BoneShibaSwap account (@BoneShiba) has tweeted that Shiba Inu meme coin is quite capable of reaching the $1 price mark driven by two stimulating factors, i.e., if the SHIB community doubles down on its support of the BONE token and Shibarium Layer-2 solution.
#ShibArmy #BoneArmy #Shiba #Gas
The important question is, what if everyone knows that the way #Shib can reach 1 $ is maximum support of $bone and #shibarium? Because #Shibarium layer2 blockchain burns $Shib in every transaction and #bone is the cause of all these works! . . .
— BoneShibaSwap (@BoneShiba) February 12, 2023
BONE + Shibarium support may push SHIB to $1
The explanation for this forecast provided by @BoneShiba is that every Shibarium transaction will result in burning Shiba Inu meme tokens, and all transfers on the Layer-2 protocol will be fueled by BONE tokens.
Earlier, the lead developer of Shiba Inu, widely known on social media under the pseudonym Shytoshi Kusama, confirmed that after Shibarium is introduced, it will allow for trillions of SHIB tokens to be sent to dead-end wallets, i.e., burned.
Burning makes crypto more scarce as it decreases its circulating supply and thus, in theory, if the lion’s share of a coin’s emittance is burned, the price can go up quite significantly.
“Wen Shibarium,” though?
As reported by U.Today over the weekend, the mysterious and pseudonymous Shytoshi Kusama put an end to the expectations of the SHIB army of seeing Shibarium launch on Valentine’s Day as he sort of hinted in January, when adding a text to his Twitter bio about presenting Shibarium in a “heart-shaped box.”
Now, he has commented on this issue, stating that there is no exact date of launch as it does not happen “by a switch.”
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