Shibarium Devs Reveal Next Step as SHIB Adds Another Zero

Shiba Inu coin drops below crucial support, SHIB Army reacts with fire.

Winking Shiba Inu laying at a garden entrance door in front of a gold zero.
Created by Kornelija Poderskytė from DailyCoin
  • Shiba Inu (SHIB) dropped below crucial support at $0.00001.
  • Shibarium official gas fee token BONE also fell below $1.
  • Shibarium Bridge will be compatible with Ethereum.

Shibarium Public Beta is now in full swing, with the blockchain explorer recording 14,050,809 registered wallets on the testnet. With 4.6 million transactions and an average block time of five seconds, the preparation for mainnet seems to be going smoothly.

Popular crypto influencer Lucie S. recently revealed that the promised cross-chain bridge between Shibarium and Ethereum is now “party functional.” The Ethereum-Shibarium Bridge is set to transfer crypto funds in up to 15 minutes. On top of that, crypto enthusiasts who are looking to delegate or stake Bone ShibaSwap (BONE) on Shibarium Bridge could simply do it on Ethereum’s blockchain.

SHIB Roughed Up by the Bears

The popular memecoin Shiba Inu (SHIB) slipped to a three-month low on Tuesday and now trades below a long-term support level. At press time, the canine coin $SHIB is changing hands at $0.00000995, according to CoinGecko. Slightly bearish in the daily chart, SHIB shows just one bullish on-chain sign in Concentration. Ultimately, this means that whales are getting active as more large positions are accumulated.


In response, the community of Shiba Inu holders, popularly known as the SHIB Army, burned 254 million SHIB tokens. This catapulted the daily SHIB Burn rate by 1549.47%, while another crypto enthusiast sent 246,743,138 Shiba Inu tokens to the bottomless pit three hours ago. According to the official SHIB burning tracker, this is the largest single SHIB burn in three weeks, equivalent to $234.

On the Flipside

  • Despite the decline in SHIB market value, the dog-themed memecoin is the seventh most talked-about cryptocurrency, according to the latest social data revealed by LunarCrush.
  • The Shibarium team is going to host a Shibarium Spaces Giveaway today with an Ask-Me-Anything (AMA) session, including updates on SHIB: The Metaverse.

Why You Should Care

Blockchain interoperability between Ethereum and Shiba Inu’s Layer-2 scaling solution, Shibarium, could significantly increase the utility of both technologies.


Has Shibarium been released?

Shibarium, the Layer-2 solution for Shiba Inu, is currently in a phased launch stage. The testnet launched on March 11th, 2023, already counts over 14 million wallets. However, there’s no official launch date for the Shibarium mainnet yet.

What is the beta version of Shibarium?

The beta version of Shibarium is called the ‘puppynet’. This testnet determines the average block size and other technicalities needed for a smooth mainnet launch.

How do you get Shiba Inu BONE?

Crypto enthusiasts can buy Shiba Inu’s BONE on a variety of exchanges, both decentralized and centralized. SHIB Token provides the opportunity to buy $BONE on ShibaSwap.

Will BONE be used in Shibarium?

The developers repeatedly confirmed that Bone ShibaSwap (BONE) would be the only gas fee token used in Shibarium. It will likely be used for both governance and gas fees.

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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.

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.