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- Shiba Inu marketing lead, Lucie, announces plans for ShibaSwap, a Decentralized Exchange (DEX) on the Ethereum blockchain, to expand to a new chain.
- This development could significantly transform the Shibarium ecosystem and potentially fuel a price leap for Shiba Inu’s native token, SHIB, and Shibarium’s BONE.
- ShibaSwap will operate on both the Ethereum network and the Shibarium Layer 2 network, potentially improving its overall functionality and drastically reducing gas fees.
ShibaSwap, a Decentralized Exchange (DEX) on the Ethereum blockchain, is set to expand to a new chain, potentially boosting the price of Shiba Inu’s native token, SHIB, and Shibarium’s BONE.
ShibaSwap Is Going Multi-Chain
Following the completion of the Shibarium hardfork, Lucie announced that ShibaSwap will be going multichain, operating on both the Ethereum network and the Shibarium Layer 2 network. This integration will enhance ShibaSwap’s foundational Ethereum connections and overcome the limitations of a single blockchain network, ensuring a seamless and more reliable trading experience for its growing community.
Impact on the Shibarium Ecosystem
The expansion into Shibarium’s L2 network will have immense benefits on Shibarium’s ecosystem token, BONE. The integration into Shibarium will potentially reduce BONE’s substantial supply, totaling more than 249.9 million, with a circulating supply of 229.9 million. This reduction in the token’s supply is expected to improve the value of BONE, and possibly SHIB over time.
Shiba Inu Token Set For New Gains
Following the completion of Shibarium’s hard fork, the price of SHIB witnessed significant gains, surging by approximately 3.78% in the past 24 hours. The cryptocurrency is currently trading at $0.000022, according to CoinMarketCap. The announcement of ShibaSwap’s upcoming expansion into the Shibarium network could potentially drive new adoption and interest into the Shiba Inu ecosystem, fueling a price increase for SHIB.
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Conclusion
The expansion of ShibaSwap into the Shibarium network is a significant development for the Shiba Inu ecosystem. This move could potentially drive new adoption and interest, leading to a price increase for SHIB and BONE. As the crypto market continues to evolve, such strategic moves by crypto projects like Shiba Inu are crucial in driving growth and value.
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