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Home » SHIB rises after announcement about Shiba Inu’s own network

SHIB rises after announcement about Shiba Inu’s own network

Important facts:
  • SHIB token price is leading the rise this Sunday

  • BONE, Shibarium’s native token, is also in the top 3.

The price of Shiba Inu (SHIB) is increasing this Sunday 9th July. Among the top 100 cryptocurrencies and tokens with the largest market capitalization, SHIB is a leader.

At the time of writing this article Each SHIB unit trades at $0.00000776which represents an increase of 5.46% in the last 24 hours.

The reason for this increase is new Advertising created by one of the co-creators and developers of the Shiba Inu ecosystemwho appears under the pseudonym Shytoshi Kusama.

“We are proud to announce that we are title sponsor of the Blockchain Futurist Conference, ETH-Toronto and Eth-Women! This strengthens our position as a major player in the cryptocurrency space. Of course, this is about the third anniversary of Shib, and it’s very likely that we’ll be discussing and publishing Shibarium at ETH.

As part of[dieser Konferenzen]Shibarium will host a hackathon for several months, Shib will have two booths, one VIP booth, and keynote speeches will be held to showcase products, platforms and services related to Shibarium and SHIB. (…) There are also new partners like Unification, BadIdea.Ai and others that will be announced by Shibarium in the summer. We are also planning to speak virtually (about AI) at the Shibarium Tech conference.” IdeaAiyotrosqueseanunciaránduranteelveranodeShibariumAdemásplaneamoshablarvirtualmente(atravésdeAI)enlaconferenciadeShibariumTech» [estasconferencias[ShibariumorganizaráunhackathondurantevariosmesesShibtendrádosstandsunacabinaVIPysellevaránacabodiscursosprincipalesparapresentarproductosplataformasyserviciostemáticosdeShibariumySHIB(…)TambiénhaynuevossocioscomoUnificationBadIdeaAiyotrosqueseanunciaránduranteelveranodeShibariumAdemásplaneamoshablarvirtualmente(atravésdeAI)enlaconferenciadeShibariumTech»

Shitoshi Kusama, creator of Shiba Inu.

The above conferences will take place in August, next month.

Shibarium is the name given to the Shiba Inu ecosystem’s own network. As CriptoNoticias explained in February 2023, the goal of Shibarium is to provide a more favorable environment than Ethereum for the use of Shiba Inu and other applications that want to develop on this new network.

Shiba Inu Price in the Last 24 Hours. Source: CoinMarketCap

In addition to SHIB, Another token whose price benefited from the recent announcement is Bone Shibaswap (BONE).. As a native Shibarium token, it is used to pay commissions to validators. In that sense, it will perform a function similar to Ether (ETH) in Ethereum.

As per CoinMarketCap data, BONE is the third token with the highest increase in value over the last 24 hours:

Top 3 cryptocurrencies and tokens in the last 24 hours. Source: CoinMarketCap

Unlike other memecoins without much development, Shiba Inu wants to offer diverse use cases. This includes the SHIB token, which can be used in commerce or as a means of payment due to its high volatility. It also features decentralized exchanges and there are plans to launch a metaverse.

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