Altcoin

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

Published

1 week ago

September 10, 2024

Shiba Inu’s marketing lead Lucie on Tuesday issued an important announcement about the SHIB ecosystem’s Layer 2 blockchain, Shibarium. The marketing lead stated, “In just under 9 days, something big is coming” to the Layer 2, sparking a buzz across the broader industry. This statement by the exec is primarily attributable to BONE, a vital component of the Layer 2 network.

Shiba Inu Exec Spotlights Unlocking knBONE on Shibarium

In an official post on X dated September 10, Lucie revealed that shortly ahead, an enormous amount of BONE locked in validators will be unlocked as knBONE on Shibarium. She added, “This unlock will flood Shibarium with liquidity, and for developers, projects, and builders within the Shib community, this presents an incredible opportunity.”

Although Shiba Inu community participants speculated over the massive unlock and its purpose, Lucie revealed that there are vital ways to capitalize on the development. Users can farm their knBONE with the help of staking pools like K9 Finance, a key player within the L2, while they can also use it across the broader ecosystem.

Primarily, developers should focus on creating knBONE staking pools, accepting knBONE, and amalgamating it within the NFT realm. “With the impending release of knBONE, Shibarium is about to see a wave of activity as users look to stake or spend their tokens,” Lucie added in her post.

The daily transaction on the layer 2 network at the time of reporting were evaluated as 1.89K transactions. Simultaneously, the native token of the ecosystem, SHIB, traded in the green, igniting investor curiosity in tandem with the development.

Notably, the meme coin’s ecosystem also witnessed the launch of the ShibDev portal recently, further cementing investor optimism on future aspects.

Additionally, the constant Shiba Inu burning has added fuel to the optimistic fire for the token in recent days.

SHIB Price Soars

The Shiba Inu coin price gained nearly 2.5% at press time and was sitting at $0.00001342. The coin’s intraday low and high were $0.00001301 and $0.00001371, respectively. This pumping movement primarily aligns with today’s broader market trend, whereas the abovementioned development has garnered further attention to the asset.

Coinglass data today illustrated a nearly 8% surge in the token’s futures OI to $25.66 million. Moreover, the derivatives volume surged 57% to $48.13 million, underscoring heightened investor interest in the asset. This data solidifies optimism on the dog-themed meme token.

Simultaneously, a recent Shiba Inu price analysis by CoinGape Media suggested that the coin reflects bullish dynamics in light of Keith Gill, aka Roaring Kitty’s return on social media. Overall, the coin currently surfs optimistic waves across the broader market.