• Shiba Inu’s (SHIB) scaling solution Shibarium has reached over 50,000 wallets.
• This sparked a rally for Bone ShibaSwap (BONE), the token associated with paying the protocol’s gas fees.
• The relaunch of Shibarium saw BONE increase by 6.6% in one day.
Relaunch of Shibarium
Shiba Inu’s (SHIB) layer-2 scaling solution Shibarium has recently been relaunched and has reached over 50,000 wallets.
Impact on BONE
The successful relaunch resulted in a rally for Bone ShibaSwap (BONE). The price of BONE increased by 6.6% in one day as a result of the rush of new users and transactions taking place over it.
Rival Meme Assets
Rival meme assets such as Pepe (PEPE) experienced an opposite effect, dipping over 15% during the last 24 hours. Pepe is trading for $0.000000898434 at time of writing, while Shiba Inu is trading for $0.000008 at time of writing, a 1% decrease during the last day.
Technical Difficulties
Last week, Shibarium experienced technical difficulties associated with the rush of new users and had to temporarily shut down but have since been optimized and enhanced with additional validators going live to give more options to stake BONE tokens.
Lead Developer Statement
At the time, Shytoshi Kusama, the project’s lead developer said: “After two days of testing and tweaking parameters to achieve ‘ready’ state, Shibarium is now enhanced and optimized… Additional validators will go live, giving even more options for you to stake your BONE.”