All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Shiba Inu’s marketing lead, Lucie, announced that a significant number of BONE tokens locked in validators will soon be released as knBONE on Shibarium.
- This move will boost liquidity within the Shibarium ecosystem and provide opportunities for developers and projects to integrate knBONE through staking pools and NFTs.
On Tuesday, Shiba Inu’s marketing lead, Lucie, made an important announcement regarding the Layer 2 scalability platform Shibarium. Lucie stated that something big is coming to the Shibarium ecosystem, sparking a buzz across the broader crypto market.
In a post on the X platform, Lucie stated that a large number of BONE tokens locked in validators would soon be unlocked as knBONE on Shibarium. She added that “this unlock will flood Shibarium with liquidity, and for developers, projects, and builders within the Shib community, this presents an incredible opportunity.”
The Shiba Inu community has been speculating on the purpose behind this large unlock, but Lucie explained to them how users can benefit from it. She highlighted that users can farm knBONE through staking pools like K9 Finance, which is a key player on the L2 and utilized throughout the broader ecosystem, per the CNF report.
The Shiba Inu market lead also stressed that SHIB developers should prioritize creating knBONE staking pools while integrating knBONE with the NFT space. They shall also accept knBONE for various use cases. “With the upcoming release of knBONE, Shibarium will experience a surge of activity as users seek to stake or spend their tokens,” Lucie noted in her post.
At the time of reporting, the Shibarium network recorded 1,890 daily transactions. Meanwhile, the Shiba Inu price has gained traction amid broader market recovery and is currently trading 2.61% up at $0.00001347 with a market cap of $7.94 billion. Also, the daily trading volume has surged by 46%.
Shiba Inu Gearing Up for 10x Rally
Popular technical analyst “Charting Guy” stated that the Shiba Inu price holds the potential for a major breakout, which could even trigger a price surge beyond its 2021 highs. The analyst also added that Shiba Inu is mimicking Dogecoin’s chart pattern while setting the stage for the breakout.
Charting Guy shared this opinion in response to a community member’s question about which altcoins might offer the potential for a substantial 10-fold return in the near future.
To support his bullish analysis, the analyst also provided a technical chart noting that the SHIB price recently encountered resistance at the “golden pocket,” a key Fibonacci retracement level between 0.618 and 0.65, which often acts as a resistance zone. Previously, this happened with Shiba Inu in the price range of $0.000031 to $0.000045.
Following this resistance, the analyst observed that SHIB has established strong support at the 0.236 Fibonacci level, corresponding to its current price of around $0.000013. This suggests that SHIB may have found a stable base and could continue its previous upward trend, reported CNF.
