Exciting Shibarium Update Sparks Interest in Crypto Market
On Tuesday, Lucie, the marketing head of Shiba Inu, made a significant announcement regarding Shibarium, the Layer-2 scaling platform. Lucie revealed that something big is coming to the Shibarium ecosystem, which created excitement across the broader crypto market.
In a post on the X platform, Lucie mentioned that a large number of BONE coins locked in validators would soon be unlocked as knBONE on Shibarium. This release is expected to flood Shibarium with liquidity and provide an incredible opportunity for developers, projects, and builders within the Shib community.
Opportunities for Developers and the Community
Lucie explained that users could benefit from farming knBONE through staking pools like K9 Finance, which are utilized throughout the ecosystem. She also urged SHIB developers to prioritize creating knBONE staking pools and integrating knBONE into the NFT space for various use cases. Lucie predicted that the release of knBONE would lead to increased activity on Shibarium as users seek to stake or spend their tokens.
At the time of writing, the Shibarium network recorded 1,890 daily transactions. Meanwhile, the Shiba Inu price saw an increase of 2.61%, trading at $0.00001347 with a market capitalization of $7.94 billion.
Shiba Inu Setting the Stage for a Bull Run
Technical analyst "Charting Guy" suggested that Shiba Inu has the potential for a significant breakout, possibly surpassing its 2021 highs. The analyst believes Shiba Inu is following Dogecoin’s chart pattern and preparing for a breakout.
Charting Guy highlighted a technical chart showing that SHIB encountered resistance at the "golden pocket," a key Fibonacci retracement level. The analyst also noted that SHIB found strong support at the 0.236 Fibonacci level, suggesting that SHIB may have established a stable base and could continue its upward trend.
