The official Shibarium Network has shared an exciting update for the Shiba Inu community. The Shibarium team has formally announced that each Shibarium transaction will burn SHIB after reiterating that the Layer 2 solution is solely for the SHIB community and that BONE will be its only token.
Shibarium Update 🧵— Shibarium Network (@ShibariumNet) January 7, 2023
While on our last post we wanted to remind everyone that BONE 🍖 serves as the required gas token for operability within Shibarium, we also would now like to formally announce that each #Shibarium transaction will burn 🔥 SHIB.
1/2 🧵 pic.twitter.com/zQRoOuL9oW
The upcoming Layer 2 Shibarium is anticipated to play a big part in the thesis of burning trillions of SHIB. In her prediction about burning 111 trillion SHIB in months, SHIBQueenie, a moderator on the SHIB Discord, forecasts that dApps on Shibarium could lead the local ecosystem to burn trillions more SHIB.
The Shibarium team also announced that it was focused on delivery at this time, as the Shibarium beta launch approaches. Expectations are ramping up for the Shibarium beta launch. As reported by SHIB BPP, a Shiba Inu community-focused Twitter account, a Shibarium section has been added to the SHIB wiki on the official website.
Given these expectations, BONE, which is the gas of the Shibarium blockchain, remains a top trending item on Twitter even at the time of this writing. As reported by U.Today, OpenOcean, a DEX aggregator, has whitelisted Shiba Inu's governance token, BONE. At the time of writing, BONE is up 4.19% at $1.09 and up 28% in the last seven days.
SHIB also gains traction
According to CoinMarketCap, Shiba Inu ranked among the most added tokens on its users' watch list for the past year 2022. Meanwhile, the SHIB token faces accumulation from whales or large holders. Per WhaleStats, an ETH whale named "BlueWhale0159" bought 186,939,748,000 SHIB valued at $1,596,465 in recent hours.
SHIB ranks as one of the most purchased assets by the largest 100 and 2,000 ETH whales tracked by WhaleStats. It also ranked as the most traded asset for the top 1,000 ETH whales and the most used smart contract for the largest 2,000 ETH whales.
At the time of publication, SHIB was up 2.23% at $0.0000084.