The world of cryptocurrencies is constantly evolving, and the latest development is the emergence of two Shiba Inu-related altcoins that are soaring as developers prepare to launch a highly-anticipated layer-2 network called Shibarium. This network is designed to be similar to Polygon (MATIC), offering developers a fast and scalable platform to build on while giving traders access to new projects and custom tokens with low transaction fees.
The first altcoin, Bone ShibaSwap (BONE), will be used as the governance token and to pay gas fees on the network. Since February 14th, BONE has jumped from a low of $1.27 to its current price of $1.62 – representing a 27% increase. Meanwhile, Doge Killer (LEASH) has surged from a Valentine’s Day low of $379 to $652, for a whopping 69% increase. This crypto asset was originally designed to be utilized as a way to reward loyal members of the Shiba Inu (SHIB) ecosystem, but its future utility has become more mysterious since its release in May of 2021.
The exact release date for Shibarium is still unknown, but pseudonymous developer Shytoshi Kusama has hinted that a beta version could launch next week. He has also promised it will arrive well ahead of a rumored debut in May. With the launch of Shibarium, developers will be able to take advantage of the platform’s low transaction fees and fast speeds, while traders will have access to new projects and custom tokens.
Shibarium is set to be a major development in the world of cryptocurrencies, and the surge in the price of the two Shiba Inu-related altcoins is a testament to the excitement surrounding its launch. Not only will it give developers a platform to build on, but it will also open up new opportunities for traders to invest in new projects and custom tokens. As the launch of Shibarium draws closer, it will be interesting to see how the prices of BONE and LEASH continue to evolve, and how the new network will affect the wider cryptocurrency market.