Shiba Inu’s Shibarium Developers Clear Rumors As Network Launch Draws Near

5 January 2023

in Altcoin

Reading Time: 4 mins read

Following the rising speculation about the blockchain, the official Twitter account of Shiba Inu’s Shibarium network on January 4 made a post clearing the false speculation. This comes amid the current anticipation of the network beta launch.

Particularly, the speculation being cleared is the one surrounding tokens in the network or tokens that are required to utilize the network’s benefit. This is the first series of tweets from the Shibarium blockchain official Twitter account.

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Debunking False Rumors Surrounding The Shibarium Network

The speculations on whether SHIB will be the blockchain native token have been another side of the false rumors going around. In the series of tweets uploaded yesterday, Shibarium clarified that the project’s token, BONE, will be the only token that would be used for gas fees and other blockchain activities. The team added, “No other tokens will be necessary to operate within the protocol.”

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In addition, the Shibarium team also made clear the ownership and objective of the blockchain, noting that Shibarium is built only for the Shiba Inu community and ecosystem to innovate while involving SHIB and not for any other projects outside the network.

“Shibarium has been developed for Shib token and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens,” the team stated using the Shibarium official account.

Shiba Inu’s Shibarium Beta Launch Draws Near

With the constant anticipation of the Shibarium blockchain launch, prominent developers like Shytoshi Kusama and Trophias in the past weeks have dropped several hints indicating that the launch of the beta version of the Layer 2 blockchain is very close.

Though some community members speculate that the development of Shibarium has been completed and is just waiting for the right time to deploy, they have expressed frustration at the prolonged delay of the network.

Initially, the Shibarium blockchain launch was set for September 2022. However, the developers eventually confirmed that there was a technical issue which has now resulted in the delay of the network. Even with hints and the hopes of its coming soon being given, there is still no official launch date yet.

Notably, the Shibarium community Discord admin recently introduced a “Shibarium announcement” section in the Shiba Inu discord. Multiple SHIB developers and influencers have been seen sharing the update from the official Twitter handle.

SHIB and BONE Recent Price Action

So far, SHIB has seen a reasonable momentum to the upside, following the path of other altcoins. As of the time of writing, Shiba Inu’s price is currently trading at $0.00000860, up over 4% in the last 24 hours. With a trading volume of $203 million.

Source [SHIB/USDT] on TradingView.com

In contrast, Bone has also gained upward momentum, and as of the time of writing, BONE is also currently trading at $1.08, up over 14% in the last 24 hours, with a trading volume of $9.9 million.