The SHIB Army witnessed multiple upgrades in 2022. However, the launch of Shibarium wasn’t one of them. This layer-2 upgrade for the SHIB network is a highly anticipated development. After a protracted tease, the public beta testnet is expected to roll out sometime in 2023. In a series of tweets, the network affirmed that it may happen sooner than later.
The network started off by expressing gratitude to the Shib Army. Following this, a series of rumors were rebuked.
A number of speculations regarding the participation of other tokens in the SHIB network started to surface prior to the release of Shibarium. BONE is the utility token that would be used to pay gas costs, according to the Shib network. The network wrote, “No other tokens will be necessary to operate within the protocol.”
As a result, the price of BONE witnessed a major spike. At press time, the asset had moved beyond $1 after a 10 percent daily surge.
As seen in the above chart, this surge was achieved following the update about Shibarium.
Shibarium is being developed for just Shiba Inu
Along with expectations, the FUD around Shibarium has also begun to escalate. Despite the fact that the Shiba Inu network is developing the update, the involvement of other networks has been time and again surfaced. Dismissing any claims, the Shib network wrote,
“Furthermore, and to make it strictly clear: Shibarium has been developed for @Shibtoken and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens”
Additionally, the network pointed out how this layer particularly belongs to the community. Several continued to condemn the network for teasing and not launching Shibarium. However, a few others speculated that the release of Shibarium could be around the corner.
While BONE witnessed a spike, Shiba Inu did not bag major gains. At press time, the asset was trading for $0.000008386 with a 1.71 percent daily rise.