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The Shiba Inu community has called on Ethereum founder Vitalik Buterin to recognize Shibarium as a significant Ethereum layer-2 network.<\/b><\/p>\n
Shiba Inu has continued to command considerable attention from industry leaders and notable market analysts. For instance, Jeremie Davinci, one of the earliest known Bitcoin adopters, has <\/span>persistently called<\/span> for investors to invest in SHIB.<\/span><\/p>\n Despite starting as a meme coin, Shiba Inu has evolved into a decentralized ecosystem, securing a spot among the top crypto assets in the market. However, even with its growing prominence, Ethereum founder Vitalik Buterin has often passed out on multiple opportunities to recognize the project for its resilience.<\/span><\/p>\n One such case occurred recently when Buterin spotlighted the <\/span>Dencun hard fork<\/span>, Ethereum\u2019s latest upgrade, which aims to further reduce gas fees on Ethereum layer-2 networks. Nonetheless, for this to go into effect, these layer-2 networks need to adopt the blob transaction protocol that comes with Dencun.<\/span><\/p>\n To demonstrate the current fee rates observed across the Ethereum ecosystem, which includes its layer-2 rollups, Buterin presented a list of notable layer-2 networks and their fees for sending Ethereum and swapping tokens.\u00a0<\/span><\/p>\n The list recognized nine layer-2 networks, including, Arbitrum One, Polygon zkEVM, Boba Network, Optimism and zkSync. Notably, these networks would have an opportunity to leverage blobs for cheaper transactions. However, the list omits other prominent layer-2s, including Shibarium despite its low fees.\u00a0<\/span><\/p>\n For context, an <\/span>analysis<\/span> 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.<\/span><\/p>\n – Advertisement –<\/span><\/p>\n With Buterin failing to include Shibarium on the list, the Shiba Inu community jumped in to demand recognition from the Ethereum founder. <\/span>\u201cput shibarium on the list. shibarium is also part of eth layer 2. come on vitalik,\u201d <\/span><\/i>an Indonesian SHIB community member <\/span>remarked<\/span>.<\/span><\/p>\n Responding to this, Ragnar, a notably Shiba Inu ecosystem team member and community figure, asked Buterin when the Ethereum team plans to include Shibarium on the list. Despite the mass calls from community members, Buterin has not given any response as of press time.<\/span><\/p>\n Wen Shibarium @VitalikButerin ??? Let\u2019s do it. https:\/\/t.co\/9uGXcn7qt8<\/p>\n \u2014 RagnarShib.eth (@RagnarShiba) March 30, 2024<\/p>\n<\/blockquote>\n Buterin has engaged in multiple interactions regarding Shiba Inu which demonstrated his sentiments toward the product. When the Ethereum founder discovered that Shiba Inu makes up 20% of the reserves of leading exchange Crypto.com, he <\/span>expressed surprise<\/span>, implying he never expected SHIB to make up such a large amount of a major exchange\u2019s holdings.<\/span><\/p>\n Buterin admitted last month that he underestimated Shiba Inu when he received half of the token\u2019s 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, Buterin said <\/span>SHIB outperformed his expectations<\/span><\/p>\n Disclaimer<\/strong>: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic\u2019s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.<\/p>\n -Advertisement-<\/p>\n<\/div>\n<\/div>\nShibarium Omission<\/span><\/h2>\n
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Buterin Underestimates Shiba Inu<\/span><\/h2>\n