be a game changer for Shiba Inu (SHIB), but the crypto game is complicated by a variety of other moving parts.