Shiba Inu (SHIB) Ecosystem Altcoin Rises Over 40% In One Week Amid Election As Network’s Only Utility Token
Bone ShibaSwap (BONE) is rapidly increasing in value as it becomes the only tool for use in the Shiba Inu (SHIB) ecosystem.
The soon-to-be-launched Shibarium blockchain, the anticipated layer-2 upgrade of the Shiba Inu network, selects BONE as the utility token to be used for blockchain transaction fees and for other activities.
The token increased by more than 40% in the last week on the news.
according to Shibarium project,
“This is to confirm and validate, from us, the official source, that BONE is and remains the only token chosen for gas fees and usage. No other tokens will be required to operate within the protocol.
Furthermore, and to make it absolutely clear: Shibarium is developed for the SHIB token and not for the sake of other projects claiming ownership or speculation about its operational dependence on other tokens.
This layer belongs to the community and its solid foundation to innovate as SHIB evolves as an ecosystem. It will always include support for the Shiba Inu and its growth.”
The price of BONE rose from a low of $0.779 on December 29, 2022, to a high of $1.11 on January 5, an increase of approx. 42.5%.
At the time of writing, BONE is changing hands for $1.13.
It is unclear when the Shibarium network will actually launch, but it is excluded to launch soon.
Says a Shiba Inu breeder known as Trophias,
“Regarding Shibarium…we understand that some may be upset as you were expecting an update on the much-anticipated Shibarium. Realistically, we can’t launch everything at once. It has to be done thoughtfully and carefully. We needed a solid place for information and more.”
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