In a bid to inject optimism, Shiba Inu’s marketing lead LUCIE recently took to a post on X, drawing attention to vital developmental endeavors within the Shiba Inu ecosystem. ShibaSwap (BONE), a DeFi platform on Shiba Inu’s ecosystem, is going multi-chain by expanding to Ethereum & Shibarium, according to Lucie’s post shared today. 

This announcement appears to have sparked a buzz across the global Shiba Inu community, as Shibaswap’s governance token, BONE, remains poised to benefit substantially, Lucie hinted. BONE ShibaSwap noted a considerable fall at press time, contrastingly stirring speculations among crypto market enthusiasts globally.

ShibaSwap Goes Multi-Chain: What’s The Catch?

According to Lucie’s post on X, ShibaSwap is going multi-chain, operating both on Shibarium and Ethereum. This move by the meme coin’s community comes as an effort to enhance interoperability and potentially attract a more extensive user base.

ShibaSwap is a DeFi platform within Shiba Inu’s ecosystem, fostered to expand the utility and capabilities of the SHIB token ecosystem. Its functionalities include passive income-generating services like staking, liquidity pools, and yield farming within the meme coin’s ecosystem. 

However, with the abovementioned announcement weighing in, these functionalities will go multi-chain, expanding to the Ethereum and Shibarium ecosystems. Lucie hinted in her post that BONE, ShibaSwap’s governance token and also Shibarium’s gas fees token, remains poised to leverage this expansion of services substantially. This further paves an optimistic path for Shiba Inu and its ecosystem’s tokens ahead, fueling optimistic market sentiments among crypto market participants.

#ShibaSwap is going multi-chain, operating on both #Shibarium and Ethereum.

Who knows what the future holds?
We’re expanding our horizons.

Don’t forget, $Bone is the Shibarium gas fee token. IYKYK pic.twitter.com/ZCFep8AIKG

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) April 29, 2024

Here’s a deeper dive into the ecosystem tokens’ price actions at press time.

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SHIB, BONE, & LEASH Prices Dip, Is a Recovery Possible?

As of writing, SHIB’s price plunged 6.65% in the past 24 hours and is currently trading at $0.0000235. BONE ShibaSwap noted a drop of 4.45% in the past 24 hours and is currently resting at $0.5872. LEASH Doge Killer slipped 5.54% over the past day and stood at $399.94.

Although the Shiba Inu ecosystem tokens traded remarkably in the red today, it’s worth noting that the Shiba crypto community braces for a stockpile of upgrades that propel bullish thoughts among investors. The abovementioned announcement primarily fans the flames of hope for BONE, whereas Shiba Inu recently announced a hard fork for Shibarium in the pipeline. Further, even a layer 3 is in the works for the dog-themed meme token.

These chronicles, fostered by the Shiba Inu crypto community, primarily aim to boost all the ecosystem tokens, including SHIB, BONE, LEASH, WOOF, and the newly launched DAMN. Collectively, this has projected a stark bullish sentiment among crypto market participants regarding the meme coin’s cryptographic venture and price movements ahead. 

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The post BONE Price Primed To Rally? Shiba Inu Executive Hints As ShibaSwap Goes Multi-Chain appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am