A pair of Shiba Inu-related altcoins are soaring as developers prepare to launch a highly-anticipated layer-2 network called Shibarium.
The new network is designed to be similar to Polygon (MATIC), offering developers a fast and scalable platform to build on while giving traders access to new projects and custom tokens with low transaction fees.
As developers work on Shibarium, two Ethereum-based altcoins that are already part of Shiba Inu’s ecosystem are witnessing some major price movements.
The first altcoin, Bone ShibaSwap (BONE), will be used as the governance token and to pay gas fees on the network.
BONE has jumped from a February 14th low of $1.27 to its current price of $1.62 – representing a 27% increase.
Meanwhile, Doge Killer (LEASH) has surged from a Valentine’s Day low of $379 to $652, for a whopping 69% increase.
The crypto asset was originally designed to be utilized as a way to reward loyal members of the Shiba Inu (SHIB) ecosystem.
However, the future utility of LEASH has become more mysterious since its release in May of 2021.
As for when Shibarium will launch, developers have yet to hammer down a firm release date.
In a recent reply on Twitter, pseudonymous developer Shytoshi Kusama hinted that a beta version could launch next week.
He has also promised it will arrive well ahead of a rumored debut in May.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/pedrosek/WindAwake