Shiba Inu has been defying expectations and making its mark on the market. In a great performance, this canine-themed crypto has not only soared in price but has also clinched the title of the top-performing cryptocurrency over the last two days. Why is Shiba Inu up and when will Shibarium launch?

What is Shiba Inu: The Start

Shiba Inu (SHIB) started as a meme token, inspired by the popular Shiba Inu dog breed. Over time, its popularity surged and grew into a decentralized community project with its own vibrant ecosystem. The coin quickly garnered attention, thanks in part to its robust community and strategic developments, like staking capabilities and the anticipated launch of Shibarium.

How to Stake Shiba Inu

Staking is a process in the crypto world where investors hold and lock their coins in a wallet to support a network’s operations like transaction validation, security, and development. Shiba Inu offers this capability, providing its holders with an opportunity to earn rewards over time. By staking SHIB, enthusiasts can bolster the project’s strength and also earn passive income.

You can easily stake SHIB on many exchanges, including Binance.

Is Shiba Inu a Reliable Project?

Beyond its meme token roots, Shiba Inu’s vision has evolved. The project has displayed resilience and adaptability, continuously introducing new features and platforms to foster growth and user engagement. The impending launch of Shibarium, a layer-two network, is a testament to the project’s ambition to evolve and provide scalable solutions.

What is Shibarium?

Shibarium is Shiba Inu’s upcoming blockchain, a layer-two solution intended to boost the cryptocurrency’s scalability, speed, and affordability. Originating from the Shiba Inu ecosystem, which began as a mere meme token, Shibarium is a pivotal step forward that will expand SHIB’s utility and function.

This blockchain comes as a response to growing demands for faster and cheaper transactions. As Ethereum’s gas fees rose, the need for an efficient alternative became paramount, especially for tokens like SHIB that operate on the Ethereum network.

Shibarium’s advent promises not only enhanced transaction performance but also opportunities for new decentralized applications (dApps), strengthening the Shiba Inu ecosystem’s overall value proposition. In essence, by launching its blockchain, Shiba Inu is poised to transition from a meme token to a more robust, utility-driven crypto asset.

When will Shibarium Launch?

The official Shibarium launch is set to occur during the Blockchain Futurist Conference in Toronto, Canada. This event is slated for August 13-17, 2023.

Shiba Inu’s Market Movements

In the past week, SHIB has marked a commendable 7.5% increase, even accounting for a minor 1.5% dip, positioning its current price at $0.00000891. Over the last month, its growth reached an impressive 18%, primarily driven by market anticipation around the forthcoming launch of Shibarium.

The Long-Awaited Launch of Shibarium

Despite several postponements, the much-anticipated launch of Shibarium appears imminent. This layer-two network promises to amplify Shiba Inu’s development and long-term adoption. As the days to Shibarium’s public release reduce, the crypto community is showing increased bullishness, eager to capitalize on SHIB while it remains undervalued.

Technical Indicators and Whale Movements

The weekend saw SHIB’s price peak at $0.000010. Even though a slight correction ensued, SHIB’s technical markers hint at a reduced momentum. Yet, with the 30-day moving average soaring above the 200-day average, SHIB holds potential for further increments. Notably, the meme coin has managed to maintain its elevated position over the week, with optimistic sentiments about another potential price rally.

Recent activities spotlight a robust support level for SHIB, making a steep decline in its price improbable. Whale Alert’s data underscores this sentiment, indicating a significant transfer of over 4 trillion SHIB between wallets recently. Whether it signifies an individual entity purchasing SHIB in bulk remains unclear, but it unquestionably signals intensified SHIB-related activities as Shibarium’s launch nears.

Shiba Inu Price Prediction: How High can Shiba Inu reach?

The combined factors of Shibarium’s launch and heightened market activities might propel SHIB to achieve more significant highs shortly. Market analysts predict that SHIB could revisit the $0.000010 mark in the coming weeks and potentially escalate to as much as $0.00002 in subsequent months.

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has warned that artificial intelligence (AI) technology will be at the center of future financial crises. The securities regulator has put out a specific proposal to address some of the issues that could be embedded in AI models.

SEC Chair Gensler on AI and Financial Crises

The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, outlined some of his biggest concerns regarding artificial intelligence (AI) in an interview with Dealbook’s Ephrat Livni on Monday. The rise of generative AI tools like Chatgpt indicates that the technology is poised to transform business and society.

The SEC chairman said:

This technology will be the center of future crises, future financial crises … It has to do with this powerful set of economics around scale and networks.

Gensler expressed concern that certain AI models may prioritize the interests of companies over those of investors, leading to potential conflicts of interest. “You’re not supposed to put the adviser ahead of the investor, you’re not supposed to put the broker ahead of the investor,” he stressed, adding that the SEC has “put out a specific proposal about addressing those conflicts that could be embedded in the models.”

The SEC chairman is also concerned about generative AI giving faulty financial advice. He explained: “Investment advisers under the law have a fiduciary duty, a duty of care, and a duty of loyalty to their clients … And whether you’re using an algorithm, you have that same duty of care.”

Gensler believes that it is reasonable to request that companies establish secure mechanisms ensuring that chatbot users do not delegate responsibility to the AI technology. He emphasized that parameters are set up by humans who built the models and set the parameters.

Last month, the chairman of the SEC also raised concerns about the use of AI. “AI also may make it more difficult to ensure fairness. The outcomes of its predictive algorithms may be based on data reflecting historical biases as well as latent features that may inadvertently be proxies for protected characteristics,” he cautioned.

Nonetheless, Gensler said that “AI is going to continue significantly transforming science, technology, and commerce.” He believes that the securities regulator “could benefit from staff making greater use of AI in their market surveillance, disclosure review, exams, enforcement, and economic analysis.”

Do you share SEC Chairman Gary Gensler’s concerns about AI technology? Let us know in the comments section below.