As the Shiba Inu (SHIB) community prepares for Shibarium, the Layer-2 upgrade for the popular memecurrency is set to bring about long-awaited changes. Last week, a piece of Shibarium’s code was unexpectedly shared on GitHub, as the developer team confirmed the crucial upgrade is in the Beta Phase. Currently, beta testers are examining the Shibarium bridge, which is said to use the gas fee token Bone ShibaSwap (BONE) for every transaction.
Good morning #SHIBARMY ,#BONE ready to explode 🔥🚀— Shibarium News (@meshari79441510) January 12, 2023
Have a glimpse of #Shibarium 🚀#BTC #BNB #eth #USDT #SHIB #TRX #ADA #Shibariumbeta #Crypto #Binance pic.twitter.com/Tzxyqv53xt
Shiba Inu in the Limelight on Crypto Twitter
As a result of the glimpse into the highly-anticipated Shibarium, #Shiba and #BONE is trending on Twitter. The Shiba Inu community, popularly known as the SHIB Army, generated over 11,000 tweets and put the super-popular Japanese guard dog-themed memecoin back in the spotlight. This comes one day after the big news of a new partnership and a special edition Shiboshis NFT collection.
As previously reported, luxury handbag and luggage manufacturer Bugatti Group joined forces with Shiba Inu to host a Twitter Spaces event with a special giveaway, live musical performances, and an exclusive mint of Shiboshis X BugattiGRP NFTs for SHIB Genesis NFT holders.
🎙️Join us for a Twitter space with @Shibtoken— Bugattigroup.eth MINT SOLD OUT (@bugattigrp) January 11, 2023
💎Alpha, live singers, guest speakers & more https://t.co/9mGdTGG1ym
🎉Earn the chance to win 1 custom @Shibtoken cross body bag
⬇️To enter giveaway
1⃣RT-Like-Tag a fren
2⃣Join our Discord
3⃣Set reminder & attend space#LFTravel pic.twitter.com/H7lpRWUvAN
Bone Soars 50.5% in the Wake of Shibarium
The developers confirmed a week ago that Bone ShibaSwap (BONE) would be the only token used on Layer-2 for transactions, and $BONE shot up by 14.7%. However, the monthly perspective looks way better, with 50.5% in the green for Shiba Inu’s $BONE. Hence, the gas fee token for Shibarium managed to reclaim its crucial support level of $1.
At press time, Bone ShibaSwap trades at $1.18, according to CoinGecko. Indeed, Shiba Inu’s BONE has risen to three-month highs, but there’s still a long way to go to restore the impressive all-time high of $15.50 set over a year ago.
Each #Shibarium transaction Burns 🔥$SHIB only $BONE needed #SHIBARMY pic.twitter.com/R1GG35Bcwg— $Shib Bender 🌬️💨🌪️📈🛸✨ (@ShibBender) January 7, 2023
On the Flipside
- The on-chain data analytics tool IntoTheBlock indicates that only 25% of current Shiba Inu holders are making a profit.
Why You Should Care
The successful implementation of Shibarium can significantly increase crypto adoption and bring more utility to the ERC-20 token.
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