Shytoshi Kusama Introduces Shibarium, Causes Surge In Shiba Inu Token Price

Shytoshi Kusama, the pseudonymous lead developer of the dog-themed altcoin Shiba Inu, kept their promise to the Shib Army and finally introduced the ecosystem's highly-anticipated project – Shibarium, causing a surge in the Shiba Inu token price.

SHIB, the native token of the Shiba Inu ecosystem, showcased a 9% gain late Wednesday following the release of the first Medium blog by Kusama, introducing Shibarium to the global crypto community.

The surge paved the way for the popular altcoin to get into the top five list of altcoins by market capitalization. Shibarium is one of the major projects the Shib Army anticipates to help propel the price of SHIB.

In their latest blog, Kusama said that the layer-2 solution will help the community "walk away from the systems that oppress us and work together to make a better world with the culmination of all our skills, experiences, and a common vision."

The pseudonymous lead developer, who admitted their dedication to the founding vision of Ryoshi, the creator of Shiba Inu, noted that Shibarium is just "the first step in a global movement to end the cycle of abusive control by embracing the power of decentralization."

In the blog post, which Kusama said, is the first in a series of blogs about Shibarium, they said that the layer-2 solution will encourage "closed-community product loops; the ability to launch community-originated, Shiba-branded, physical products in real life with more utility than ever before; exercise product loyalty by choosing quality-equivalent Shiba-oriented goods; and of course, craft unique, community-powered platforms unaffiliated with the Shib Development Team."

While Kusama did not reveal the project's release date yet, they outlined the details of how the community and those interested in building on the layer-2 scalability solution could be more united when the Shibarium Beta testing finally rolls out.

Kusama enumerated the values that people should understand if they want to work with the Shiba Inu team or build their projects on Shibarium, including BURN, PROTECT, HELP and GROW.

The lead developer believes that these values "will give us the opportunity to shift the world's consciousness away from the greed of capitalism to a healthier, hybridized approach; one where people can still profit from their hard work and expertise, but know in their heart they are also helping move the community forward."

SHIB saw a 5.96% gain over the past 24 hours and was trading up at $0.0000137 with a 24-hour volume of $511,196,896 as of 2:52 a.m. ET on Thursday, according to the latest data from CoinMarketCap.