Shiba Inu Team Member Reveals ShibaSwap Network Expansion Plan That Could Send SHIB Price Flying

Shiba
Inu
marketing
lead,


Lucie

has
announced
plans
that
would
see


ShibaSwap,
a
Decentralized
Exchange
(DEX)
on
the
Ethereum
blockchain
expanding
to
a
new
chain.
This
new
development
could
significantly
transform
the
Shibarium
ecosystem,
potentially
fueling
a
price
leap
for
Shiba
Inu’s
native
token,


SHIB

and
Shibarium’s


BONE.

ShibaSwap
Is
Going
Multi-Chain

While
the
Shiba
Inu
ecosystem
is
still
celebrating


the
completion
of
the
Shibarium
hardfork,
Lucie
has
dropped
a
new
mega
development,


announcing

that
ShibaSwap
will
be
going
multichain,
operating
on
both
the
Ethereum
network
and
the
Shibarium
Layer
2
network.

According
to
a


new
edition
of
The
Shib
Magazine,
the
integration
of
ShibaSwap
on
two
prominent
chains
will
represent
a
significant
milestone
for
the


Shiba
Inu
ecosystem,
as
ShibaSwap
will
be
“enhancing
rather
than
replacing
its
foundational
Ethereum
connections.”
The


decentralized
exchange

had
initially
operated
solely
on
the
Ethereum
blockchain,
however
with
the
upcoming
transition,
ShibaSwap
will
be
accessible
on
both
chains,
potentially
improving
its
overall
functionality
and
drastically
reducing
gas
fees.

This
new
integration
will
also
enable
ShibaSwap
to
overcome
the
limitations
of
a


single
blockchain
network,
ensuring
a
seamless
and
more
reliable
trading
experience
for
its
growing
community.
Additionally,
the
expansion
into
Shibarium’s
L2
network
will
have
immense
benefits
on


Shibarium’s
ecosystem
token,
BONE.

Maximus,
a
seasoned
moderator
at
Shiba
Inu’s
Tech
disclosed
that
ShibaSwap’s
integration
into
Shibarium
will
potentially
reduce
BONE’s
substantial
supply,
totaling
more
than
249.9
million,
with
a
circulating
supply
of
229.9
million.

He
further
clarified
how
the
planned
transition
will
supposedly
decrease
BONE’s
supply,
explaining
that
“both
builders
and
users
will
need
some
BONE
to
use
Shibarium
while
projects
will
acquire
BONE
to
add
liquidity
for
their
tokens,
and
lock
this
liquidity,
or
even
burn
the
liquidity
tokens,
locking
BONE
forever.”
This
reduction
in
the
token’s
supply
is
expected
to


improve
the
value
of
BONE,
and
possibly


SHIB

over
time.

Shiba
Inu
Token
Set
For
New
Gains

Following
the
completion
of
Shibarium’s
hard
fork
on
April
29,
the


price
of
SHIB

witnessed
significant
gains,
surging
by
approximately
3.78%
in
the
past
24
hours.
The
cryptocurrency
is
currently
trading
at
$0.000022,
according
to
CoinMarketCap.

The
announcement
of
ShibaSwap’s
upcoming
expansion
into
the
Shibarium
network
alongside
the
conclusion
of


Shibarium’s
upgrade

could
potentially
drive
new
adoption
and
interest
into
the
Shiba
Inu
ecosystem.
This
in
turn
could
fuel
a
price
increase
for
SHIB,
enabling
the
popular
meme
coin
to
soar
to
new
highs.

While
speaking
to
The
Shib
Magazine,
Maximus
disclosed
that
he
expects
a
significant
increase
in
volume
in
BONE,
as
the
transition
is
a
change
that
most
community
members
have
been
excited
for.
He
revealed
that


Shiba
Inu
ecosystem
tokens

could
potentially
experience
a
price
increase,
concluding
that
a
favorable
price
action
will
benefit
the
community
and
the
ecosystem
in
the
long
run.

SHIB price at $0.000023 | Source: SHIBUSDT on Tradingview.com

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