BONE Soars by 14% as Shibarium Team Unveils Update

Vignesh Karunanidhi
BONE Soars in Price as Shibarium Team Unveils Update
Source: Gfinity Esports

The Shiba Inu army was highly anticipating the launch of Shibarium in 2022. Even though it was promised that it would likely happen by the end of 2022, things didn’t go as planned.

The official Twitter handle of Shibarium recently tweeted an update. The tweet was regarding some rumors that were revolving around the involvement of other tokens in the Shibarium network. However, the team asserted the fact that BONE will remain the only token that will be used for gas fees and other use cases inside the network.

The Shibarium team also cautioned the community to keep an eye only on the official social media channels and blog portals for accurate announcements.

BONE surges by 14% post Shibarium tweet

Just after the tweet by the Shibarium team went live, BONE started reacting positively. The price of BONE shot up by 14% over the last 24 hours and is trading at $1.07 at press time, according to the data from CoinMarketCap. BONE is also up by 34.38% over the last seven days.

The rise in price can be attributed to the expected launch of Shibarium. However, there has not been an official announcement regarding when the community can expect the launch of Shibarium.

BONE is expected to appreciate in value following the release of Shibarium because it will be the only token used within the ecosystem for gas fees and other use cases as mentioned by the team.