• The relaunch of memecoin Shiba Inu’s (SHIB) layer-2 scaling solution Shibarium has reached over 50,000 wallets.
• This caused a rally for Bone ShibaSwap (BONE), the token associated with paying the protocol’s gas fees.
• Rival meme assets such as Pepe (PEPE) dipped over 15% during the last 24 hours.
Shibarium Relaunch Reaches 50,000 Wallets
The relaunch of memecoin Shiba Inu’s layer-2 scaling solution Shibarium has been successful, reaching more than 50,000 active wallets and sparking a rally for BONE, the token associated with paying its gas fees.
Rally For BONE Token
News of the successful relaunch sent BONE soaring from $1.36 to $1.45 in one day, representing a 6.6% increase in its value. However, it has since stabilized and is now trading at around $1.40 per token at time of writing.
Decline Of Pepe Token
In contrast to this success story, rival meme asset Pepe (PEPE) experienced a decrease in its value; it dropped by over 15% within one day and is now trading for around $0.000000898434 at time of writing.
Price Movement Of SHIB And BONE Tokens
Shiba Inu (SHIB), meanwhile, decreased by 1%, trading at around $0.000008 at time of writing while Bone ShibaSwap (BONE) remains stable at around $1.40 per token at time of writing.
Shibarium Upgrade
To accommodate the large influx of activity on Shibarium’s mainnet shortly after its launch earlier this month, Shytoshi Kusama – lead developer for the project – announced that additional network validators will be added to enhance and optimize security protocols on the platform and provide more options for users to stake their BONE tokens safely and securely.