To Kickstart the Year, the Price of an Altcoin From the Shiba Inu (SHIB) Ecosystem Nearly Doubles Before the Release of Shibarium

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Last Updated on January 18, 2023 by Bitfinsider

To begin the new year, the price of a new coin that will power the Shibarium Shiba Inu (SHIB) layer-2 ecosystem is surging.

The utility token Bone ShibaSwap (BONE), which will be used for Shibarium’s transaction fees and other expenses, is currently trading for $1.39, up 57% over the previous two weeks and 98% over the previous month.

The BONE announcement was made earlier this month by the Shibarium developers.

The Shibarium project developers stated: “This is to confirm and validate, from us, the official source, that BONE is and remains the only token selected for gas fees and use. No other tokens will be necessary to operate within the protocol.”

Shiba Inu layer-2 network upgrade is coming, and Ethereum (ETH) whales have been acquiring SHIB at startling rates.

SHIB is the top altcoin held by the 1,000 greatest ETH whales, according to tracking blockchain service WhaleStats, when ETH itself,  as well as the stablecoins Tether (USDT) and USD Coin (USDC), and Lido Staked Ether are excluded (stETH).

A rush of announcements from the Shiba Inu team precede the whale activity. The new Shiba Inu metaverse will be unveiled, according to developers, at the Austin, Texas, SXSW music and film festival in 2023.

A virtual reality tour of the WAGMI Temple, one of the 11 hubs in Shiba Inu’s metaverse that chronicle the past of Dogecoin’s (DOGE) rival, will be featured in the exhibition.

“Immersion in WAGMI Temple will be a welcome respite from the nonstop action of SXSW. WAGMI Temple – named after the crypto rallying cry of ‘We’re All Going to Make It’ – is a Zen-like realm with calming sensations, meditation, natural beauty, and spiritual connections to the world. Echoes whisper through the region, with a rich history and discovery of SHIB’s birth and its decentralized roots,” they added.

The BONE Army recently reported that BONE had a record 67,000 holders.

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