Shiba Inu’s Shibarium-Focused Coins Are Ready To Explode
By Nilesh Hembade 08-July-2023 22:30 PM IST
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Introduction:
The cryptocurrency market is abuzz with excitement as Shiba Inu’s Shibarium prepares for its highly anticipated launch. Shytoshi Kusama, the lead developer of Shiba Inu, recently dropped hints about the upcoming release, sending ripples across the crypto sphere. With the unveiling of Shibarium expected at the Blockchain Futurist Conference in Toronto this August, the market has already started reacting, driving up prices of Shibarium focused coins. Let’s delve into the details of Shibarium and explore the coins set to benefit from its launch.
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What is Shibarium
Shibarium is an upcoming layer-2 (L2) blockchain network built on Ethereum specifically for Shiba Inu. It represents a significant transformation for Shiba Inu, taking it beyond its memecoin origins and evolving it into a comprehensive ecosystem. The concept for Shibarium was initially proposed by Ryoshi, the anonymous creator of Shiba Inu, in a now-deleted blog post in May 2021.
The project aims to establish a blockchain layer-2 solution on the Ethereum network, providing a foundation for various ecosystem components such as a decentralized exchange (DEX), a metaverse, and blockchain games like Shiba Eternity.
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Shibarium-Focused Coins Ready to Explode
1.Bone ShibaSwap (BONE)
Bone ShibaSwap (BONE) serves as the governance token for the ShibaSwap decentralized exchange (DEX) and offers voting functionality. This token enables the Shiba Inu community, affectionately known as the Shib Army, to actively participate in decision-making by voting on proposals, submitting their own suggestions, and gaining access to future non-fungible tokens (NFTs). The significance of an individual’s vote increases with the number of BONE tokens they hold.
BONE has already experienced an upward rally since the hint of Shibarium’s launch and is currently trading at $1.42, with a notable increase of +50.83% in the past few days.
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2.Shiba Inu (SHIB)
SHIB is the primary coin within the Shiba Inu ecosystem and is listed on its own decentralized exchange, ShibaSwap. Created anonymously by “Ryoshi” in August 2020, SHIB has often been referred to as the “DOGECOIN Killer” due to its growing popularity. With the upcoming launch of Shibarium, SHIB is poised to gain utility and further enhance its position within the ecosystem. Currently trading at $0.000007602, SHIB is anticipated to experience significant growth in the near future.
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3.Doge Killer (LEASH)
LEASH, part of the Shiba Inu (SHIB) ecosystem, is commonly regarded as the “DogeCoin Killer” because of its rising popularity. Since the hint of Shibarium’s launch, LEASH has seen a remarkable increase of +90.86% in the past seven days, reflecting investors’ anticipation. LEASH is currently trading at $549.58, with a 24-hour increase of +63.82%.
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FAQ
Shibarium is a layer-2 blockchain network that is being built on top of the Ethereum blockchain. It is designed to address the scalability and gas fee issues that have plagued the Ethereum network. Shibarium will use a proof-of-stake consensus mechanism, which is more energy-efficient than the proof-of-work mechanism used by Ethereum. This will make Shibarium more scalable and environmentally friendly.
Shibarium will also use a new token called BONE, which will be used to pay for gas fees on the network. BONE is currently the governance token for ShibaSwap, a decentralized exchange (DEX) built on the Ethereum blockchain. However, after Shibarium is launched, BONE will also be used as the gas token for the network.
Shibarium was proposed by Ryoshi, the anonymous creator of Shiba Inu. However, the development and implementation of Shibarium involve a team of developers and contributors.
Shibarium’s primary purpose is to expand the capabilities of Shiba Inu beyond being just a memecoin. It aims to create a robust ecosystem that offers various features and services, including decentralized exchanges, a metaverse, and blockchain games, to enhance the overall user experience.
Shibarium operates as a layer-2 solution on the Ethereum blockchain. It leverages the existing Ethereum network while providing additional functionalities and scalability. By utilizing layer-2 technology, Shibarium aims to enhance transaction speed, reduce fees, and improve overall scalability for Shiba Inu.
The exact launch date of Shibarium has not been announced yet. However, there have been hints that the official unveiling of Shibarium will take place at the Blockchain Futurist Conference in Toronto in August.
Some coins associated with Shibarium include Bone ShibaSwap (BONE), Shiba Inu (SHIB), and Doge Killer (LEASH). These coins play various roles within the Shiba Inu ecosystem, such as governance, utility, and value exchange.
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Conclusion
As Shiba Inu’s Shibarium prepares to launch, the cryptocurrency market is eagerly anticipating the development. Shibarium focused coins, such as BONE, SHIB, and LEASH, have already witnessed significant price surges in response to the forthcoming launch. With the expansion of the Shiba Inu ecosystem through Shibarium, these coins are expected to experience further growth and play pivotal roles within the ecosystem.
As always, it’s essential to conduct thorough research and exercise caution when investing in cryptocurrencies, as market dynamics can be volatile.
Disclaimer:
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