Shiba Inu Exec Says “Something Big Is Coming To Shibarium,” Here’s What It Is

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As a seasoned researcher with years of experience in the dynamic world of cryptocurrencies and blockchain technology, I find the recent developments in the Shiba Inu ecosystem particularly intriguing. The announcement by Lucie, the marketing lead, about the upcoming event on Shibarium has certainly stirred up a storm in the industry.

On Tuesday, Lucie, the marketing head for Shiba Inu, made an important announcement concerning Shibarium, their upcoming Layer 2 blockchain within the SHIB ecosystem. She hinted that something significant would be happening in approximately 9 days for Shibarium, creating a stir throughout the wider industry. This intriguing development is primarily associated with BONE, a crucial element of the Layer 2 network.

Shiba Inu Exec Spotlights Unlocking knBONE on Shibarium

On September 10th, Lucie announced in an official update that a significant amount of BONE, previously locked by validators, is soon to be released as knBONE on Shibarium. She further explained that this release would bring a surge of liquidity to Shibarium, offering a fantastic opportunity for developers, projects, and builders within the Shib community.

Despite the Shiba Inu community members debating about the significant unlock and its intentions, Lucie clarified that there are essential methods to leverage this growth. Users can cultivate their knBONE through staking pools such as K9 Finance, a significant player in the L2, while they also have the opportunity to apply it across the broader ecosystem.

Initially, developers are encouraged to primarily concentrate on establishing knBONE staking pools, incorporating knBONE transactions, and integrating it within the Non-Fungible Token (NFT) universe. In her recent post, Lucie mentioned that the upcoming launch of knBONE is expected to trigger a surge of activity in Shibarium as users seek opportunities to either store their tokens for staking or spend them.

At the time of the report, we found that approximately 1,890 transactions were being processed daily on the layer 2 network. Meanwhile, the native token of this ecosystem, SHIB, was experiencing a positive trend, sparking interest among investors as they followed the ongoing development.

Significantly, the environment surrounding the meme coin has seen the debut of the ShibDev portal lately, which adds to investors’ enthusiasm about its potential future developments.

Furthermore, the ongoing Shiba Inu token burn events have been stoking optimism among holders in recent times.

SHIB Price Soars

At the moment of reporting, the price of Shiba Inu coin had increased approximately 2.5% and was at $0.00001342. Earlier in the day, its lowest and highest points were $0.00001301 and $0.00001371 respectively. This surge in price seems to be related to the overall market trend today. The latest development with the coin has also attracted more focus on the asset.

Today’s Coinglass data shows a significant jump of nearly 8% in the futures Open Interest (OI) for the token, reaching $25.66 million. Moreover, the derivatives trading volume skyrocketed by 57%, amounting to $48.13 million, suggesting increased investor enthusiasm towards this asset. This data strengthens optimism surrounding the popular meme token based on a dog theme.

At the moment, an assessment by CoinGape Media indicates that Shiba Inu is displaying positive trends due to Keith Gill, also known as Roaring Kitty, reemerging on social platforms. Generally speaking, the coin is riding a wave of optimism within the wider crypto market.

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2024-09-10 10:47