Shiba Inu (SHIB) Development Team Introduces Shib Alpha Layer, a New Framework for Creating Custom Rollups

Shiba Inu's development team has introduced a new feature, Shib Alpha Layer, which allows developers to create custom rollups on the Shibarium network.

Shiba Inu’s development team has introduced a new feature: Shib Alpha Layer, which allows developers to build custom rollups on the Shibarium network. This addition to the blockchain ecosystem aims to enhance scalability, security, and swift deployment for decentralized applications (dApps), NFTs, and other blockchain projects.

Shiba Inu New Framework for Shibarium Ecosystem

As stated by Shiba Inu marketing lead Lucie, the Shib Alpha Layer framework has been designed to empower developers to deploy rollups within minutes. These rollups can be tailored for diverse applications, spanning decentralized finance (DeFi) platforms and NFTs.

The framework is designed for maximum flexibility, permitting users to configure their rollups for various use cases while still benefiting from Shibarium’s main chain infrastructure.

To create a rollup on the Shib Alpha Layer, developers simply need to configure their rollup, select either the mainnet or testnet, and launch it. Once launched, the $TREAT tokens are used to manage and activate the rollup. Developers can stake $TREAT tokens to begin the rollup and unstake them when necessary. This setup is intended to make it easier for projects to expand their operations on Shibarium.

Shiba Inu Price Trend Amid Market Volatility

While Shiba Inu’s development team is making progress on Shibarium, the SHIB token is encountering challenges in the broader market. Recently, the cryptocurrency has experienced a decline in price. SHIB is currently trading at $0.00001263, showing a 27% drop from earlier this year and a 62% decline from its peak in November.

One key factor driving this downturn is the reduction in confidence among large investors, also known as whales. According to data from Santiment, whales holding between 10 million and 100 million SHIB tokens have decreased their holdings by 9 billion tokens since the beginning of the year.

Similarly, investors with holdings between 100 million and 1 billion tokens have also reduced their portfolios. This trend suggests a cautious outlook among big investors and could pose a challenge for Shiba Inu’s long-term growth.

SHIB Derivatives Market Trend Hint at Bearish Trend

The latest figures from CoinGlass show that Shiba Inu’s open interest (OI) in derivatives has decreased by almost 3%, now standing at $172 million. This decline in OI indicates reduced trading activity and investor attention on SHIB derivatives.

Moreover, there has been an increase in the liquidation of long positions, with nearly $331K in bullish positions being wiped out in the past 24 hours. This shift in market sentiment has led to less optimism surrounding the SHIB token.

Despite this, there are still signs of trader activity in the market. The OI-weighted funding rate remains at 0.084%, suggesting that some investors are still willing to pay rates to align the derivatives and spot market prices. However, the overall trend indicates a more bearish outlook for SHIB price as market participants react to the decline in whale holdings and the broader cryptocurrency market downturn.

Marketing Lead Warns Against Fake Tokens

Apart from technical changes and market movements, the marketing team of Shiba Inu has also provided a disclaimer about the emergence of fake tokens in the Shibarium ecosystem.

Lucie, took to social media to issue a warning to users to be vigilant and avoid falling victim to scam tokens.

She emphasized the importance of checking token addresses using official resources and staying informed to avoid becoming a victim of fraud.

Lucie also shared an image of the official Shiba Inu tokens, SHIB, BONE, LEASH, and TREAT, urging the community to “Stay SAFE” and “DYOR” (Do Your Own Research). As a reminder to its users, she added that although SHIB was originally issued on the Ethereum blockchain, it is now on Shibarium, and any newly minted tokens should be examined closely to verify their authenticity.