Shiba inu

Shiba Inu Shibarium Launch Imminent; Bone and SHIB price rally

Shiba Inu-related tokens SHIB and BONE have seen their values ​​rise after leading meme coin developer Shytoshi Kusama announced an August launch date for Shibarium.

in a blog post On Thursday, Kusama revealed that the project will sponsor the Blockchain Futurist Conference, which will take place in Toronto in August. It is in this place that the project will exhibit its complete WorldPaper. The Shibarium Layer-2 would also be discussed at the event, and “there is a very high chance of releasing it.”

Shibarium gets release date

Kusama also wrote about fully decentralizing the Shiba Inu ecosystem and mentioned that this would happen through decentralized autonomous organizations (DAOs).

The developer announced its plan to introduce DoggyDAO, a funding mechanism in Shibarium that SHIB holders will operate to support projects.

The Shibarium Layer-2 network is one of the most anticipated projects this year, especially within the Shiba Inu ecosystem. With its release date now set for August, many will be looking forward to what it has to offer.

Meanwhile, on-chain data suggests that Shibarium would enjoy high community adoption. his network of puppies test network it has already registered more than 28 million transactions and 17 million wallet addresses in less than five months since its launch.

Shibarium Testnet transactions (Source: cubscan)

Since the announcement, BONE, the native token of the Layer 2 network, has seen its value rise significantly. According to BeInCrypto data, BONE is up 51% in the past seven days to $1.43 at press time.

The news also seems to have had a positive effect on SHIB, which has enjoyed a rapid rally over the weekend. According to data from BeInCrypto, SHIB rose to $0.00000777 after gaining almost 6% in the last 24 hours.

Crypto Traders' Interest in Shiba Inu Revives
The interest of cryptocurrency traders in Shiba Inu has been revived (Source: holyday)

Blockchain analytics firm Santiment noted that cryptocurrency traders were regaining interest in the meme coin. Over the past week, there have been 14 whale transfers exceeding $1 million, the highest level in the past three months.

On top of that, the number of unique SHIB tokens in circulation also hit a 3-week high.


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