After rising by almost 10% in the previous seven days, Shiba Inu’s BONE has reclaimed the $1 level. Lucie, the official content marketing strategist for the Shiba Inu ecosystem, recently predicted that the price of Bone ShibaSwap will begin to increase to $2–$3.
The announcement coincided after Kusama hinted that the launch date for the Shibarium mainnet is fixed and that he is currently working to deploy the layer-2 blockchain in Canada.
To delve further, a recent Telegram post appeared to be confirmed by project leader Shytoshi Kusama on the eagerly anticipated mainnet debut of the scaling protocol.
SHIB members went into a tizzy after a screenshot of the telegram message was shared showing Kusama validating a member’s post, “Shibarium will launch at ETHToronto on 13th…” and inserted a pun, “Mark.. his words.”
The annual ETHToronto conference, scheduled for August 15–16, 2023, is seen as crucial for the memetoken ecosystem because the SHIB Token team will be joining this year’s edition and the Shibarium is rumored to be the focus of it.
According to sources, the Canada presentation would also feature other popular projects like SHIB: The Metaverse, Sbibacals physical NFT studio, and Shiba Eternity, the collectible card game.
Although Kusama is yet to address the rumors, the occasion might be remembered as the turning point in Shibarium’s launch if proven true.
Nevertheless, the news has rekindled community optimism which is reflected in Shibarium’s governance token BONE. The 124th-ranked token is now trading at $1.08 on Coinmarketcap with a market cap of $247 million.
Shiba Inu’s BONE On-chain Metrics Reflects Bullish Trend
In addition to the impending launch, a bullish trend in net network growth and holders in the money was discovered by BONE’s key on-chain indicators.
The 0.43% network growth statistic indicates an increase in newly created wallets, and a 3.11% boost in the ‘In The Money’ signal increases the percentage of $BONE holders who are in the black for the first time since April 2023 to 51%.
The Shiba Inu token also managed to score a few listings this month, driving mainstream adoption.
BONE was listed on the Australian trading platform CoinSpot on June 13; a few days before, SwyftX, another Australia-based platform, had added the token’s support.