SHIB Surges 15% as New Exchange Supports Shibarium

• KuCoin has expressed its support for Shiba Inu and the upcoming launch of Shibarium.
• BONE listing on the billion-dollar exchange will be a massive positive for Shibarium and the entire Shiba Inu ecosystem.

Shiba Inu’s Shibarium is now just days away and is already receiving massive recognition from the rest of the industry. In the latest development, the billion-dollar exchange KuCoin has expressed its anticipation of the launch of Shibarium.

With this, the SHIB community has called on the exchange to list the governance token of Shibarium, BONE. This move could drive adoption and easily lead to a price rally.

The SHIB community was reminded of the launch of the layer-2 scaling solution next week on Twitter by the KuCoin team. The launch will be made official during the upcoming Blockchain Futurist Conference in Toronto.

#Shibarium is expected to launch next week.

Are you pawsitive for for $SHIB?

— KuCoin (@kucoincom) August 12, 2023

Ahead of the launch, billions of SHIB have been burnt in anticipation of a price rally. In the past 24 hours, more than half a billion SHIB tokens have been burnt according to data from Shibburn. This pushes the total amount of SHIB burnt in the last 7 days, well over 1.1 billion. This is a clear indication of the excitement about the launching platform. Burnt tokens are permanently taken out of circulation, leading to lower supply and higher demand. Leading to and after the launch of Shibarium, SHIB burns are set to increase in intensity and frequency.

The positive sentiments are also evident in the SHIB token which has enjoyed gains of nearly 15 percent in the last 7 days. In the wake of a 2 percent correction in the last 24 hours, SHIB is exchanging for $0.00001029 at the time of press.

Whales are playing a major role with a majority of addresses grabbing huge amounts in anticipation of a price explosion. Earlier this week, a new whale wallet bought 4.59 trillion tokens worth $48 million in a single transaction. The involvement of such whales drives demand high and leads to short-term price explosions.

Shiba Inu Achievements Beyond Shibarium

As CNF has reported, the Shibarium launch is not the only anticipated development expected around the Shiba Inu ecosystem. Lead developer Shytoshi Kusama recently revealed in the official Shibarium community Telegram group that the SHIB ecosystem is on the verge of forming three additional partnerships. As per his explanation, the first revolves around dry ink, the second, anticipated for August, centers on technology, and the third is cause for celebration.

Read More: Shiba Inu’s Lead Developer Teases Explosive Projects, Declares ‘SHIB is Greater than X’

The upcoming Shibarium launch is regarded as a major step in the development of Shiba Inu. Shiba Inu hopes to gain a foothold in the Layer-2 world competing with market leaders such as Ethereum, Polygon, Solana, Ethereum, and Cardano.

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