Shibarium Beta Finally Confirmed, BONE Skyrockets 24%

The SHIB Army rejoiced in the official announcement that the Shibarium is due this week.

Shiba Inu astronaut in a space suit greeting fans on the launch of Shibarium.
  • Shibarium Public Beta officially gets the green light from SHIB Token.
  • Two days ago, lead dev Shytoshi Kusama paused the intake form.
  • Shibarium’s gas fee token Bone ShibaSwap skyrocketed by 16.9%.

The official SHIB Token team has confirmed today that the Shibarium Public Beta release will launch this week. The eagerly anticipated Layer-2 scaling solution for Shiba Inu’s (SHIB) Ecosystem is finally ready to go live a week after launching the Shibarium Tech website. What’s next is the gateway to access the Beta website, which will be revealed over “the next few days.”

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The community, popularly known as the SHIB Army, and the Unification developers expect the white paper and other crucial documentation for the Layer-2 blockchain to come through next. Meanwhile, Shiba Inu’s (SHIB) charts just printed out a massive green candle, which added 2.9% to SHIB’s market price in an hour.

At press time, the #15 ranked popular canine memecoin trades at $0.00001129, according to CoinGecko. Even though SHIB is still licking its wounds from the recent Silvergate-infused bear market, the Japanese guard dog-themed cryptocurrency has maintained its fundamental resistance line of $0.00001 since January 1st, 2023.

All Eyes on BONE in the Wake of Shibarium

Another trending token from the Shiba Inu Ecosystem, Bone ShibaSwap (BONE), is meant to play a crucial role in Shibarium, as $BONE was deemed the only token for gas fees on the newly-launched self-sufficient blockchain.

Following the news, Bone ShibaSwap returned to the TOP 100 by global crypto market capitalization. At press time, the #98 ranked altcoin Shiba Inu’s BONE is priced at $1.86, according to CoinGecko.

Besides, $BONE formed a hidden bullish divergence a week ago when Crypto.com listed the token on its platform. Shooting $BONE up back to the critical resistance at $2 for a moment, the gas fee token differs from SHIB in that it has a clear max supply of 250,000,000.

On the Flipside

  • The long-awaited developments and excitement from the SHIB Army are yet to reflect on Shiba Inu’s burn rate. According to Shibburn, the burn rate dropped by 75.17% following the news. With only 7.35 million Shiba Inu (SHIB) tokens set ablaze, it sums up to just $82.26.

Why You Should Care

The transition to a self-sustaining blockchain for Shiba Inu (SHIB) means that the ERC-20 token won’t depend on Ethereum (ETH), which could significantly decrease transaction costs.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.