Altcoin From Shiba Inu (SHIB) Ecosystem Nearly Doubles in Price To Start the Year Ahead of Shibarium Release


A new token scheduled to power the Shibarium Shiba Inu (shib) The Layer 2 ecosystem is rising in price to kick off the new year.

Shiba BoneSwap (BONE), the utility token to be used for Shibarium transaction fees and other activities, is trading at $1.39 at the time of writing, up 57% in the last two weeks and 98% in the last month.

The Shibarium developers made the advertisement about BONE earlier this month.

According to the shibary Project,

“This is to confirm and validate, from us, the official source, that BONE is and remains the only token selected for gas rates and usage. No other tokens will be needed to operate within the protocol.”

In anticipation of the Shiba Inu layer 2 network upgrade, Ethereum (ETH) whales have been accumulating SHIB at an alarming rate.

WhaleStats Blockchain Tracking Service reports what SHIB is he top altcoin holding among the largest 1,000 ETH whales, excluding ETH itself, stablecoins Tether (USDT) and USD currency (USDC) and Lido Staked Ether (Steth).

The whale activity comes amid a series of announcements from the Shiba Inu team. Developers say who will be showcasing their new Shiba Inu metaverse at the 2023 SXSW music and film festival in Austin, Texas.

He showcase will feature a virtual reality tour of the WAGMI Temple, one of 11 centers in the Shiba Inu metaverse that displays Dogecoin (DOGE) the history of the competitor.

“The immersion at WAGMI Temple will be a welcome respite from the non-stop action of SXSW. Named after the crypto battle cry “We’re all going to make it,” WAGMI Temple is a Zen-like realm of calming sensations, meditation, natural beauty, and spiritual connections to the world.

Echoes whisper through the region, with a rich history and discovery of the birth of SHIB and its decentralized roots.”

Just yesterday, BONE Recorded a record 67,000 headlines, the BONE Army announced.

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