Shiba Inu: With major BONE listings, Is Shibarium around the corner?

Paigambar Mohan Raj
Source: MEXC Blog

Shiba Inu’s (SHIB) Shibrium layer-2 is one of the most anticipated launches from the project. The network aims to lower transaction costs while increasing transaction speeds. Moreover, with the upgrade, SHIB will become an independent ecosystem rather than an ERC-20 token on Ethereum (ETH).

As the Shiba Inu team revealed, BONE will play a central role in the upcoming layer 2. When released, Bone will be used as gas in the Shibarium network.

Lately, Bone’s official Twitter handle has been teasing Shibarium’s launch quite a bit. This morning, the page posted a video of a volcano with the caption “bone before shibarium.”

A few days ago, the page highlighted the importance of Bone in Shibarium. The page stated that Bone was the key to using the upcoming Shiba Inu layer 2.

Although Shibarium was supposed to be launched in Q3 of this year, the date was pushed due to delays. However, the team did say that the network would go live sometime later this year. Since we are in the last month of 2022, Shibarium may be right around the corner. However, since we are in a bear market, the team may decide to push the launch further. Nonetheless, we may still get the documentation for the network.

Shiba Inu’s Bone surges after listings

Following this month’s crypto meltdown caused by FTX, the price of Bone fell sharply. The second week of November saw new monthly lows for Bone, which fell by almost 25% in a single day. The plummet came two months after the Shiba Inu offspring doubled to $1.10 from $0.48 in August this year.

Nonetheless, Bone prices recently surged after several exchanges listed the Shiba Inu offspring. Among the exchanges are UpHold, SunCrypto, and Now Wallet. The exchanges may be listing the token as the Shibarium launch gets closer.

At press time, BONE was trading at $0.776938, up by 1.1% in the last 24 hours.