In preparation for the August launch of the Shibarium blockchain, investors are focusing their attention and resources on SHIB, the native token of the Shiba Inu cryptocurrency ecosystem.
This pattern was recently noticed by crypto market researcher Metaquant on Twitter, who noted that SHIB-related tokens including BONE, LEASH, WOOF, and PAW, which are all among the top gainers in the crypto market, had seen a rotation.
Notably, SHIB, BONE, and LEASH are all displaying strong performance with notable improvements. Data from CoinGecko shows that Doge Killer (LEASH) has had a tremendous spike of 64.6%, and is currently trading at $569.88, while Bone ShibaSwap (BONE) is valued at $1.43 with a modest gain of 0.4%. This impressive performance shows that the imminent Shibarium launch is already creating buzz in the cryptocurrency industry.
Shibarium, a Layer 2 blockchain, is scheduled to launch following a conference in Toronto this August, according to a recent blog post by creator Shytoshi Kusama.
The network will make use of SHIB tokens and its derivatives, such as BONE, TREAT, and LEASH, for blockchain-based applications.
This action is in line with the ecosystem’s goal of creating a community that is independent and decentralised while making use of its own tokens.
The author of the blog article under the alias Shytoshi Kusama described the difficulties in creating a “leaderless, 100% decentralised and autonomous persistent community.”
Although others have attempted to achieve a similar goal, the site contends that making sure everything is genuinely “persistent” calls much more care, thinking, planning, technology, strategy, and a more solid structure than previous meme currencies.
